BMO Investments Inc. Receives Shareholder Approval to Proceed with Changes to its Mutual Fund Line-Up

    TORONTO, April 27 /CNW/ - BMO Investments Inc. today announced that
shareholders approved the following changes to BMO Global Balanced Class and
BMO Short-Term Income Class.

    BMO Global Balanced Class

    The shareholders of this fund approved the proposed changes to the
investment objectives at the shareholders meeting that was held on April 26,
2007. Accordingly, effective April 30, 2007, the investment objectives for BMO
Global Balanced Class will be changed in order to allow the fund to invest
primarily in dividend-yielding common and preferred shares of companies from
around the word. The fund's name will also be changed at this time to "BMO
Global Dividend Class" to reflect the change to the fund's investment
    "Investors are increasingly looking outside of Canada for opportunities
to participate in the stability and growth potential of large-cap blue chip
firms," said Ed Legzdins, President and CEO, BMO Investments Inc. "Investors
in BMO Global Dividend Class will benefit from global equity exposure and
geographic diversification in their portfolio, with an emphasis on dividend
distributing equities."
    In addition, as of April 30, 2007, KBC Asset Management International
Limited will become the portfolio manager for this fund, replacing Insight
Investment Management (Global) Limited.
    KBC is a wholly-owned subsidiary of KBC Asset Management Ltd., in Dublin,
Ireland, which has been managing assets for more than 25 years and is
ultimately owned by the KBC Group, a financial services provider headquartered
in Brussels and publicly listed on the Euronext Stock Exchange with operations
in more than 30 countries. KBC and related companies had more than $26 billion
in assets under management as of December 31, 2006.

    BMO Short-Term Income Class

    The shareholders of this fund approved the proposed changes to this
fund's investment objectives, as described below, at the shareholders meeting
that was held on April 26, 2007. The approved changes, including the name
change from "BMO Short Term Income Class" to "BMO Capital Yield Class", will
be implemented later in the year, when the manager is in a position to proceed
with the changes in a manner that is cost-effective and compliant with
applicable regulatory requirements, and is in the best interests of the
    Once implemented, the new investment objectives will be to provide a
return similar to that of a fixed income fund by investing primarily in
Canadian equity securities and entering into forward contracts or other
permitted derivatives in order to provide the fund with a return determined by
reference to the performance of a fixed income fund. It is expected that the
earnings derived from these transactions will be treated as capital gains and,
if distributed to shareholders, will be capital gains dividends for tax
purposes. Where, in the opinion of the portfolio manager, the after tax
returns do not outweigh the costs of using the derivative strategy, the fund
may primarily invest directly in fixed income securities. In these
circumstances, it is expected that the earnings generated will be interest

    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 and term investments of
$296.5 billion as at January 31, 2007.

For further information:

For further information: JoAnne Hayes, Toronto,,
(416) 867-3996; Lucie Gosselin, Montreal,, (514)
877-1101; Laurie Grant, Vancouver,, (604) 665-7596;

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