Following Enron Corp.’s recent Chapter 11 U.S. bankruptcy court filing, Bank of Montreal today indicated that its aggregate senior unsecured direct credit exposure to Enron is US$28 million.

Indirect senior exposure to Enron-related entities in various natural resource projects totals US $75 million, of which US $49 million is secured.

The bank says the aggregate potential loss associated with these exposures is not considered material and does not impact the bank’s loan loss target for 2002.