Attention Business Editors:

/R E P E A T -- Rising Inflation, High Energy Prices and Weakening Housing Market Fuel Worries in Q3/

    BMO Canadian and U.S. CIOs host media conference call to discuss North
    American equity markets, economies and implications for investors

    TORONTO, July 21 /CNW/ -

    What:

    Join Canadian and U.S. Chief Investment Officers from BMO Harris Private
Banking and Harris Private Bank to hear their economic and capital markets
forecasts for the third quarter of 2008.
    CIOs Paul Taylor and Jack Ablin say that rising oil prices and
inflation-fuelled investor pessimism, along with housing market softness,
continue to pressure both Canadian and U.S. equity markets.

    During the call, the CIOs will discuss three different economic and
capital markets' outlook scenarios, including:

    <<
    -   A hard landing for North America's economy with an outright U.S.
        consumer-led recession;
    -   A soft landing for the North American economy as the housing market
        begins to stabilize and the U.S. labour market moderates;
    -   The North American economy rebounds thanks to aggressive monetary and
        fiscal policy actions, a revitalized housing market and stabilized
        consumer spending.

    Market volatility spurs investor jitters

    The events of the first half of 2008 have created a challenging
    environment in which to generate returns and the possibility of further
    downside risks remain.

    Capital markets around the globe were impacted by four main factors in
    the second quarter of 2008:

    -   Continued financial sector turmoil;
    -   U.S. Federal Reserve moves to the sidelines;
    -   Crude oil passes the $140 per barrel mark;
    -   Inflation and recession fears.
    >>

    For more commentary and analysis on the Canadian and U.S. markets and
what this means for investors, media are invited to participate in for an
interactive briefing at 10 a.m. EDT on Thursday, July 24, 2008.

    Media conference call details:

    Who:

    Host: Graham Parsons, Executive Vice President, Global Private Banking,
    BMO Harris Private Banking

    Paul Taylor, Chief Investment Officer, BMO Harris Private Banking,
    Toronto

    Jack Ablin, Chief Investment Officer, Harris Private Bank, Chicago

    When:

    Thursday, July 24, 2008
    10 a.m. EDT

    Media call in number for BMO Harris Private Banking conference call:

    416-695-7806 / 888-789-9572

    Participant passcode:

    3266180 followed by the number sign.

    The call will be archived at www.bmoharrisprivatebanking.com for seven
days and a print transcript of the conference call will be available upon
request.

    BMO Harris Private Banking and Harris Private Bank are part of BMO
Financial Group's Private Client Group. The Private Client Group provides
integrated wealth management services in Canada and the United States and had
total assets under administration and term investments of $286 billion as at
April 30, 2008.

For further information: Media Relations contacts: Deborah Rowe,
Toronto, deborah.rowe@bmo.com, (416) 867-3996; Lucie Gosselin, Montreal,
lucie.gosselin@bmo.com, (514) 877-8224; Laurie Grant, Vancouver,
laurie.grant@bmo.com, (604) 665-7596; Colleen Kroll, Chicago,
colleen.kroll@harrisbank.com, (312) 461-7865; Internet:
www.bmoharrisprivatebanking.com, www.theharris.com