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Bank of Montreal Canadian DCA Callable Deposit, Series 3

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Bank of Montreal Canadian DCA Callable Deposit, Series 3 Bank of Montreal Canadian DCA Callable Deposit, Series 3 > Investment Highlights • 7 year term to maturity • 100 % Principal Protected by Bank of Montreal, as issuer, if held to maturity. • Portfolio consists of a basket of twenty (20) Canadian common equities diversified across eight (8) different sectors. • Callable by Bank of Montreal at any time prior to maturity at a 10% compounded annual rate of return calculated from the closing date to the call date. • If not called, investors are entitled to receive 100% of the percentage increase - which could be zero - from the Initial Average Portfolio Value to the Portfolio Value at Maturity. The portfolio return will not include any dividends or distributions declared on the securities. As of June 16, 2010 the average 12-month dividend yield was 4.32%. If there is no price appreciation of the underlying portfolio over the term, the variable return will be zero. • Dollar Cost Averaging Entry Point: for purposes of calculating the Variable Return, the Initial Average Portfolio Value is the value of a $100 investment in the Portfolio on the Closing Date as determined by averaging seven (7) monthly valuation dates observed during the first six (6) months, including date of closing. • The Dollar Cost Averaging feature allows the investor to lock in a potentially attractive entry point by taking advantage of the current market volatility. > Diversified Portfolio Alimentation Astral Bell Alliant Canadian Capital Power CML Healthcare Cogeco Emera Enbridge Finning Couche-Tard Media Regional Utilities Income L.P Income Fund Cable Incorporated Inc. International Inc. Inc. Communications Limited Inc. Inc. Income Fund Fortis Inc. George IGM Financial Inc. Loblaw Manitoba Metro Inc. RONA Shaw Shoppers TELUS Weston Companies Telecom inc Communications Drug Mart Corporation Limited Limited Services Inc > Dollar Cost Averaging Feature The Initial Average Portfolio Value (Dollar Cost Averaging) Feature: Market volatility has been a challenge in recent months, making it difficult to select the appropriate time to invest in the market. The Initial Average Portfolio Value feature removes part of the uncertainty of trying to time the market. Holders have the opportunity to receive a return that is based on the average portfolio value over the six months from the Closing Date. 300 Dollar Cost Averaging Entry Point: For 6 months averaging purpose of calculating the Variable Return, the 250 period Initial Average Portfolio Value is the average value of a $100 investment in the Portfolio on 200 the Closing Date and the following 6 monthly valuation dates 150 100 Portfolio Level 50 25 Closing 1 2 3 4 5 6 7 Date Months For further information, please contact your Investment Advisor > Variable Return Scenario The following examples are included for illustration purposes only. The values of the Deposit Notes used to illustrate the three different scenarios are hypothetical and are not estimates or forecasts of expected returns from the Closing Date to and including the Final Valuation Date. Each of the scenarios refers to a Holder holding a single Deposit Note and assumes that no Extraordinary Event or Market Disruption Event has occurred. 300 250 Note is called at $127.05$127.00 for a 10% 6 months averaging annual compound rate period 200 2 1 150 100 Portfolio Level 50 3 25 0 1 2 3 4 5 6 7 Years Scenario 1: Call Right Example In the scenario indicated by the number one in the above graph, the Deposit Notes are called for redemption by Bank of Montreal on a hypothetical Call Date of February 11, 2013 and the Holder receives the Deposit Amount plus the Redemption Coupon of $27.00, representing a 10% annual compounded rate of return calculated from the Closing Date to the Call Date. In this event, the Holder will not receive any return based on the price performance of the Securities. Scenario 2: Positive Return Example with no Call In the scenario indicated by the number two in the above graph, the Deposit Notes are not called for redemption by Bank of Montreal, the Portfolio has positive price performance at Maturity (compared to the Initial Average Portfolio Value) and the Holder receives the Deposit Amount at Maturity plus the Variable Return. In this example, the Initial Average Portfolio Value is $100 and the Final Portfolio Value is $170. Therefore, the Holder will receive a Variable Return of $70.00 at Maturity, being $100 × ($170 − $100) ÷ $100, which is equal to a 7.88% annual compounded rate of return. Scenario 3: No Variable Return Example In the scenario indicated by the number three in the above graph, the Deposit Notes are not called for redemption by Bank of Montreal, the Portfolio has negative price performance at Maturity (compared to the Initial Average Portfolio Value) and the Holder receives the Deposit Amount at Maturity. In this example, the Initial Average Portfolio Value is $100 and the Final Portfolio Value is $50. No Variable Return is payable at Maturity and the Holder will receive only the Deposit Amount at Maturity. > Company Description George Weston Limited: George Weston Limited processes and distributes food Alimentation Couche-Tard Inc: Alimentation Couche-Tard Inc. operates a throughout North America to grocer wholesalers, warehouses, and independent network of 24-hour convenience stores in Quebec, Ontario, and Alberta, accounts. The Company also processes and packages fish. Canada. The Company offers a variety of food and other products, fast-food services, lottery and gasoline sales, and automated banking machines. IGM Financial, Inc: IGM Financial, Inc offers a variety of personal financial planning services. The Company provides mutual funds, Guaranteed Investment Certificates, Astral Media Inc: Astral Media Inc. is a media company with operations in insurance products, and mortgage loans. IGM operates throughout Canada. Canada. The Company's core areas include English and French specialty, pay, and pay-per-view television services, as well as radio, outdoor advertising, and Loblaw Companies Limited: Loblaw Companies Limited is a retail and wholesale new media. Astral also, through a subsidiary, provides technical service for the food distributor with operations across Canada. The Company's operations include film and television industry. both company and franchisee operated stores, warehouses, and cash and carry outlets. Bell Aliant Regional Communications Income Fund: Bell Aliant Regional Communications Income Fund combines the wire line operations of Aliant within Manitoba Telecom Services Inc: Manitoba Telecom Services Inc. provides full- the company's different territories. service telecommunications in Manitoba, Canada. The Company offers local, long distance, wireless, directory, and on-line multimedia services. Canadian Utilities Limited: Canadian Utilities Limited conducts operations in Metro Inc: Metro Inc. is primarily a food distributor and retailer in Quebec, the electrical utility services, independent power production, and retail gas and Ottawa region, and the north-eastern part of Ontario, Canada. The Company electricity marketing. The Company also distributes, transmits, gathers, supplies franchised and corporate stores that carry the Metro, Super C, Loeb, and processes, and stores natural gas. In addition, Canadian Utilities provides Marche Richelieu banners, as well as restaurants, hotels, and institutions. Metro is technical logistical services and billing and call center services. also the franchisor for the Brunet and Clini-Plus drugstore chains. Capital Power Income LP: Capital Power Income LP owns electricity RONA Inc: RONA Inc. is a Canadian retailer and distributor of home improvement and gardening products. The Company operates a multi-format, multi-banner generating plants in Canada and the United States. network with locations throughout Canada. RONA addresses the needs of every consumer segment of the home improvement and gardening products industry from CML Healthcare Income Fund: CML Healthcare Income Fund is an income large metropolitan areas to small rural communities. trust that owns the existing drug development and pharmaceutical research businesses of CML Healthcare Inc. The Company provides healthcare and Shaw Communications, Inc: Shaw Communications, Inc. provides broadband diagnostic services across Canada. CML also provides pharmaceutical research cable television, Internet, and satellite television services. services throughout North America. Shoppers Drug Mart Corporation: Shoppers Drug Mart Corporation is a drugstore Cogeco Cable Inc: Cogeco Cable Inc. is a cable television operator. The retailer in Canada. The Company offers pharmacy services, health information, and Company markets basic cable television services and various discretionary beauty products. services, which include pay television, audio programming, and high-speed Internet access by cable modem. Cogeco Cable serves customers throughout Canada. Telus Corporation: Telus Corporation is a telecommunications company providing a variety of communications products and services. The Company provides voice, data, Internet, and wireless services to businesses and consumers in Canada. Emera Inc: Emera Inc. provides diversified energy and services through its subsidiaries. The Company supplies electric generation, transmission, and distribution in Nova Scotia, Canada. Emera also delivers bunker oil, diesel fuel, and light fuel. In addition, the Company delivers Sable Island natural gas to markets in Maritime Canada and the north-eastern United States Enbridge Inc:
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