TORONTO, ONTARIO -- (Marketwire) -- 08/16/10 -- BMO Bank of Montreal announced today it is decreasing its residential mortgage rates, effective August 17, 2010.

The new rates are:

Fixed Rates:                                                 To:    Change:
6 month fixed convertible                                   4.55%       N/C
6 month fixed open                                          6.45%       N/C
1 year fixed open                                           6.45%       N/C
1 year fixed closed                                         3.30%       N/C
2 year fixed closed                                         3.55%     -0.10%
3 year fixed closed                                         4.10%     -0.10%
4 year fixed closed                                         5.14%     -0.10%
5 year low rate fixed closed                                5.49%     -0.10%
5 year fixed closed                                         5.49%     -0.10%
6 year fixed closed                                         5.80%     -0.10%
7 year fixed closed                                         6.40%     -0.10%
10 year fixed closed                                        6.50%     -0.10%
18 year fixed open                                          8.85%     -0.10%

Special Offers(i)                                            To:    Change:
4 year fixed closed                                         3.99%     -0.10%
5 year low rate fixed closed                                3.79%     -0.10%
5 year fixed closed                                         4.09%     -0.10%
7 year fixed closed                                         4.85%     -0.10%
10 year fixed closed                                        4.95%     -0.10%

The interest rate for a fixed rate mortgage is calculated half-yearly not in advance.

(i)These special discounted rates are not the posted rates of BMO Bank of Montreal. Rates are subject to change without notice. Offer may be withdrawn or extended without notice. Mortgage funds must be advanced within 90 days of the application.

Internet: www.bmo.com