News Releases

Harris Nesbitt Strengthens Consumer & Leisure Group with Key Investment Banking Hire

NEW YORK, June 20, 2005 – Harris Nesbitt, the U.S. investment and corporate banking arm of BMO Financial Group (NYSE, TSX: BMO), announced today it has hired John B. Phillips, Jr. as a Managing Director in its Consumer & Leisure Group.

Based in New York, Mr. Phillips joins a team of 12 investment banking professionals focusing on the consumer products and retailing sectors and will be primarily responsible for generating and managing client relationships in those sectors.

Mr. Phillips was most recently a Managing Director at Bentley Associates L.P., where he focused on providing financial, strategic and M&A advice to consumer products and services companies, food and beverage producers, business service companies and financial sponsors. He also attained extensive industry experience working with food, beverage and selected consumer companies while at PaineWebber Inc., Smith Barney Inc. and Oppenheimer & Co. Inc.

"John has had an impressive career in investment banking, with the last 15 years spent serving a broad base of clients in the consumer sector. He will focus on providing clients with the sector knowledge and transactional experience he has gained from servicing the entire supply chain. He is especially skilled at identifying opportunities and advancing his clients' business strategies," said David Haas, Head of the Consumer & Leisure Group at Harris Nesbitt.

Mr. Phillips completed his undergraduate studies at Colgate University and received an MBA degree with honors from the Columbia University Graduate School of Business.

Consumer & Leisure is one of 10 sectors covered by Harris Nesbitt. The other industry groups the firm provides full-service investment products a nd services to are: Commercial & Industrial; Business Services; Energy & Power; Financial Institutions; Financial Sponsors; Healthcare; Media, Communications & Technology; Real Estate & Construction; and Food & Agribusiness, a sector that Harris Nesbitt has been committed to for more than 70 years.

Harris Nesbitt is an investment and corporate bank offering clients access to a full range of products and services including investment and corporate banking, treasury services, market risk management, institutional investing and research. Harris Nesbitt is part of Harris, an integrated financial services organization providing more than 1.5 million personal, business, corporate and institutional clients with banking, lending, investing and financial management solutions. Harris Nesbitt is a member of BMO Financial Group (NYSE, TSX: BMO). For more information, please visit www.harrisnesbitt.com.