BMO Financial Group Renews Normal Course Issuer Bid

    TORONTO, Sept. 4 /CNW/ - BMO Financial Group (TSX, NYSE:   BMO) today
announced that the Toronto Stock Exchange has approved BMO's normal course
issuer bid. BMO may now purchase for cancellation up to 15 million of its
common shares under a normal course issuer bid during the period commencing
September 8, 2008 and ending September 7, 2009 through the facilities of the
Toronto Stock Exchange.
    The common shares that may be purchased represent approximately 3.0
percent of the public float. BMO will determine the actual number of common
shares that may be purchased and the timing of any such purchases. The price
paid for the share purchases will be the market price of the shares at the
time of acquisition.
    No common shares have been purchased under the bank's current normal
course issue bid. There were 505,299,790 Bank of Montreal common shares issued
and outstanding as at August 31, 2008 and the public float was 504,892,055
common shares. The average daily trading volume for the 6 months ended August
31, 2008 was 2,712,295 shares.
    BMO's Tier 1 capital ratio was 9.90 percent, as at July 31, 2008. The
normal course issuer bid is being established as part of BMO's capital
management strategy.

For further information:

For further information: Media Relations: Ralph Marranca, Toronto,, (416) 867-3996; Ronald Monet, Montréal,, (514) 877-1873; Investor Relations: Steven Bonin,
Toronto,, (416) 867-5452; Krista White, Toronto,, (416) 867-7019; Internet:

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