Media Release
BMO Financial Group and the Community Foundation of Ottawa Join Forces to Bolster Community Giving
BMO and Community Foundations of Canada Launch Canada's First Joint
National Philanthropic Program

Ottawa, November 18, 2003 - BMO Financial Group and Community Foundations of Canada (CFC), the largest network of public foundations in Canada, today launched Supporting Your Community , the first and most widely available philanthropic program of its kind in Canada.

Supporting Your Community is the first collaboration between a major Canadian financial institution and CFC's network of Community Foundations. This unique and distinctly Canadian program capitalizes on BMO's force of more than 2,200 investment professionals and over 130 community foundations across the country, to create more opportunities for donors to make charitable contributions that have a lasting, local impact. With a minimum donation of $25,000, Canadian donors can create their own charitable fund through the Supporting Your Community program.

Supporting Your Community helps donors formalize their giving and provides them with the charitable and financial advice to help maximize the impact of their donation in the community. The program will also help donors choose which local issues or charitable organizations they want to support and co-ordinate all grant-making activities.

"This highly collaborative effort between BMO Financial Group and CFC sends a strong signal to prospective philanthropists that building a permanent endowment for a charitable cause is now available to more Canadians than ever," says Bill Downe, Deputy Chair, BMO Financial Group and Chief Executive Officer, BMO Nesbitt Burns and Head of Investment Banking. "Community Foundations have the granting expertise and depth of community knowledge, which, combined with BMO's long tradition of building strong relationships with the communities where we do business, will help raise the profile of philanthropy across the country and bring a much needed focus on community development."

"Donors want to play a more direct and long-term role in their charitable giving and they want to make a real difference in the community," says Monica Patten, President and Chief Executive Officer, Community Foundations of Canada. "We hope this program will encourage even more Canadian philanthropists to step forward and contribute to their communities in a meaningful way."

Adds Barbara McInnes, President & CEO of the Community Foundation of Ottawa, "Through this program, BMO's clients in Ottawa will be able to make an impact on the causes they care about. We look forward to working together to ensure that their donations make a meaningful, enduring contribution to community well-being."

BMO Financial Group Chairman and CEO Tony Comper and his wife Elizabeth will create the first charitable fund under the new program.

How Does it Work?

Each gift through Supporting Your Community will continue to give year after year, because it will be part of a permanent fund, expertly invested and managed by BMO Financial Group, to protect the principal and optimize the value of the grants.

Supporting Your Community will be expanded across the country, and is initially available to any Canadian interested in giving in 28 community foundations across the country.

Community Foundations of Canada

Community Foundations of Canada (CFC) is the national membership organization for one of the country's fastest growing charitable movements. Over the past decade, the number of Canadian community foundations has more than tripled and so have their combined assets.

Today, there are more than 130 community foundations in cities, towns and rural areas across Canada. These locally-run foundations play a critical role supporting community groups. Last year, they provided more than $80 million in grants to local charitable causes.

Community Foundation of Ottawa

Among the most successful of Canada's 130 community foundations, the Community Foundation of Ottawa is an independent centre for community philanthropy, serving as a trusted resource for addressing issues and connecting donors with granting opportunities. It plays a major role in enhancing the nature and scope of philanthropy. It attracts and manages a growing endowment, the invested earnings of which provide grants that will be available forever to enhance the quality of life for all.

BMO Financial Group

BMO Financial Group is one of the largest financial services providers in North America. BMO Financial Group serves clients across Canada and in the United States through its Canadian retail arm, BMO Bank of Montreal, through its Chicago-based Harris Bank, a major U.S. mid-west financial services organization, and through BMO Nesbitt Burns, one of Canada's leading full-service investment firms.