BAM Bam Groep (Kon)

RNS Number:9568E
Bank of Montreal
3 February 2000


Bank of Montreal Acquires Florida Bank, Continues Growth in the U.S.

TORONTO, February 3, 2000 - Bank of Montreal, through its Chicago-based
subsidiary Harris Bank, is acquiring Village Banc of Naples, Florida. The new
locations in Naples and Ft. Myers allow the bank to expand its Florida and U.S.
operations on the popular South Florida Gulf Coast.

"The acquisition of Village Banc of Naples is an excellent strategic fit," said
William Downe, Vice-Chair, Bank of Montreal and head of the Private Client
Group. "Expansion in the fast growing U.S. Sunbelt is a key component of the
banks six-point strategy, which calls for aggressively building the value of
Harris Bank and rapidly growing the bank's wealth management business.

"We are capitalizing on our capabilities in private banking and wealth
management and focusing on regions and cities frequented by Harris and Bank of
Montreal customers," said Mr. Downe, "The Bank of Montreal and Harris Bank
brands are well known and many people from Canada and the U.S. Midwest will be
confident in conducting their business with us in Florida, as will other
residents of the state."

Harris Bank has been a leader in trust and investment services in Florida since
the early 1980s, with full service branches in West Palm Beach, Sarasota and
Vero Beach. In addition to its Florida operations,and U.S, Midwest network of
140 locations, Harris Bank also has five branches in Arizona.

Village Banc of Naples has total assets of $115.8 million and $105.1 million in
deposits. It has experienced rapid growth in loans and deposits since opening
its main office in April 1997 and another branch in Ft. Myers in January 1999.
The transaction is valued at $19.3 million and is subject to regulatory
approval.

Bank of Montreal's Private Client Group brings together all of the banks wealth
management capabilities in six lines of business: retail investment products,
direct and full service investing, Canadian and U.S. private banking, and
institutional asset management.

Bank of Montreal's six-point strategy for continuing its high growth objectives
involves:

-  Continuing to aggressively build the value of Harris Bank;
-  Rapidly growing the Bank's wealth management business;
-  Capitalizing on Bank of Montreal's strong Canadian position in personal
   and commercial banking;
-  Building on the bank's strong leadership position in investment banking;
-  Driving e-business opportunities;
-  Intensively focusing on cost, capital and risk management.


Contacts:
Ian Blair, Toronto, (416) 927-2740
Ron Monet, Montreal, (514) 877-1101
Maeve Kiley, Chicago (312) 293-8905

Internet: http://www.bmo.com

END
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