As a result of a proposed fund merger involving its current underlying fund, it is expected that, on or about November 27, 2009, the underlying fund to the Fund will become BMO Emerging Markets Fund. The investment objective of the Fund is to provide long-term capital appreciation. Currently, the Fund seeks a similar return to BMO Guardian Emerging Markets Fund by investing primarily in units of that fund. On the effective date of the merger, the Fund will seek a similar return to BMO Emerging Markets Fund by investing primarily in units of that fund.

The anticipated merger of BMO Guardian Emerging Markets Fund into BMO Emerging Markets Fund will occur on or about November 27, 2009 pending securityholder and regulatory approval. Securityholder approval is being sought at a special meeting to be held on or about November 10, 2009.

About BMO Investments Inc.

BMO Investments Inc. is a member of the BMO Financial Group and part of the organization's Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and had total assets under management and administration of $230 billion as at July 31, 2009.

SOURCE: BMO Bank of Montreal

SOURCE: BMO Financial Group

Media Contacts: Kasia Lech, Toronto, kasia.lech@bmo.com, (416) 867-3996; Ronald Monet, Montréal, ronald.monet@bmo.com, (514) 877-1873; Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596; Internet: www.bmo.com