News Releases

Harrisdirect Institutional Brokerage Services (IBS) selected by The City of New York Deferred Compensation Plan

JERSEY CITY, N.J., June 28, 2004 – Harris today announced Harrisdirect Institutional Brokerage Services (IBS) has been selected to provide self-directed brokerage services to The City of New York Deferred Compensation Plan in the form of a mutual fund window delivering access to over 9,500 load and no-load mutual funds. Harrisdirect IBS will also support communication efforts to plan participants and training to Deferred Compensation Plan's Customer Service. Harrisdirect was awarded the relationship following a rigorous selection process focusing on price, platform functionality, experience and quality of service.

"The combination of low price, large selection of funds, and overall ease of use were the deciding factors in the Board's selection of Harrisdirect," said Georgette Gestely, Director, Pre-Tax Benefits and City-Wide Programs.

The City of New York Deferred Compensation Plan currently has ove r 111,000 participants representing more than $5 billion in assets in its savings plan.

"This is clearly a tremendous success for all of us and a great opportunity for both organizations," said David Bernard, Managing Director and Head of Institutional Brokerage Services for Harrisdirect. "To have been selected by the City of New York is a tremendous endorsement of the quality and commitment to service we have become known for, and we look forward to a long and positive relationship."

In addition to providing self-directed brokerage accounts for defined contribution plan providers, Harrisdirect IBS delivers third-party investment restriction capability and compliance services, corporate investment program enhancements, and co-branded or private label brokerage platforms.

Harris is an integrated financial service organization providing more than 1.5 million personal, business, corporate and institutional clients with banking, lending, investing and financial management solutions. The community banking network of Harris is one of the largest in Illinois, with nearly 160 full-service locations throughout Chicagoland and more than 450 Harris ATMs. Under the Harris trademark is Harrisdirect, a leading provider of direct investing and investment advisory services to informed investors with long-term financial goals as well as third-party brokerage services to institutional clients; Harris Private Bank, a trusted advisor offering customized banking and lending, financial planning, trust and estate administration, wealth transfer and family office services; and Harris Nesbitt, a premier mid-market corporate and investment bank delivering investment and corporate banking, treasury services, market risk management, institutional investing and research. Harris is a member of BMO Financial Group (NYSE, TSX: BMO). For more information, please visit www.harrisbank.com.

Harris is a trademark used b y various financial service providers in the BMO Financial Group, a marketing name used by Bank of Montreal. Banking products and services are provided by Harris N.A. and The Harris Bank N.A. Members FDIC. Insurance and annuities are offered through Harris Bancorp Insurance Services, Inc (HBIS). Securities are provided by Harris Nesbitt Corp (HNC), a registered broker dealer, member NYSE, FINRA and SIPC and Harrisdirect LLC, a registered broker dealer, member FINRA and SIPC. HBIS, HNC and Harrisdirect are wholly owned subsidiaries of Harris Financial Corp. Products offered by HBIS, HNC and Harrisdirectare Not Insured by the FDIC or any Federal Government Agency, Not a Deposit of or Guaranteed by Any Bank or Bank Affiliate, May Lose Value. The purchase of insurance or an annuity is not a condition on any bank loan or service. Financial planning and investment advisory services are provided by Sullivan, Bruyette, Speros & Blayney, Inc., an SEC registered investment advisor. Family office services are provided by Harris myCFO, Inc. Investment advisory services are also offered by Harris myCFO Investment Advisory Services LLC, an SEC registered investment advisor and a wholly-owned subsidiary of Harris myCFO, Inc. Not all products and services are offered in every state and/or location.