Important announcement regarding BMO Asset Management

As you may be aware, on April 12th BMO announced that it has reached an agreement to sell its asset management business in Europe, the Middle East and Africa which will, subject to completion, become part of Columbia Threadneedle Investments, the global asset management business of Ameriprise Financial, Inc. Details have not yet been finalised and published but both companies have confirmed the importance of maintaining the stability and continuity of the teams which presently support your Company.

Your Board welcomes that assurance of stability and continuity and remains focused as always on ensuring the delivery of the highest levels of performance and standards of service for our shareholders as the new relationship develops. We shall ensure that you are kept informed of developments.

Chairman, Jonathan Cartwright