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BMO Congratulates Mark Carney on Appointment as Governor of the Bank of England

TORONTO, ONTARIO -- (Marketwire) -- 11/26/12 -- BMO Financial Group today offered its congratulations to Bank of Canada Governor Mark Carney, who will become the new Governor of the Bank of England on July 1, 2013.

"Mark Carney has been an exceptional steward of Canada's monetary policy," said Bill Downe, President and Chief Executive Officer, BMO Financial Group. "He has enormous personal credibility - both in Canada and around the globe. He brought clarity of purpose and resolve to his roles as Governor of the Bank of Canada and Chair of the Financial Stability Board. The Governor stands out as an independent thinker - putting clearly defined principles first and doing an extraordinarily good job of explaining to all market participants how and when policy action is necessary and appropriate.

"Canadians have been well served by Governor Carney and the Bank of Canada. We congratulate him on his appointment as Governor of the Bank of England - he brings immense depth and capability to this next assignment."

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $542 billion as at July 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

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