RNS Number:5767J
Bank of Montreal
02 April 2003

                       Amended Notice of Early Redemption



The following amends the Early Red. Fl. Rate Sub Notes announcement released 28
February 2003 at 14:23 under RNS number 1431I.

The Optional Redemption Date is April 15 2003, and not April 9 2003, as
previously stated.

All other details remain unchanged, and the full amended text appears below.




                                BANK OF MONTREAL
                                  (the "Bank")


      US$350,000,000 Floating Rate Subordinated Notes, Series B1, due 2008
                issued under its Euro Medium Term Note Programme
                           (the "Subordinated Notes")


ISIN No:           XS0085879731
Common Code:            8587973


NOTICE IS HEREBY GIVEN that, pursuant to Condition 6(d) of the Terms and
Conditions of the Subordinated Notes, the Bank will redeem all outstanding
Subordinated Notes on the optional redemption date of April 15, 2003 (the
"Optional Redemption Date"), at 100 per cent. of their principal amount plus any
accrued interest thereon to but excluding the Optional Redemption Date. Interest
on the Subordinated Notes will cease to accrue from and after the Optional
Redemption Date.

Payment of principal and interest will be made to participants of Euroclear Bank
S.A./N.V and Clearstream Banking, societe anonyme in accordance with their
operating procedures.

Dated 27th March, 2003



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