BAM Bam Groep (Kon)

RNS No 9262d
BANK OF MONTREAL
11th February 1998


BANK OF MONTREAL ANNOUNCES CAPITAL TRANSACTIONS

TORONTO, February 11, 1998 - Bank of Montreal today announced two public
offerings of non-cumulative preferred shares in the domestic market.  The
offerings total $400,000,000.

The first offering is the $200,000,000 issue of Class B Preferred Shares, Series
4, priced at $25 per share to yield 4.80%.  On or after August 25, 2005 the Bank
may redeem shares of this issue for cash at a declining premium or it may
convert shares of this issue into Bank of Montreal common shares based on 95% of
the weighted average trading price of the common shares.  Shares of this issue
will also be convertible by the holder into common shares on or after May 25,
2008, based on 95% of the weighted average trading price of the common shares,
subject to the Bank's pre-emptive right to redeem the shares for cash or find
substitute purchasers.

The second offering is the $200,000,000 issue of Class B Preferred Shares,
Series 5, priced at $25 per share to yield 5.30%.  This issue is perpetual but
is redeemable by the Bank on or after February 25, 2013 for $25 per share.

Nesbitt Burns Inc. is the lead underwriter on these issues, which are expected
to close on February 26.  The preferred shares are not being offered or sold in
the United States.  Both issues will add to the Bank's Tier 1 capital base.

Bank of Montreal, Canada's first bank, is a highly diversified financial
services institution.  The bank's group of companies includes Nesbitt Burns, one
of Canada's largest full-service investment firms, Chicago-based Harris Bank, a
major U.S. mid-west financial institution and mbanx, the first North American
virtual banking unit.  Bank of Montreal has an equity position in and an
alliance with Grupo Financiero Bancomer, the leading Mexican financial
institution.

Contacts:
Paul Gammal, Toronto, (416) 927-2740
Ronald Monet, Montreal, (514) 877-1101

Internet: www.bmo.com


END

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