BMONT Split Corp. Declares Quarterly Dividend on Preferred Shares and Suspension of Capital Share Dividend

    TORONTO, Jan. 8 /CNW/ - The Board of Directors of BMONT Split Corp. (the
"Company") has declared today a dividend of $0.3089 per Preferred Share,
payable on February 5, 2009 to holders of record at the close of business on
January 27, 2009. Holders of Preferred Shares are entitled to receive
quarterly fixed cumulative distributions equal to $0.3089 per Preferred Share.
    The Company also announced that the Board has changed the dividend policy
on the Capital Shares. As a result of the declining downside asset coverage on
the Preferred Shares during the quarter, the Company has determined that any
excess of the dividends received by the Company on the Bank of Montreal common
shares minus the distributions payable on the Preferred Shares and all
administrative and operating expenses will be invested in short-term debt
securities or Bank of Montreal common shares until the scheduled redemption of
the Company's Capital Shares and Preferred Shares on August 5, 2009.

    BMONT Split Corp. is a mutual fund corporation created to hold a
portfolio of common shares of Bank of Montreal. Capital Shares and Preferred
Shares of BMONT Split Corp. are listed for trading on The Toronto Stock
Exchange under the symbols BMT and BMT.PR.A respectively.

    %SEDAR: 00020962E

For further information:

For further information: Investor Relations, BMONT Split Corp., (416)
945-5368, E-mail:, Web site:

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