BMO Bank of Montreal Decreases Mortgage Rates

BMO Bank of Montreal Decreases Mortgage Rates

    TORONTO, Sept. 4 - BMO Bank of Montreal announced today it is
decreasing its residential mortgage rates, effective September 5, 2009. The
new rates are:

    Variable Rates:                   To:         Change:
    5 year variable closed term     2.55%          -0.10%

    Fixed Rates:                      To:         Change:
    6 month fixed convertible       4.55%          -0.20%
    6 month fixed open              6.35%          -0.20%
    1 year fixed open               6.80%          -0.20%
    1 year fixed closed             3.70%          -0.20%
    2 year fixed closed             3.85%          -0.20%
    3 year fixed closed             4.35%          -0.20%
    4 year fixed closed             4.94%          -0.30%
    5 year fixed closed             5.49%          -0.36%
    6 year fixed closed             6.10%          -0.20%
    7 year fixed closed             6.60%          -0.20%
    10 year fixed closed            6.75%          -0.20%
    18 year fixed open              8.95%           0.00%

    (The interest on fixed-rate mortgages compounds semi-annually, not in
    advance.)

    Special Offers(*)                 To:         Change:
    5 year  (fixed/closed)          4.19%          -0.36%

    (*)This special discounted rate is not the posted rate of BMO Bank of
    Montreal. Rates are subject to change without notice. Offer may be
    withdrawn or extended without notice. Mortgage funds must be advanced
    within 90 days of the application.

For further information: Media Contact: Kasia Lech, Toronto, (416)
867-3996, kasia.lech@bmo.com; Lucie Gosselin, Montreal, (514) 877-8224,
lucie.gosselin@bmo.com; Laurie Grant, Vancouver, (604) 665-7596,
laurie.grant@bmo.com; Internet: www.bmo.com

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