BMO Investments Inc. Receives Securityholder Approval for Changes to its
Mutual Fund Line-Ups

TORONTO, Nov. 16 /CNW/ - BMO Investments Inc. has received securityholder and regulatory approval to proceed with the proposed changes to its BMO Guardian Funds and BMO Mutual Funds line-ups announced September 25, 2009.

The following changes have been approved and are expected to be effective as of the merger dates listed in the following table:

    
    -------------------------------------------------------------------------
    Terminating Fund   Continuing Fund    Merger Date         Advisor Series
    ----------------   ---------------    -----------         --------------
    -------------------------------------------------------------------------
    BMO Guardian       BMO Bond Fund      November 27, 2009   BMO Guardian
    Canadian           Bond Fund                              Advisor
    Bond Fund                                                 Series*
    -------------------------------------------------------------------------
    BMO Guardian       BMO Money Market   November 20, 2009   BMO Guardian
    Canadian Money     Fund                                   Money Market
    Market Fund                                               Fund Advisor
                                                              Series*
    -------------------------------------------------------------------------
    BMO Guardian U.S.  BMO U.S. Dollar    November 13, 2009   BMO Guardian
    Money Market Fund  Money Market Fund                      U.S. Dollar
                                                              Money Market
                                                              Fund Advisor
                                                              Series*
    -------------------------------------------------------------------------
    BMO Guardian       BMO American       November 20, 2009   BMO Guardian
    American Equity    Equity Class(+/-)                      American Equity
    Fund Ltd.                                                 Class Advisor
                                                              Series(+/-)
    -------------------------------------------------------------------------
    GGOF Canadian      BMO Canadian       November 27, 2009   BMO Guardian
    Equity Fund Ltd.   Equity Class(+/-)                      Canadian Equity
                                                              Class Advisor
                                                              Series(+/-)
    -------------------------------------------------------------------------
    BMO Guardian       BMO Emerging       November 27, 2009   BMO Guardian
    Emerging Markets   Markets Fund                           Emerging
    Fund                                                      Markets Fund
                                                              Advisor
                                                              Series*
    -------------------------------------------------------------------------
    BMO Guardian       BMO European Fund  November 20, 2009   BMO Guardian
    European Equity                                           European Fund
    Fund                                                      Advisor
                                                              Series*
    -------------------------------------------------------------------------
    BMO Guardian       BMO Global         November 20, 2009   BMO Guardian
    Global Dividend    Dividend Class(+/-)                    Global Dividend
    Growth Fund                                               Class Advisor
                                                              Series(+/-)
    -------------------------------------------------------------------------
    BMO Guardian       BMO Global         November 13, 2009   BMO Guardian
    Global Real        Infrastructure                         Global
    Estate Fund        Fund                                   Infrastructure
                                                              Fund Advisor
                                                              Series
    -------------------------------------------------------------------------
    BMO Guardian       BMO Guardian       November 27, 2009   Mutual Fund
    Japanese Equity    Asian Growth and                       Class
    Fund               Income Fund
    -------------------------------------------------------------------------
    BMO Guardian       BMO Resource Fund  November 27, 2009   BMO Guardian
    Canadian Resource                                         Resource Fund
    Fund                                                      Advisor Series
    -------------------------------------------------------------------------
    BMO Guardian       BMO Asset          November 13, 2009   BMO Guardian
    Canadian Balanced  Allocation Fund                        Asset
    Fund                                                      Allocation Fund
                                                              Advisor
                                                              Series*
    -------------------------------------------------------------------------
    BMO Guardian       BMO Special        November 13, 2009   BMO Guardian
    Small Cap Growth   Equity Fund                            Special Equity
    and Income Fund                                           Fund Advisor
                                                              Series
    -------------------------------------------------------------------------
    BMO Guardian U.S.  BMO U.S. Dollar    November 20, 2009   BMO Guardian
    Diversified        Monthly Income                         U.S. Dollar
    Monthly Income     Fund                                   Monthly Income
    Fund                                                      Fund Advisor
                                                              Series*
    -------------------------------------------------------------------------
    *   New BMO Guardian Advisor Series
    (+/-) A class of BMO Global Tax Advantage Funds Inc.
    

As set out in the announcement made on September 25, 2009, on the effective date of each merger, securityholders of each class of each Terminating Fund will receive securities of the equivalent series or class of the applicable Continuing Fund, determined on a dollar-for-dollar basis and, as soon as possible following the mergers, each Terminating Fund will be wound up.

BMO Investments Inc. has also received securityholder and regulatory approval to change the investment objective of BMO American Equity Class to be substantially similar to the current investment objective of BMO Guardian American Equity Fund Ltd. Corresponding changes will be made to the investment strategies for this fund.

In addition, as a result of the merger involving its current underlying fund, the underlying fund of BMO Emerging Markets Class will become BMO Emerging Markets Fund. The investment objective of BMO Emerging Markets Class is to provide long-term capital appreciation. Currently, BMO Emerging Markets Class seeks a similar return to BMO Guardian Emerging Markets Fund by investing primarily in units of that fund. On the effective date of the merger, BMO Emerging Markets Class will seek a similar return to BMO Emerging Markets Fund by investing primarily in units of that fund.

About BMO Guardian Funds

BMO Guardian Funds is a diversified family of funds and includes a broad range of domestic and global investment options covering a full array of asset classes, sectors, regions and specialized mandates. BMO Guardian Funds are offered by BMO Investments Inc.

About BMO Investments Inc.

BMO Investments Inc. is a member of the BMO Financial Group and part of the organization's Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and had total assets under management and administration of $230 billion as at July 31, 2009.

SOURCE BMO BANK OF MONTREAL

For further information: For further information: Media Contacts: Paul Gammal, Toronto, paul.gammal@bmo.com, (416) 867-6543; Lucie Gosselin, Montréal, lucie.gosselin@bmo.com, (514) 877-1101; Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596; Internet: www.bmo.com


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