News Releases

Harris Nesbitt Hires Oil & Gas Equity Research Analyst to Energy & Power Team

NEW YORK, July 12, 2004 – Harris Nesbitt, the U.S. investment banking arm of BMO Financial Group, announced today the hiring of Raymond Deacon to its Equity Research team as a senior research analyst covering the Exploration and Production sector. Mr. Deacon becomes a Managing Director and will be based in the firm’s office in Denver.

“The Oil and Gas sector represents an important area of focus for our clients and we are excited to have Ray join us to help build out our expertise in Energy & Power,” said Jack Blackstock, Director of Research, Harris Nesbitt. “Ray’s solid experience and industry knowledge will further strengthen our research offering, as we continue to broaden our industry coverage.”

Mr. Deacon joins Harris Nesbitt from First Albany where he was a Principal and Senior Analyst covering the E&P sector. He held the same titles at RBC Dain Rauscher, where he worked previously, responsible for the oil and gas producer group. Earlier analyst positions include Standard & Poor’s, where he was Head of the Oil & Gas team. A CFA, Mr. Deacon earned an MBA from NYU’s Stern School of Business, an MA from Columbia University and a BA from Colgate University.

Harris Nesbitt Equity Research covers more than 225 companies in sectors that include Business Services, Consumer & Leisure, Healthcare, Media & Entertainment and Technology. A complete list of the firm’s equity analyst team and the coverage universe can be viewed at: http://corporate.bmo.com/research/equities/default.asp?hnnav=1

Contacts:
Kevin Windorf, New York, (212) 885-4111
Kim Hanson, Toronto, (416) 867-3996

About Harris Nesbitt
Harris Nesbitt is an investment and corporate bank offering clients access to a full range of products and services including investment and corporate banking, treasury services, market risk management, institutional investing and research. Headquartered in Chicago, Harris Nesbitt is part of Harris, 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. Harris is a member of BMO Financial Group (NYSE, TSX: BMO). For more information, please visit www.harrisnesbitt.com.

Harris is a trademark used by 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.