BAM Bam Groep (Kon)

RNS No 0399q
BANK OF MONTREAL


TONY COMPER ELECTED CHAIRMAN OF BANK OF MONTREAL

TORONTO, JULY 27, 1999 - Tony Comper, Chief Executive Officer, Bank of Montreal,
was elected Chairman of the banks Board of Directors late last evening,
succeeding Matthew W. Barrett who has now retired from the position.

Mr. Comper has been Chief Executive Officer of the bank since February 23, 1999.
He was named President in 1990.

Since Mr. Comper's appointment as Chief Executive Officer in February, he has
undertaken several key initiatives, including:

Completing a major internal reorganization to realign the bank's businesses to
better meet the needs of its major client segments; 
Forming a new senior leadership team to develop and execute the strategies for
each of the bank's lines of business; 
Introducing a new, matching Employee Share Ownership program that encourages all
employees to become "owners" of the bank; 
Implementing Value-Based Management throughout the Bank of Montreal Group of
Companies with the objective to maximize shareholder value.

"Bank of Montreal has embarked on a long-range strategy which focuses on
creating the optimum conditions for our employees to provide the greatest value
for our customers which in turn increases shareholder value," said Mr. Comper.

In a letter to all the bank's employees today, Mr. Comper wrote: Bank of
Montreal has a long and proud tradition and it gives me great pride to have been
given the mandate to lead this organization, and especially its talented and
dedicated employees, into the next century.

"Matt Barrett's leadership at the bank, in the business community and in Canada
has been nothing short of truly remarkable. I know that I speak on behalf of all
employees and shareholders as I wish him well in his new endeavour."

Bank of Montreal, Canada's first bank, is a highly diversified financial
services institution offering a full range of products and services in all three
NAFTA countries. The Bank's Group of Companies include Nesbitt Burns, one of
Canada's largest full-service investment firms, Chicago-based Harris Bank, a
major U.S. midwest financial institution and mbanx, the first North America-wide
virtual banking unit. Bank of Montreal has an equity position in, and an
alliance With, Grupo Financiero Bancomer, one of Mexico's leading financial
institutions.

Contacts:
Joe Barbera. Toronto (416) 927-2740
Ronald Monet, Montreal (514) 877-1101
Intemet: http.//www.bmo.com

Note* Biographical Information below



Tony Comper became Chairman and Chief Executive Officer of Bank of Montreal on
July 27, 1999. In three decades with the Bank, Mr. Comper has seen service in
virtually all its major operating areas. After graduating with a bachelors
degree in English from the University of Toronto, he joined the Bank in 1967.
Following postings at domestic branches and in the Personnel Department, Mr.
Comper was moved in 1971 to what was then the Operations and Systems Group. Bank
of Montreal was a Canadian leader in the introduction and development of a
nationwide, real-time computer system. Mr. Comper had a major role in its
evolution and subsequently was appointed Vice-President of Systems Development.

Mr. Comper also served in a wide range of other disciplines and gained a
comprehensive grounding in all of the Bank's businesses. In 1982, he was
promoted to Senior Vice-President, Personal Banking, and later served as Senior
Vice-President and Manager of the Banks Branch in London, England. He returned
to Canada in 1986 as Senior Vice-President and Senior Marketing Officer, 
Corporate and Government Banking,and was subsequently promoted to Executive
Vice-President, Operations. In 1989, Mr. Comper was appointed Chief General
Manager and Chief Operating Officer and on January 15, 1990, he was appointed
President of the Bank. 

Mr. Comper is a Director of the Board of the Bank and of its subsidiaries, 
Harris Bankcorp. Inc., Harris Trust and Savings Bank, and Nesbitt Burns
Corporation Ltd. He has honorary degrees from the University of Toronto (LL.D.)
and Mount Saint Vincent University (D.Hum.L.). He is also a member of the
International Business Leaders Advisory Council for the Mayor of Beijing; Chair
of the Capital Campaign of the University of Toronto: a Director of the C.D.
Howe Institute; the C.D. Howe Memorial Foundation; The Canadian Club of Toronto;
Catalyst, New York; and Honourary Chair of the Board of Governors of the Yee
Hong Centre for Geriatric Care. In 1998, Mr. Comper received the Human Relations
Award from the Canadian Council of Christians and Jews. 

Mr. Comper is married to Elizabeth, enjoys golf, classical music, the theatre
and art. 

END


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