Issue of Debt

RNS Number:8135R
Bank of Montreal
29 September 2000

Bank of Montreal Announces Issuance by BMO Capital Trust

TORONTO, September 29, 2000 - Bank of Montreal today announced that BMO Capital
Trust will issue $350 million in Trust Capital Securities - Series A (BMO BOaTS)
on October 11, 2000, which Trust Capital Securities will qualify as Tier 1
capital of the bank for regulatory purposes.

Mr Robert B Wells, the Bank's CFO and Executive Vice President indicated that
"it is a cost effective means of raising capital".

BMO BOaTS have no maturity date, but are redeemable for $1,000 at the option of
BMO Capital Trust on or after December 13, 2010.

Subject to BMO Capital Trust's right to redeem and the Bank's right to acquire
the BMO BOaTS, commencing December 31, 2010 holders have the right to exchange
their BMO BOaTS for Bank preferred shares which are immediately convertible into
common shares of the Bank. In certain circumstances, the BMO BOaTS will be
exchanged automatically for Bank preferred shares.

Bank of Montreal (TSE, NYSE: BMO), Canada's first bank, is a highly Diversified
financial services institution. The bank operates more than 30 lines of business
within its group of companies, including BMO Nesbitt Burns, one of Canada's
largest full-service investment firms and Chicago-based Harris Bank, a major
U.S. mid-west financial services provider.

Contacts:
Ralph Marranca, Bank of Montreal, Toronto [phone]
Ron Monet, Bank of Montreal, Montreal [phone]

Internet: http://www.bmo.com