Institutional Shareholder Services Canada recommends that shareholders vote "FOR" proposed combination of MX with TSX Group

    MONTREAL, Jan. 28 /CNW Telbec/ - Montréal Exchange Inc. (MX) (TSX: MXX)
announced today that Institutional Shareholder Services Canada Corp. (ISS) has
formally recommended that their clients holding MX shares vote FOR the
proposed combination of Montréal Exchange Inc. with TSX Group Inc. to create a
leading integrated exchange group to be named TMX Group Inc. This
recommendation is the result of an independent and comprehensive analysis of
the proposal and its impact on shareholders.
    ISS, a subsidiary of RiskMetrics Group, is the world's leading provider
of corporate governance and proxy voting solutions. It provides proxy
research, voting services and corporate governance advisory services to
financial institutions and corporations worldwide. Based on its review of the
terms of the transaction, ISS believes the Amalgamation Agreement warrants
shareholder support.
    "We are very pleased with the ISS recommendation," said Luc Bertrand,
President and Chief Executive Officer of MX. "We look forward to our
combination with TSX Group and to implementing our common vision for the
future of Canadian capital markets, including the continued role of MX as the
Canadian derivatives exchange. We would like to reiterate that we believe the
proposed combination is in the best interests of MX and the MX shareholders."
    The proposed combination remains subject to MX shareholder and regulatory
approvals. As previously announced in the Management Proxy Circular, a special
general meeting of MX shareholders will be held on February 13, 2008 at
10:00 a.m. (Montréal time) at the Ritz-Carlton Montréal Hotel, Oval Room,
1228 Sherbrooke Street West, Montréal, to vote on the amalgamation resolution.
The resolution must be approved by at least 662/3% of the votes cast by MX
shareholders present in person or represented by proxy at the meeting.
    MX shareholders are encouraged to vote for the amalgamation resolution by
completing, signing, dating and returning their proxy form no later than
5:00 p.m. (Montréal time) on February 11, 2008. Shareholders requiring
assistance in voting their proxies should call the Proxy Solicitation Agent,
Kingsdale Shareholder Services Inc., toll-free, at 1-800-775-1986.

    About Montréal Exchange Inc.

    The Montréal Exchange (MX) is the Canadian derivatives exchange. The MX
offers trading in Canadian interest rate, index and equity derivatives.
Clearing, settlement and risk management services are provided by an AA rated
clearing house, the Canadian Derivatives Clearing Corporation, fully owned by
the MX. Our integrated trading and clearing services are supported by a
proprietary suite of exchange technologies, known as SOLA(R). The MX also has
interests in: the Boston Options Exchange (BOX), a U.S. automated equity
options market, for which MX is the technical operator; the Canadian Resources
Exchange (CAREX), a new corporation created with NYMEX that is dedicated to
developing the Canadian energy market; and the Montréal Climate Exchange
(MCeX), a joint venture with the Chicago Climate Exchange(R), aiming to
establish the leading market for publicly traded environmental products in
Canada. For more information about the Montréal Exchange, please visit

    Caution Concerning Forward-Looking Statements

    This press release may contain forward-looking statements including
statements regarding the completion of the proposed combination of MX with
TSX Group Inc. and other statements that are not historical facts. These
statements generally can be identified by the use of the conditional, the use
of forward-looking terminology such as "may", "will", "expect", "intend",
"estimate", "anticipate", "plan", "foresee", "believe", "propose" or the
negative of these terms or variations of them or similar terminology. Such
forward-looking statements are subject to important risks, uncertainties and
assumptions. The results or events predicted in these forward-looking
statements may differ materially from actual results or events. As a result,
you are cautioned not to place undue reliance on these forward-looking
    The completion of the proposed combination is subject to a number of
conditions precedent, including MX shareholder approval and regulatory
approvals. These approvals may not be obtained, the other conditions precedent
to the transaction may not be satisfied in accordance with their terms, and/or
the parties to the Combination Agreement may exercise termination rights, in
which case the proposed combination could be amended or terminated.
    The forward-looking statements contained in this press release are made
as of the date of this release. We disclaim any intention and assume no
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, unless required to do
so by securities law. Additionally, we undertake no obligation to comment on
expectations of, or statements made by, third parties in respect of the
proposed combination. For additional information with respect to certain of
these and other assumptions and risks, please refer to the "Risk Factors"
section of the Management Proxy Circular of MX, dated January 10, 2008, and to
other relevant documents found on and as well as on
    Permission to quote the recommendation of ISS Canada was neither sought
nor obtained.

For further information:

For further information: Jean Charles Robillard, (514) 871-3551,

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