Dividend Declaration

RNS Number:9774S
Bank of Montreal
24 October 2000



                 BANK OF MONTREAL DECLARES DIVIDEND

TORONTO, October 24, 2000 - Bank of Montreal's Board of Directors today declared
a quarterly dividend of $0.50 cents a share on paid-up common shares of the bank
for the fourth quarter of fiscal year 2000, the same as for the previous
quarter.

For the current quarter, the board also declared a dividend of 56.250 cents a
share on paid-up Class B Preferred Shares Series 1 of the bank, a dividend of
U.S.42.190 cents a share on the paid-up Class B Preferred Shares Series 2 of the
bank, a dividend of 34.6875 cents a share on the paid-up Class B Preferred
Shares Series 3, a dividend of 30.00 cents a share on the paid-up Class B
Preferred Shares Series 4, a dividend of 33.125 cents a share on the paid-up
Class B Preferred Shares Series 5 of the bank and a dividend of 29.6875 cents a
share on the paid-up Class B Preferred Shares Series 6 of the Bank.

The dividend on the common shares is payable November 29, 2000, to shareholders
of record on November 3.  The dividend on the preferred shares is payable
November 27, 2000, to shareholders of record on November 3.


Contacts:

Joe Barbera, Toronto      [phone]
Lucie Gosselin, Montreal  [phone]