BAM Bam Groep (Kon)

RNS Number:9561V
Bank of Montreal
15 December 2000

BANK OF MONTREAL TO PURCHASE ADDITIONAL SHARES OF 724 SOLUTIONS INC

TORONTO, December 15, 2000 - Bank of Montreal (TSE, NYSE,: BMO), announced today
that it has entered into an agreement for the purchase of 510,000 common shares
of 724 Solutions Inc. (724), (TSE:SVN,NASDAQ:SVNX) representing approximately
1.3 per cent of the issued and outstanding common shares of 724.

Combined with the bank's current holding of 3,428,570 common shares of 724, this
acquisition will bring the bank's ownership to 3,938,570 common shares, or
approximately 10.0 per cent of the outstanding common shares of 724, all of
which will be owned and controlled, directly or indirectly, by the bank.

The common shares are being acquired for investment purposes and will be
purchased, in a private transaction, from two shareholders of 724, Blue Sky
Capital Corporation and 1319079 Ontario Inc.  Both companies are owned and/or
controlled by Gregory Wolfond, Chairman and Chief Executive Officer of 724.

The purchase price for the common shares of 724 to be acquired will be $32.26
per share for a total price of $16,452,600.

Bank of Montreal, Canada's first bank, is a highly diversified financial
services institution.  The bank operates more than 30 lines of business within
its group of companies, including BMO Nesbitt Burns, one of Canada's largest
full-service investment firms and Chicago-based Harris Bank, a major U.S.
mid-west financial services provider.

Contact:

Joe Barbera, Toronto, (416) 927-2740
Ron Monet, Montreal, (514) 877-1101
Laurie Grant, Vancouver, (604) 665-7596

Internet: http://www.bmo.com

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