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Brazil bank to be sold to Harris

Wednesday, September 27, 2006

CHICAGO, Sept. 27 /PRNewswire/ -- Harris today announced a definitive

agreement to purchase central Indiana-based First National Bank & Trust for

$290 million, furthering the personal and commercial banking presence for

one of Chicago's largest financial institutions outside its traditional


First National Bank & Trust is a 32-branch community bank with

locations in Indianapolis and the surrounding communities of Kokomo and

Terre Haute, including Brazil. With $1.3 billion in assets, $920 million in deposits and $500

million in trust assets, First National Bank & Trust offers a range of

retail and commercial banking products, as well as trust, investment and

insurance services.

"This is truly a milestone event for Harris as we move toward our goal

of being the leading personal and commercial community bank in the

Midwest," said Ellen Costello, Chief Executive Officer, Harris. "We are

pleased to bring our customer-focused, community-based approach to the

First National Bank & Trust customers. Indianapolis is the second-fastest

growing market in the U.S. Midwest and, with a population of about 1.7

million, it presents wonderful opportunities as we pursue our goal of

doubling in size in the next five years.

"In particular, Indianapolis is an attractive market for our small- and

mid-market business banking capabilities. We have a long history of serving

these customers and we believe, the market will be very receptive to the

experience and expertise we offer," Costello added.

The acquisition is anticipated to be completed in January 2007, subject

to approvals from U.S. and Canadian regulators. Excluding one-time items,

the transaction will be modestly accretive to cash earnings per share of

Harris parent company, BMO Financial Group (NYSE: BMO ; TSX), in year one.

The purchase price of US$290 million represents a multiple of 2.2 times the

book value of First National Bank & Trust.

"We're really pleased to be partnering with Harris, and we see this

relationship as a very good fit. We have been impressed with the commitment

to employees, exceptional customer service and community involvement that

are hallmarks of the Harris organization," said John O'Donnell, President

of First National Bank & Trust.

Harris N.A. has more than 200 locations and nearly 550 Harris-branded

ATMs across Chicago, its suburbs and northwest Indiana. When the

acquisition closes, Harris will have 233 branches and will be closer to its

goal of 350 to 400 locations across the Midwest. With $38.3 billion in

assets and $26.2 billion in deposits, Harris is the second-largest bank

based on branches in the Chicago market. Additionally, Harris has

affiliated wealth management offices in Arizona, California, Florida,

Georgia, Virginia and Washington.

About Harris

Harris is an integrated financial service organization providing more

than 1 million personal, business and corporate clients with banking,

lending, investing and wealth management solutions. The organization is a

member of the BMO Financial Group (NYSE: BMO ; TSX), which also provides

corporate and investment banking services in the U.S. under the BMO Capital

Markets name.

Harris(TM) is a trade name used by various financial service

subsidiaries of Harris Financial Corp. Banking products and services are

provided by Harris N.A., The Harris Bank, N.A. and their bank affiliates.

Members FDIC.

Brokerage products are offered through Harris Investor Services, Inc.

(HIS), a registered broker/dealer, member NASD/SIPC, and SEC registered

investment adviser. Insurance and annuities are offered through Harris

Bancorp Insurance Services, Inc. (HBIS). Securities are provided by BMO

Capital Markets Corp. (BMOCM), a registered broker dealer and member NYSE,

NASD and SIPC. HIS, HBIS and BMOCM are affiliated companies and are wholly

owned subsidiaries of Harris Financial Corp. Products offered by HIS, HBIS

and BMOCM are Not Insured by the FDIC or any Federal Government Agency, Not

a Deposit of or Guaranteed by Any Bank or Bank Affiliate, May Lose Value.

The purchase of insurance or an annuity is not a condition to any bank loan

or service. Financial planning and investment advisory services are

provided by Sullivan, Bruyette, Speros & Blayney, Inc., an SEC registered

investment adviser. Family Office Services are provided by Harris myCFO,

Inc. Investment advisory services are offered by Harris myCFO Investment

Advisory Services LLC, an SEC registered investment adviser and

wholly-owned subsidiary of Harris myCFO, Inc. Not all products and services

are offered in every state and/or location.

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