BMO Nesbitt Burns Selects Placemark Investments to Create and Manage First International Unified Managed Account Program

Business Wire, July 5, 2005

DALLAS & WELLESLEY, Mass. -- Multicurrency and Multilingual Support Offers Canadian Clients Single Portfolio With Multiple Investment Products, Integrated Reporting and Lower Minimums

Placemark Investments, the leading overlay manager to financial services companies offering unified managed accounts (UMAs), today announced that BMO Nesbitt Burns is launching Canada's first full featured, open-architecture UMA program. The BMO Nesbitt Burns Architect Program(TM), features Placemark Investments as overlay manager and has account minimums as low as C$150,000. The Program begins today as a pilot and will be available this fall through BMO Nesbitt Burns Investment Advisors across Canada.

Placemark and BMO Nesbitt Burns have jointly implemented a robust set of multi-currency capabilities and UMA program enhancements specific to the Canadian market. The new program includes both pre-configured model portfolios based on the input of specialist teams at BMO Nesbitt Burns, as well as a full custom open-architecture offering that allows advisors to create completely custom portfolios using their preferred mix of separate account portfolios, mutual funds, ETFs and other investment products.

The BMO Nesbitt Burns Architect Program will feature other sophisticated features including sleeve-level performance reporting, multiple methods of fully automated rebalancing and automated cashflow management functions. Placemark Investments will be responsible for implementing all trades and features in the program. The Architect program will also offer advisors a variety of international features, including:

--Canadian and U.S. currency capability in each account;

--Bilingual (English and French) support for the advisor's desktop that creates client profiles, constructs portfolios and opens new accounts;

--Incorporation of Canadian, U.S. & internationally-based money managers; and

--Integrated manager portfolios composed of U.S. and Canadian currencies from securities on all U.S. and Canadian exchanges.

"Clients have told us that they want a simpler way to manage their assets," said Sarah Widmeyer, Vice-President & Managing Director, Managed Assets Group, BMO Nesbitt Burns. "Right now in this industry, you need multiple accounts and investment vehicles to get a diversified solution. Working with Placemark, our new Architect Program consolidates everything into one account with one fee and one statement."

"We're pleased to offer BMO Nesbitt Burns' clients across Canada the first UMA to feature our active overlay management service that seamlessly integrates foreign languages, currencies, managers and securities," said Lee Chertavian, CEO of Placemark Investments. "We anticipate this will be the first of many international UMAs and investment management products we will develop."

BMO Nesbitt Burns is a full-service investment and wealth management subsidiary of BMO Financial Group (NYSE, TSX: BMO), a highly diversified financial services organization with total assets of C$265 billion.

About Placemark Investments

Placemark Investments is the separate account industry's leading overlay manager for enabling Unified Managed Accounts (UMA), a fee-based investment solution that incorporates multiple investments such as managed accounts, mutual funds and ETFs into a customized portfolio. Placemark works with managed account program sponsors to develop custom UMA programs that deliver superior features and value to their advisors, while leveraging their existing operational infrastructure and preferred investment managers and products. Placemark helps create and administer UMA programs for top financial institutions including RBC Dain Rauscher, McDonald Financial Group, and Piper Jaffray. Founded in 1999, Placemark has offices in Dallas and Wellesley, Mass. For more information, please visit the company's website at www.placemark.com.

About BMO Nesbitt Burns

BMO Nesbitt Burns is BMO Financial Group's full service advisory firm and is part of BMO's Private Client Group. The Private Client Group provides integrated wealth management services in Canada and the United States and has total assets under management and administration and term investments of $290 billion as at April 30, 2005.