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					BMO Bank of Montreal, WestJet and AIR MILES Reward Program partner for top spot in Canadian credit card rewards marketplace BMO Mosaik MasterCard cardholders can now collect reward miles faster, fly sooner and bank for free
TORONTO, April 23, 2004 – BMO Bank of Montreal and WestJet have set a new standard for customer loyalty with the launch of premier travel rewards credit card features that leverages their longstanding relationships with the AIR MILES Reward Program, the leader in the Canadian loyalty program market, and raises the stakes in their battle to secure top spot in the Canadian credit card rewards marketplace. Today at the WestJet hangar at Toronto Pearson Airport, Tony Comper, Chairman and CEO, BMO Financial Group; Clive Beddoe, Executive Chairman, President and CEO, WestJet; and John Scullion, President and CEO, The Loyalty Group, creator and manager of the AIR MILES Reward Program introduced the new Gold WestJet 1/$15 AIR MILES Reward Option from Mosaik MasterCard, which leverages the strength of BMO Bank of Montreal; the AIR MILES Reward Program, Canada’s premier coalition loyalty program; and WestJet, Canada’s national low fare airline. This dynamic and sustainable partnership makes these three participating companies the major players in Canadian credit card travel rewards. This new partnership provides BMO Mosaik MasterCard personal and small business cardholders with exclusive reward miles savings when they redeem for WestJet flights. Cardholders will also be able to take advantage of unique WestJet benefits such as earned companion flights. They can bank for free with an annual discount that can be applied to the BMO Bank of Montreal Everyday Banking Plan of their choice, and they can continue to redeem for more than 500 different rewards in the AIR MILES reward portfolio. These and other new options will be available beginning May 3, 2004. “The strength of BMO Mosaik MasterCard’s partnership with WestJet and AIR MILES allows us to offer a wider range of cardholder choices than any other travel rewards credit card on the market,” said Tony Comper, Chairman, CEO, BMO Financial Group. “For the more than 15 million Canadians who collect AIR MILES reward miles, their reward miles can take them further than ever. We look forward to working together with our partners to extend and enhance this program long into the future.” “Today we are pleased to be offering Canadians an alternative travel reward program that will provide them with a way to fly faster, sooner,” said Clive Beddoe, WestJet’s Executive Chairman, President and CEO. “The benefits of this card, together with the financial strengths of the partners involved, not only provides cardholders with tremendous options to earn and travel, but also provides them with the security of knowing that this travel reward program is reliable and here to stay. WestJet will carry over seven million guests on board our aircraft in the next year and we hope to have the majority of those guests carrying this card.”

“Canadians have strong value detectors, seeking out the highest quality products and services for the best price, as well as meaningful offers, benefits and breadth of rewards, all of which are found in the Gold WestJet 1/$15 AIR MILES Reward Option from Mosaik MasterCard,” said John Scullion, President and CEO, The Loyalty Group. “A first for the AIR MILES Reward Program, this offer also demonstrates our commitment to extending benefits for our Collectors, and underscores and entrenches our leadership in the Canadian loyalty program market.” These new features were designed to meet the demands of BMO Mosaik MasterCard’s customers for a simple and cost-effective travel option that rewards value-conscious Canadians for their day-to-day shopping activities. The new Gold WestJet 1/$15 AIR MILES Reward Option from Mosaik MasterCard gives cardholders expanded opportunities to earn AIR MILES reward miles faster, redeem flights on WestJet sooner and bank with less fees than any other travel rewards credit card in the industry. WestJet will now add its name to BMO Bank of Montreal's Mosaik MasterCard, joining the AIR MILES Reward Program. This is the most recent example of all three partners’ business strategies to develop and foster unique partnerships that provide customers with the best value, service and innovation in their respective industries. The current BMO Mosaik MasterCard AIR MILES Reward Options (Silver 1/$20 and Bronze 1/$40) will be enhanced with unique WestJet benefits including double bonus reward miles from WestJet for online W estJet flight purchases made with the card. Current cardholders with the Silver Reward Option can also earn WestJet companion flights. The new Gold WestJet AIR MILES 1/$15 Reward Option will bring BMO Mosaik MasterCard cardholders some of the best features in the industry, including: Exclusive AIR MILES savings when redeeming for WestJet flights: cardholders can fly WestJet in Canada for up to half the usual number of reward miles Redeem flights sooner: for example, only 1,400 AIR MILES reward miles are required for a flight from Halifax to Vancouver during standard travel periods, the equivalent of a maximum of $21,000 card spend (versus $25,000+ with other travel reward cards). Cardholders can fly even sooner when they collect reward miles at other AIR MILES Sponsors. No blackout periods Free banking with BMO Bank of Montreal: cardholders receive an annual discount toward a Banking Plan of their choice Free WestJet travel credit for all new cardholders equal to the annual reward option fee Earn a WestJet companion flight for each $3,000 in online WestJet flight purchases made with the card on westjet.com annually Low interest rate option (as low as 12.9% for retail purchases and 7.9% for cash advances and balance transfers)

All three partners will support the launch with a national advertising campaign. Advertising includes television, radio, print and direct mail components. BMO Mosaik MasterCard applications will also be distributed at WestJet check-in counters and on aircraft, as well as through the AIR MILES Collector Summary mailings. All three parties will also promote the WestJet AIR MILES reward options online.
About BMO Mosaik MasterCard BMO Mosaik MasterCard allows customers to build their own customized cards by choosing and paying for only the rewards, features and interest rate plan they want. Customers can also re-build their cards by changing the features as their needs change without having to replace the card or apply for a new one. Unlike other credit cards that offer a limited selection of pre-bundled options, Mosaik MasterCard lets cardholders choose from a variety of individual features such as the AIR MILES Reward Program or a CashBack Reward Program, Travel Protection, Travel Medical, Concierge Service and either a No Fee or Low Interest Rate Plan. Mosaik MasterCard card is accepted at more than 30 million locations worldwide. The Mosaik MasterCard website is bmo.com/mosaik About WestJet WestJet serves the 24 Canadian cities of Victoria, Comox, Vancouver, Abbotsford/Fraser Valley, Prince George, Kelowna, Grande Prairie, Calgary, Edmonton, Fort McMurray, Saskatoon, Regina, Winnipeg, Thunder Bay, Windsor, London, Hamilton, Toronto, Ottawa, Montréal, Moncton, Halifax, Gander and St. John’s. WestJet is publicly traded on the Toronto Stock Exchange under the symbol WJA. The WestJet website is westjet.com About the AIR MILES® Reward Program Created by The Loyalty Group in 1992, The AIR MILES® Reward Program is Canada's premier coalition loyalty program, with more than 15.4 million Canadians – representing more than 69 per cent of Canadian households – actively collecting AIR MILES® reward miles. The AIR MILES® Reward Program allows Collectors to indulge in leisure, entertainment, merchandise, travel and other lifestyle rewards quickly, simply by doing their everyday shopping for products and services at AIR MILES® Sponsors. AIR MILES® reward miles can be redeemed for more than 500 different rewards, such as movie passes, family attractions, CDs and DVDs, electronic merchandise, sports and recreation, travel and more. Collectors can shop and collect AIR MILES® reward miles at more than 100 brand-name Sponsors across the country, representing more than 14,000 retail and service locations nationally, including BMO Bank of Montreal, Shell, SportChek (Sports Experts), The Shoe Company, A&P, Sobeys, Safeway and IGA, and YourShops.ca. The AIR MILES® Reward Program's website is airmiles.ca