BMO Financial Group today announced its intention, subject to Toronto Stock Exchange and regulatory approval, to renew its normal course issuer bid through the facilities of the Toronto Stock Exchange.

During the period commencing Sept. 6, 2007, and ending Sept. 5, 2008, BMO may purchase for cancellation on the TSX up to 25 million common shares, being approximately 5% of the public float.

The actual number of common shares that may be purchased and the timing of any such purchases will be determined by BMO. The bank will pay the market price for the shares at the time of acquisition.

BMO’s previous 12-month normal course issuer bid expires on Sept. 5, 2007 and as at June 30, 2007, 5,330,300 common shares were repurchased under that bid at an average price of $69.72. There were 499,678,910 BMO common shares issued and outstanding as at June 30, 2007 and the public float was 498,999,072 common shares.

BMO Financial Group’s Tier 1 ratio was 9.67%, as at April 30, 2007. The normal course issuer bid is being renewed as part of BMO’s capital management strategy.