Bank of Montreal to Repurchase Up to 15 Million of its Common Shares

Bank of Montreal to Repurchase Up to 15 Million of its Common Shares 
TORONTO, ONTARIO -- (Marketwire) -- 01/30/13 -- Bank of Montreal (the
Bank) (TSX:BMO)(NYSE:BMO) today announced that it has received
approvals from the Toronto Stock Exchange (TSX) and the Office of the
Superintendent of Financial Institutions Canada (OSFI) to proceed
with a normal course issuer bid through the facilities of the TSX to
purchase, for cancellation, up to 15 million of its common shares
commencing February 1, 2013, and ending January 31, 2014.  
The maximum number of common shares that may be repurchased under the
normal course issuer bid represents approximately 2.3 per cent of the
Bank's 'public float' (as such term is defined in the TSX Company
Manual) of common shares. The timing and amount of purchases under
the program are subject to management discretion based on factors
such as market conditions and capital adequacy. The Bank will only
initiate purchases under the bid after consulting with OSFI. The Bank
will pay the market price for the shares at the time of acquisition. 
There were 651,952,451 Bank of Montreal common shares issued and
outstanding as at January 21, 2013, and the public float was
651,265,542 common shares. The average daily trading volume for the 6
months ended December 31, 2012 and the daily maximum number of shares
available for purchase, calculated pursuant to the rules of the TSX
for the purposes of the bid, were 1,182,049 and 295,512 shares,
The Bank's Basel II Tier 1 capital ratio was 12.6 percent, and the
Bank's pro-forma Basel III Common Equity Ratio was 8.7 percent, as at
October 31, 2012. The normal course issuer bid is part of BMO's
capital management strategy.
For Media Relations Enquiries:
Ralph Marranca, Toronto
(416) 867-3996 
Ronald Monet, Montreal
(514) 877-1873 
For Investor Relations Enquiries:
Sharon Haward-Laird, Toronto
(416) 867-6656 
Andrew Chin, Toronto
(416) 867-7019
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