Re Debenture Redemption

RNS Number:4880N
Bank of Montreal
6 July 2000


Bank of Montreal Announces Debenture Redemption

TORONTO, July 6, 2000--Bank of Montreal today announced that on August 8, 2000,
it will redeem all of its Floating Rate Series 13 Debentures, due in 2089.

These debentures are redeemable at the Bank's option from August 8, 2000, at a
redemption price of 100 per cent of the principal amount plus unpaid accrued
interest to the redemption date.

Bank of Montreal (TSE, NYSE: BMO), Canada's first bank, is a highly diversified
financial services institution.  The bank operates in 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 institution.  Bank of Montreal has an equity
position in and a strategic alliance with Grupo Financiero Bancomer, a leading
Mexican financial institution.

Contacts:
Joe Barbera, Toronto, [phone]
Ronald Monet, Montreal, [phone]

Internet:  http://www.bmo.com