BMO LifeStage Retirement Income Portfolios

BMO LifeStage Retirement Income Portfolios are notes that help meet the needs of investors either planning for retirement or already retired by providing principal protection through guaranteed capital distributions and exposure to the growth potential of mutual funds.

BMO LifeStage Retirement Income Portfolios provide:

Guaranteed, Predictable Cash Flow - Annual capital distributions of 6% (payable monthly) for up to 15 years* Inflation protection - Through annual inflation adjustments to annual capital distributions** Tax Efficient Structure - Pay no tax until the product matures or is sold Lifecycle Asset Allocation - systematic annual rebalancing to a progressively more conservative risk profile Exposure to the growth potential of mutual funds

Current Pay	Deferred 5 Year	Deferred 10 Year
For investors in retirement or about to begin retirement who are seeking a guaranteed source of tax-efficient cash flow and the potential for growth. Target Asset Allocation	For investors preparing for retirement who are seeking to protect and potentially grow their capital and receive tax-efficient guaranteed cash flow in retirement. Target Asset Allocation	For investors preparing for retirement who are seeking to protect and potentially grow their capital and receive tax-efficient guaranteed cash flow in retirement. Target Asset Allocation
Guaranteed Capital Distributions
Annual capital distributions of 6% indexed to inflation, guaranteed until principal is repaid* Annual inflation adjustment Capital distributions start in year one	Annual capital distributions of 6% indexed to inflation, guaranteed until principal is repaid* Annual inflation adjustment during both the deferred and distribution periods Capital distributions start in year six	Annual capital distributions of 6% indexed to inflation, guaranteed until principal is repaid* Annual inflation adjustment during both the deferred and distribution periods Capital distributions start in year eleven

Information Statement Supplements to Information Statement * Capital distributions are repayments of principal that will reduce the adjusted cost base of your investment in the LifeStage Notes (defined below). Capital distributions will only continue until $99 of the principal amount of the $100 LifeStage Note has been repaid to the holder, after which no further capital distributions will be made on the LifeStage Notes. ** As long as a Capital Preservation Event or Extraordinary Event has not occurred. These Deposit Notes do not represent deposits insured under the Canadian Deposit Insurance Corporation Act. Capitalized terms used and not otherwise defined herein have the meanings given to them in the Master Information Statement dated February 4, 2008. Investors should consult their own tax advisors regarding possible tax consequences of an investment in the LifeStage Notes (defined below). Investments in the BMO LifeStage Retirement Income Portfolios are not mutual fund investments. They are investments in principal protected deposit notes (the LifeStage Notes) issued by Bank of Montreal and will constitute direct, unsecured and unsubordinated debt obligations of Bank of Montreal. Details regarding the calculations and payments of interest, the LifeStage Retirement Income Portfolio, capital distributions and certain risk factors will be contained in the Master Information Statement and Supplement which will be available through your branch investment professional or on our public website at www.bmo.com/mutualfunds. This summary is issued for information purposes only to provide an overview of the LifeStage Notes and does not constitute investment advice or an offer to sell or a solicitation to purchase. An investment in LifeStage Notes is subject to certain risks, which investors should consider. Investors should read the related Master Information Statement and Supplement carefully before investing and discuss their suitability with their branch investment professional. The LifeStage Notes may not be suitable for all types of investors; the prices and value of the LifeStage Notes may fluctuate and/or be adversely affected by a number of factors. The fluctuation of the value of the LifeStage Retirement Income Portfolio will directly impact the return, if any, on the LifeStage Notes. At maturity, the return, if any, will be equal to the amount by which the Deposit Value exceeds the Deposit Balance when the LifeStage Retirement Income Note matures. If the Deposit Value is equal to or less than the Deposit Balance then you will not receive any return on your LifeStage Retirement Income Notes. It is possible that no return will be paid on the LifeStage Notes. Neither Bank of Montreal nor any of its subsidiaries and affiliates (collectively, BMO) make any assurances, representations or warranties with respect to accuracy, reliability or completeness of information contained herein. Furthermore, BMO makes no recommendation concerning the LifeStage Notes or the suitability of investing in securities generally or the LifeStage Notes in particular. No person has been authorized to give any information or to make any representation not contained in the Master Information Statement and Supplement relating to the LifeStage Notes and BMO does not accept responsibility for any information not contained in the Master Information Statement and Supplement.