Guardian Group of Funds Ltd. has changed the distribution policy of two of its funds.

The distribution policy of both BMO Guardian Monthly High Income Fund and BMO Guardian Monthly High Income Fund II will change.

As well, the maximum annual service fee rates will change for BMO Guardian Monthly High Income Fund.

GGOF will change the current distribution from a fixed rate of 6¢ per unit per month for each of BMO Guardian Monthly High Income Fund and BMO Guardian Monthly High Income Fund II, effective January 2010.

Instead for each fund, the monthly distribution will be fixed at the beginning of each calendar year based on the market outlook. The projected distribution rates for 2010 will be 3.5¢ per unit per month for BMO Guardian Monthly High Income Fund and will remain at 6¢ per unit per month for BMO Guardian Monthly High Income II.

Also effective January 4, 2010, the maximum annual service fee rates will be increased for some classes and purchase options of BMO Guardian Monthly High Income Fund.

Along with the above changes, GGOF intends to launch T5 Class units of each fund and will change the name of BMO Guardian Monthly High Income Fund to BMO Guardian Growth & Income Fund.

IE