Media Advisory
U.S. Retailers Brace for the Holiday Season, says Global Foreign Exchange Strategist, BMO Capital Markets

CHICAGO, November 23, 2007 – Andrew Busch, Global Foreign Exchange Strategist, BMO Capital Markets, is available to discuss the outlook for the:

  • U.S. holiday season: Consumer Spending and Retail Sales
  • U.S. housing market, facing continued pressure
  • Factors impacting the U.S. dollar and the Canadian dollar

“There appears to be a life-and-death struggle between the immovable object of an economy that had a very strong third quarter and is now getting a boost from a weak U.S. dollar, and the irresistible force of an ongoing credit crunch and higher energy costs,” said Mr. Busch.

“The key takeaway for investors remains this: The holiday sales season is being questioned with tremendous discrepancy over outlooks among the retailers. This is generating wild swings in retails stock prices and increased risk on the downside for the entire stock market,” he said.

To arrange a broadcast or print interview today with Mr. Busch, please call (416) 867-3996.

Andrew Busch is the Global Foreign Exchange Strategist for BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (NYSE, TSX: BMO). Based in Chicago, he is a recognized expert on factors impacting foreign exchange and the world financial markets. Mr. Busch frequently appears in U.S. and Canadian media, and his views are published in his daily newsletter, The Busch Update, which can be found online at:
http://www.bmocm.com/publications/fxcom/busch/

About BMO Capital Markets
BMO Capital Markets is a leading full-service North American financial services provider, with over 2,000 employees operating in 14 North American offices and 26 worldwide, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX: BMO), one of the largest diversified financial services providers in North America with more than US$336.7 billion in total assets and 35,000 employees as at July 31, 2007. For more information, visit www.bmocm.com.

Media Relations Contact:

Kim Hanson, Toronto, kim.hanson@bmo.com, (416) 867-3996