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    Harris Private Bank Launches Charitable Giving Fund

    Harris Private Bank Launches Charitable Giving Fund

    CHICAGO, November 2, 2004 – Harris today introduced The Harris Charitable Giving Fund, a donor-advised fund that allows individuals to add a philanthropic component to their portfolio while realizing significant tax advantages with an initial investment of just $10,000. The Harris Charitable Giving Fund will be offered through Harris Private Bank and administered through Harris' myCFO Foundation, an independent public charity.

    "We are pleased to offer The Harris Charitable Giving Fund as an extension of our current philanthropic services such as the development and administration of private foundations and the inclusion of charitable giving within estate planning," said Graham Parsons, Executive Vice President, Harris Private Bank. "Our donor-advised fund is a very efficient option for those who wish to incorporate philanthropy as part of their wealth management strategy, but who prefer to outsource the administrative and due diligence burdens that can be associated with philanthropic efforts."

    The Harris Charitable Giving Fund affords investors many of the same advantages of a private foundation, but with fewer obligations as all the administrative responsibilities are handled by the fund manager, rather than the individual. Giving through the Harris Charitable Giving Fund offers investors the flexibility to recommend charitable recipients, as well as advise on the timing and amount of grants. Cash, publicly traded stocks, bonds and other securities, mutual funds, and certain restricted stock can be donated to the donor-advised fund. Gifts of real estate, artworks, closely held stock, limited liability company or partnership interests may be accepted subject to approval by the Foundation Board. The fund is structured so that donors can maintain as much anonymity as they wish.

    Donations to the Fund are eligible for an immediate income tax deduction up to the maximum allowed by law even though the charitable recipient ultimately recommended by the investor has not yet received the funds. Investors can avoid capital gains taxes by donating long-term appreciated securities, and can create or add to accounts by bequest, thus reducing the taxes imposed on their estates.

    "An ever-increasing number of wealthy families are making philanthropy a central part of their financial plan. The Harris Charitable Giving Fund gives our clients the flexibility to donate in a way that is both time- and cost-efficient, and allows them to recommend charitable organizations to benefit from their donation," said Claudia Sangster, director of philanthropy services for the myCFO Foundation.

    The myCFO Foundation, which administers the Harris Charitable Giving Fund, makes grants to local, regional, national and/or international charities. Donors can recommend qualified nonprofit organizations engaged in a wide range of charitable causes from health and medical research, education, environment, arts, culture, and emergency relief. The minimum startin g donation is $10,000 and the minimum grant awarded is $250, with grants processed at least weekly. The Harris Charitable Giving Fund program invests contributions in four separate pools of investments selected by the Foundation's board of directors and designed to reflect the risk and reward philosophy of its donors.

    About Harris Private Bank
    Harris Private Bank offers customized wealth management services to high net worth clients and is part of Harris, an integrated financial service organization that provides more than 1.5 million personal, business, corporate and institutional clients with banking, lending, investing, financial planning, trust administration, portfolio management, family office and wealth transfer services. Harris is a member of BMO Financial Group (NYSE, TSX: BMO). For more information, please visitwww.harrisbank.com.

    Harris is a trademark used by various financial service providers in the BMO Financial Group, a marketing name used by Bank of Montreal. Banking products and services are provided by Harris N.A. and The Harris Bank N.A. Members FDIC. Insurance and annuities are offered through Harris Bancorp Insurance Services, Inc (HBIS). Securities are provided by Harris Nesbitt Corp (HNC), a registered broker dealer, member NYSE, FINRA and SIPC and HarrisdirectLLC, a registered broker dealer, member FINRA and SIPC. HBIS, HNC and Harrisdirect are wholly owned subsidiaries of Harris Financial Corp. Products offered by HBIS, HNC and Harrisdirect are Not Insured by the FDIC or any Federal Government Agency, Not a Deposit of or Guaranteed by Any Bank or Bank Affiliate, May Lose Value. The purchase of insurance or an annuity is not a condition on any bank loan or service. Financial planning and investment advisory services are provided by Sullivan, Bruyette, Speros & Blayney, Inc., an SEC registered investment advisor. Family office services are provided by Harris myCFO, Inc. Investment advisory services are also offered by Harris myCFO Investment Advisory Services LLC, an SEC registered investment advisor and a wholly-owned subsidiary of Harris myCFO, Inc. Not all products and services are offered in every state and/or location.




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