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Bank of Montreal to Redeem $200,000,000 Non-Cumulative Class B Preferred Shares Series 5

TORONTO, ONTARIO -- (Marketwire) -- 01/24/13 -- Bank of Montreal today announced its intention to redeem all of its $200,000,000 Non-cumulative Class B Preferred Shares Series 5 ("Preferred Shares Series 5") on February 25, 2013.

The Preferred Shares Series 5 are redeemable at Bank of Montreal's option on February 25, 2013 at a redemption price of $25.00 per share together with declared and unpaid dividends to the date fixed for redemption. Payment of the redemption price will be made by Bank of Montreal on or after February 25, 2013 upon surrender of the Preferred Shares Series 5.

Separately from the payment of the redemption price, the final quarterly dividend of $0.33125 per share for the Preferred Shares Series 5 will be paid in the usual manner on February 25, 2013 to shareholders of record on February 1, 2013.

Notice will be delivered to holders of the Preferred Shares Series 5 in accordance with the terms outlined in the Preferred Shares Series 5 prospectus.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $525 billion as at October 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

Contacts:
For News Media inquiries:
Ralph Marranca, Toronto
(416) 867-3996
ralph.marranca@bmo.com

Ronald Monet, Montreal
(514) 877-1873
ronald.monet@bmo.com

For Investor Relations inquiries:
Sharon Haward-Laird, Toronto
(416) 867-6656
sharon.hawardlaird@bmo.com

Andrew Chin, Toronto
(416) 867-7019
andrew.chin@bmo.com

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