BMO Financial Group Intends to Renew Its Normal Course Issuer Bid

    TORONTO, Aug. 26 /CNW/ - BMO Financial Group (TSX, NYSE:   BMO) today
announced its intention, subject to Toronto Stock Exchange and regulatory
approval, to renew its normal course issuer bid through the facilities of the
Toronto Stock Exchange. The bank intends to file a notice of intention with
the Toronto Stock Exchange in this regard.
    The notice will provide that BMO Financial Group may, during the period
commencing September 8, 2008, and ending September 7, 2009, purchase for
cancellation on the Toronto Stock Exchange up to 15,000,000 common shares,
being approximately 3.0 percent of the public float. The actual number of
common shares that may be purchased and the timing of any such purchases will
be determined by BMO Financial Group. BMO Financial Group will pay the market
price for the shares at the time of acquisition.
    BMO's previous 12-month normal course issuer bid expires on
September 5, 2008 and BMO has not repurchased any common shares under that
bid. There were 504,445,457 Bank of Montreal common shares issued and
outstanding as at July 31, 2008 and the public float was 504,269,001 common
    BMO Financial Group's Tier 1 ratio was 9.90 percent, as at July 31, 2008.
The normal course issuer bid is being renewed as part of BMO's capital
management strategy.

For further information:

For further information: Media Relations, Ralph Marranca, Toronto,, (416) 867-3996; Lucie Gosselin, Montreal,, (514) 877-1101; Investor Relations, Steven Bonin,
Toronto,, (416) 867-5452; Krista White, Toronto,, (416) 867-7019; Internet:

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