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BMO Asset Management Announces Proposed Changes to Certain BMO ETFs

TORONTO, ONTARIO -- (Marketwire) -- 01/29/13 -- BMO Asset Management Inc. (BMO Asset Management) today announced that a special meeting of unitholders (Special Meeting) has been called to consider and approve changes to the investment objectives of certain BMO Exchange Traded Funds (BMO ETFs) such that they will seek to replicate the performance of new indices as follows:

BMO ETF                         Ticker      Proposed New Index              
BMO International Equity                    MSCI EAFE 100% Hedged to CAD    
Hedged to CAD Index ETF         ZDM         Dollars Index                   
BMO Emerging Markets Equity                                                 
Index ETF                       ZEM         MSCI Emerging Markets Index     

The Special Meeting will be held in Toronto at 10a.m. ET on March 28, 2013. Details of the proposed changes will be outlined in a joint management information circular, which will be prepared and delivered to unitholders of record as of February 22, 2013. Implementation of the changes will also be subject to acceptance by the Toronto Stock Exchange.

If the change to the investment objective of each of the BMO ETFs is approved, BMO Asset Management expects that the transition to the proposed new investment objectives will be fully implemented on or about April 1, 2013, and no later than June 30, 2013.

Provided that the approval of unitholders is obtained, BMO Asset Management will also update the investment strategies and expects to change the name of each of the BMO ETFs. It is expected that the ticker symbols for BMO International Equity Hedged to CAD Index ETF and BMO Emerging Markets Equity Index ETF will remain the same.

If the above changes are approved, BMO Asset Management also expects to lower the maximum annual management fee for BMO International Equity Hedged to CAD Index ETF to 0.350 per cent and for BMO Emerging Markets Equity Index ETF to 0.450 per cent.

The BMO ETFs are managed and administered by BMO Asset Management, a portfolio manager, investment fund manager and a separate legal entity from Bank of Montreal. Further information about BMO ETFs can be found at www.bmo.com/etfs.

Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with BMO Asset Management and any related funds.

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.

Media Contacts:
Amanda Robinson, Toronto
[email protected]

Valerie Doucet, Montreal
[email protected]

Laurie Grant, Vancouver
[email protected]

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