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BANK BUYS A PIECE OF AIR MILES COMPANY

By Adnews Staff

The Bank of Montreal has bought a 10% stake in Toronto-based Loyalty Management Group Canada. The bank is committed to being part of the Air Miles program until at least 2002. It signed up with Loyalty in 1992 as the first Canadian sponsor. "This is a strategic marketing involvement for us," says BofM senior vice-president Robert Pearce in a release. "Air miles collectors are among our most loyal customers..." Bank customers can get travel credits with an Air Miles MasterCard, a FirstBank chequing or savings account, a personal loan or a mortgage. LMGC has 60 sponsors and over 4.6 million Canadian households as subscribers.

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