For Broker/Dealer use only BMO Guardian LifeStage Plus Funds 1

1 Lifecycle products are growing Financial Research Corporation (FRC) forecasts annual U.S. lifecycle fund sales at $50 billion by 2010 (26% annual growth) Lifecycle Fund Growth In Canada

2 Who are these funds designed for? Traditional savers looking to fund a specific future liability with a known time horizon who plan to remain invested in a fund for a specific period of time –For example: retirement, education (RESP), travel, etc... Risk averse investors looking for preservation of capital and principal product guarantees Late stage accumulators (mid-life investors investing to fund their retirement within a relatively limited window of opportunity)

3 Product details Five target date (lifecycle) funds with different time horizons –2017, 2022, 2025, 2026 and 2030 Asset allocation strategy automatically reduces risk approaching maturity, or as market conditions change, by shifting assets from equities to fixed income Each Fund consists of BMO Mutual Funds and/or a fixed income component Provides a Guaranteed Maturity Amount (GMA) if held to maturity 2 –GMA is the greater of issue price or the highest daily NAV reached over the life of the Fund, regardless of purchase date

4 Portfolio composition BMO Dividend Fund BMO International Equity Fund BMO U.S. Equity Fund BMO Monthly Income Fund Zero Coupon Bonds ACTIVELY MANAGED FIXED INCOME LifeStage Plus Funds provide exposure to several BMO Funds at various points during the life of the Fund:

5 Asset allocation mechanics Portfolio Value Present Value of Guaranteed Maturity Amount $ Dollar Value The distance between the portfolio value and the present value of the guarantee (floor) determines when the asset mix will be shifted. As the portfolio approaches the guarantee value the asset mix shifts to become more conservative. Time

6 Asset mixes BMO International Equity Class Initial Target Asset MixFixed Income Portfolio 50% 25% Aggressive Growth 45% 25% 15% Growth 50% 35% 7.5% Balanced 50% 25% Conservative 50% Income 100% Fixed Income BMO U.S. Equity Fund BMO Dividend Fund BMO Monthly Income Fund Fixed Income Portfolio For illustrative purposes only 50% 25% Aggressive Growth 45% 25% 15% Growth 50% 35% 7.5% Balanced 50% 25% Conservative 50% Income 100% Fixed Income Portfolio For illustrative purposes only

7 Taking advantage of current opportunities 2030 Fund NAVDiscount to GMACAGR* to GMAValue of $100,000 $ %1.85%$145,462 $ %1.58%$137,770 $ %1.34%$131,378 $ %1.07%$124,329 $ %0.83%$118,546 $ %0.61%$113,277 Consider LifeStage Plus 2030 Fund Matures in 20 years Guaranteed Maturity Amount (GMA) of $ December 31, 2009 NAV of $7.76

8 Why consider BMO Guardian LifeStage Plus Funds? Complete investment management solution Automatic asset allocation strategy helps to reduce portfolio risk as maturity approaches GMA (Guaranteed Maturity Amount) provides peace of mind for risk-averse investors if they stay invested until the fund’s target end date Daily lock-in feature ensures that no intra-month highs are missed Can be used as the core portfolio holding in a “core and explore strategy” along with tactical overlays which provide specific regional or sector exposure Competitive compensation

9 Appendix: How the GMA works

10 Disclaimer This presentation is for informational purposes only. No part of this presentation may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, recording or otherwise, without the written permission of BMO Investments Inc. (BMOII). For greater certainty, no part of this presentation may be provided to investors and/or potential investors without the written permission of BMOII. This presentation is not, and should not be construed as, investment advice. Particular investments or trading strategies should be evaluated relative to each individual. The statistics provided in this presentation are based on information believed to be reliable, but BMOII and/or Guardian Group of Funds Ltd. cannot guarantee they are accurate or complete. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund’s prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. 1 BMO Guardian LifeStage Plus Advisor Series are series of units of specific BMO LifeStage Plus Funds, which are offered by BMOII and distributed by BMOII and Guardian Group of Funds Ltd. (GGOF), both financial services firms and separate legal entities from Bank of Montreal. BMO Guardian Funds refer to certain investment funds and/or series of investments funds offered by BMOII or GGOF. 2 In order to receive the Guaranteed Maturity Amount, investors must remain invested in the series of units of the fund until the fund’s target end date. If an investor redeems his or her series of units prior to the fund’s target end date, the investor will receive only the net asset value per unit on the date of redemption, which may be less than the Guaranteed Maturity Amount. TM/® Trade-marks/registered trade-marks of Bank of Montreal, used under licence.