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TORONTO, ONTARIO--(Marketwire - May 19, 2010) -

Editors Note: There is a photo associated with this Press Release.

BMO Bank of Montreal (TSX:BMO)(NYSE:BMO) is assisting new Canadians with the introduction of its Newcomers to Canada Program, providing new Canadians with banking products and services essential for settling in their new country. Special offers include free banking for the first year, a free small safety deposit box for one year, and a preferred GIC rate for those customers with saving and investment needs.

According to Citizenship and Immigration Canada, there were nearly 250,000 immigrants to Canada in 2008. In Toronto and Vancouver alone, there were approximately 87,000 and 37,500 immigrants, respectively.

"As Canada's first bank, BMO has always made supporting newcomers a priority. We have a long and proud history of serving the financial needs of multicultural communities," said Su McVey, Vice-President, Customer Communications & Marketing, BMO Bank of Montreal. "We are committed to helping make the transition for new Canadians as smooth as possible and believe the BMO Banking Package for Newcomers will assist with the everyday banking needs of new Canadians."

BMO has spent more than 25 years assisting new immigrants with financial advisory services and is the only Canadian bank with branches in each of Beijing, Shanghai, Guangzhou and Hong Kong.

"At BMO, we understand moving to a new country may be stressful," said Lily Capriotti, Vice-President, Greater Toronto Area Central District, BMO Bank of Montreal. "Our community branches are staffed with multi-lingual employees and we offer financial solutions created specially to help newcomers achieve their personal and financial dreams in Canada."

BMO Banking Package for Newcomers Highlights:

Everyday Banking

• Free Performance Plan with unlimited transactions for the first year

Safety Deposit Box

• Free small safety deposit box (or 25 per cent off larger sizes) for the first year

BMO Term Investments

• Until September 1, 2010 BMO will offer a 0.50 per cent interest rate bonus on GIC's of one to five years

BMO MasterCard

• No-fee cash back and no-fee Air Miles options

Importance of Helping Newcomers Get Established

BMO Bank of Montreal understands the importance of helping newcomers get established as quickly and easily as possible. New Canadians play a vital role in contributing to our economic prosperity and we share a collective responsibility to ensure their transition to Canada is smooth.

Newcomer Customers can contact us at 1-877-CALL BMO; visit a local BMO branch or online at [ bmo.com/newtocanada ]