Lee Westerfield Joins Media Investment Banking Team at BMO Capital Markets to Focus on Broadcasting Sector

    NEW YORK, Jan. 16 /CNW/ - BMO Capital Markets, the investment and
corporate banking arm of BMO Financial Group (NYSE, TSX: BMO), announced today
that Lee Westerfield, Managing Director, has moved into a new role with the
Business Services & Media Group to drive the firm's investment banking focus
on broadcasting companies.
    "We expect the broadcasting industry to go through a major restructuring,
with a significant rebalancing of companies' businesses and balance sheets,"
said Susan Wolford, Head of the BMO Capital Markets Business Services & Media
Group. "Lee's in-depth industry knowledge, combined with the structuring
product knowledge of our M&A group, including our recent hire David Sawyer, as
head of our U.S. Restructuring Group, will help our media and financial
sponsor clients capitalize on new and exciting opportunities."
    Mr. Westerfield, based in New York, brings deep knowledge to the BMO
Capital Markets investment banking team gained from his 16 years of experience
in media. For more than a decade, Lee has held senior equity analyst positions
covering the media sector. Since 2004, Lee covered U.S. broadcasting,
publishing and Internet media companies within BMO Capital Markets Equity
Research. Previously, he held similar senior equity analyst roles at UBS and
its predecessor PaineWebber. He has been named among the "Best on The Street"
by The Wall Street Journal. Lee holds a BA from Yale University and an MBA
from Columbia University.

    About the BMO Capital Markets Business Services & Media Group

    The BMO Capital Markets Business Services & Media Group has a dedicated
team of more than 30 professionals offering clients a full array of financial
products and services, including M&A advisory, public equity and debt
underwriting, syndicated lending, and private placements. To learn more,
visit: http://www.bmocm.com/industry/us/busservices

    About BMO Capital Markets

    BMO Capital Markets is a leading full-service North American financial
services provider, with over 2,400 employees operating in 14 North American
offices and 26 worldwide, offering corporate, institutional and government
clients access to a complete range of investment and corporate banking
products and services. BMO Capital Markets is a member of BMO Financial Group
(NYSE, TSX: BMO), one of the largest diversified financial services providers
in North America with US$345 billion total assets and 37,000 employees as at
October 31, 2008.

For further information:

For further information: visit www.bmocm.com. Media Relations Contacts:
Kevin Windorf, New York, kevin.windorf@bmo.com, (212) 885-4111; Holly Holt,
New York, holly.holt@bmo.com, (212) 885-4153; Orli Namian, Toronto,
orli.namian@bmo.com, (416) 867-4914

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