BAM Bam Groep (Kon)

RNS Number:1497L
Bank of Montreal
24 May 2000


Bank of Montreal Announces Buyback of 3.7 Per Cent of its
Common Shares

TORONTO, May 24, 2000 - Bank of Montreal today announced its intention to make a
normal course issuer bid to buy back up to 3.7 per cent of its common shares.
The notice of intent has been filed with, and accepted by, the Toronto Stock 
Exchange.

The notice provides that the bank may, during the period commencing May 26,
2000, and ending October 31, 2000, purchase on the Toronto Stock Exchange up to
10,000,000 common shares in total, or approximately 3.7 per cent of the issued
and outstanding common shares.  The bank will pay the market price for the
shares at the time of acquisition.  The actual number of common shares which may
be purchased, and the timing of any such purchases, will be determined by the
bank.  There were 268,025,702 common shares of Bank of Montreal issued and
outstanding as at April 30,2000.

The normal course issuer bid is being established to enhance shareholder value
by ensuring that an optimal level of capital and a more competitive and
lower-cost capital mix are maintained to support the growth of the bank's
businesses.

The bank's shares are listed on the Toronto, Winnipeg, London and New York stock
exchanges.


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

Internet: http://www.bmo.com


END
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