BMO Investments Inc. has proposed changes to three of its index mutual funds that would closely tie the performance of the funds to exchange-traded funds in the same investment categories.

BMO Equity Index Fund

BMO proposes changing the investment objectives of BMO Equity Index Fund to allow the fund to provide a return that is similar to the return of one or more exchange-traded funds that invest primarily in Canadian equities. Under the change, which is subject to unitholder approval, the fund may invest all or a portion of its assets in one or more exchange-traded funds, invest directly in the underlying securities held by the exchange-traded funds, and may use derivatives to provide the fund with a return determined by reference to the exchange-traded funds.

If the change to investment objectives is approved, the investment strategies for this fund will be revised to reflect the new objectives. In addition, the fund’s name will change to “BMO Canadian Equity ETF Fund.”

BMO International Index Fund

BMO proposes changing the investment objectives of BMO International Index Fund to allow the fund to provide a return that is similar to the return of one or more exchange-traded funds that invest primarily in international equities. The fund may invest all or a portion of its assets in one or more exchange-traded funds, invest directly in the underlying securities held by the exchange-traded funds and may use derivatives to provide the fund with a return determined by reference to the exchange-traded funds.

If the change to investment objectives is approved by unitholders, the investment strategies for this fund will be revised to reflect the new objectives. In addition, the portfolio manager of the fund will change from State Street Global Advisors, Ltd. to BMO Asset Management Inc. and the fund’s name will change to “BMO International ETF Fund.”

BMO U.S. Equity Index Fund

BMO proposes changing the investment objectives of BMO U.S. Equity Index Fund to allow the fund to provide a return that is similar to the return of one or more exchange-traded funds that invest primarily in U.S. equities. The fund may invest all or a portion of its assets in one or more exchange-traded funds, invest directly in the underlying securities held by the exchange-traded funds and may use derivatives to provide the fund with a return determined by reference to the exchange-traded funds.

If the change to investment objectives is approved, the investment strategies for this fund will be revised to reflect the new objectives. In addition, the portfolio manager of the fund will change from Harris Investment Management, Inc. to BMO Asset Management Inc. and the fund’s name will change to “BMO U.S. Equity ETF Fund.”

BMO plans to hold meetings of unitholders of these funds on Sept. 10, 2010.

IE