Company Press Release

BMO Global Asset Management Launches Short Tax-Free Fund

CHICAGO, Nov. 29, 2012 -- BMO Global Asset Management announced today the addition of the BMO Short Tax-Free Fund (MTFYX, MTFIX). By primarily investing in municipal bonds, the Fund will seek to provide current income exempt from federal income tax consistent with the preservation of capital. It will typically maintain a dollar weighted effective maturity between one and three years. The benchmark for the Fund will be the Barclays Municipal Short (1-5 Year) Index.

The BMO Short Tax-Free Fund will be managed by the same investment team - and with a parallel philosophy and process - as the BMO Ultra Short Tax-Free (MUYSX, MUISX) and Intermediate Tax-Free Funds (MITFX, MIITX). The BMO Intermediate Tax-Free Fund received the 2012 Lipper Fund Award for best risk-adjusted performance over five years among 125 Intermediate Municipal Debt Funds.

"Our clients, and prospective clients, are looking for yield curve opportunities in the municipal markets, opportunities that offer optimal tax solutions," said Barry S. McInerney, Co-Chief Executive Officer, BMO Global Asset Management. "This new fund adds to the diverse stable of funds we offer, ensuring a wide selection of choices, depending on a client's risk tolerance."

Continuing the growth of the BMO Funds family, the new BMO Short Tax-Free Fund adds to an already impressive suite of investment options from BMO Global Asset Management. This marks the sixth new fund the firm has launched over the past 12 months, bringing the current total to 24. BMO Funds offers actively managed mutual funds across the risk/reward spectrum - funds that are designed to be the building blocks of a well-diversified portfolio.

"With the addition of the BMO Short Tax-Free Fund to the BMO Funds Tax-Free suite, an investor can set up a liquidity tiering strategy to help create a more effective fixed income portfolio," said Duane McAllister, co-Portfolio Manager. "By allocating their assets into four distinct segments based on their short and intermediate-term requirement, an investor is able to increase the overall return while maintaining a measure of stability and liquidity."

Most recently, the BMO Low Volatility Equity Fund (MLVYX, MLVEX) was launched in October. It is designed to provide investors with long-term returns similar to U.S. large cap stocks, but with less volatility. The Fund seeks capital appreciation by investing in stocks of large-sized U.S. companies similar in size to those within the Russell 1000(®) Index.

In January, the organization introduced four additional funds: the BMO Pyrford Global Strategic Return Fund (MGRYX, MGRNX), BMO Pyrford International Stock Fund (MISYX, MISNX), BMO Monegy High Yield Bond Fund (MHBYX, MHBNX) and BMO Dividend Income Fund (MDIYX, MDIVX).

For more information on BMO Funds, please visit: www.bmofundsus.com

About BMO Family of Funds

The BMO Funds are a global family of actively managed mutual funds. The firm's 24 funds span the risk/reward spectrum and include: domestic and international equity funds, taxable and tax-free fixed income funds, emerging market equity and money market funds.

The family of funds is managed by multi-disciplined teams, based in Chicago, and by a network of world-class boutique managers, which are strategically located across the globe. This network includes Monegy, Inc. (Toronto), Pyrford International Ltd. (London), Lloyd George Management (Hong Kong) and Taplin, Canida & Habacht, LLC (U.S.).

Established in 1992, BMO Funds are advised by BMO Asset Management U.S. and offers Institutional (I) and Investor (Y) class shares. Along with its subsidiary boutiques and affiliates, the advisor oversees more than $50 billion in assets under management. BMO Funds is a part of BMO Financial Group, a fully diversified financial services organization with $542 billion total assets and more than 46,000 employees as of July 31, 2012.

Disclosures

BMO Global Asset Management is the brand name for various affiliated entities of BMO Financial Group that provide trust, custody, securities lending, investment management, and retirement plan services. Certain of the products and services offered under the brand name BMO Global Asset Management are designed specifically for various categories of investors in a number of different countries and regions. Products and services are only offered to such investors in those countries and regions in accordance with applicable laws and regulations. BMO Financial Group (NYSE: BMO), is a service mark of Bank of Montreal (BMO).

BMO Asset Management U.S. consists of BMO Asset Management Corp.

BMO Asset Management Corp. is the investment adviser to the BMO Funds. M&I Distributors LLC is the distributor. BMO Funds are not marketed or sold outside the United States.

Investors should carefully consider the investment objectives, risks, charges and expenses of the BMO Funds. This and other important information is contained in the prospectuses and/or summary prospectuses, which can be obtained by calling 1-800-580-3863. Please read carefully before investing.