Bank of Montreal - Re Public Offering of Shares

RNS No 8000V
BANK OF MONTREAL
30th April 1998


Bank of Montreal Announces Capital Transaction

TORONTO, April 30, 1998 - Bank of Montreal today announced a public offering of
non-cumulative preferred shares in the domestic market. The offering totals
$250.000,000.

The issue is of Class B Non-Cumulative Preferred Shares, series 6, priced at $25
per share to yield 4.75%. On or after November 25, 2005 the bank may redeem
shares of this issue for cash at a declining premium or it may convert shares of
this issue into Bank of Montreal common shares based on 95% of the weighted
average trading price of the common shares. Shares of this issue will also be
convertible by the holder into common shares on or after November 25, 2008,
based on 95% of the weighted average trading office of the common shares,
subject to the bank's pre-emptive right to redeem the shares for cash or find
substitute purchasers.

Nesbitt Burns Inc. and RBC Dominion Securities Inc. are the lead underwriters of
this issue, which is expected to close on May 15, 1998. The preferred shares
are not being offered or sold in the United States. This issue will add to the
bank's Tier 1 capital base.

Bank of Montreal, Canada's first bank, is a highly diversified financial
services institution. The bank's group of companies includes Nesbitt Burns, one
of Canada's largest full-service investment firms, Chicago-based Harris Bank,
and mbanx, the first North American-wide virtual bank. Bank of Montreal also has
an equity position in and an alliance with Grupo Financiero Bancomer, Mexico's
largest retail bank.

Contacts:

Paul Gammal, Toronto, [phone] 
Lucie Gosselin, Montreal, [phone]



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