Bank of America

Investor Relations

Bank of America Corporation Announces New Directors

October 27, 1999 /PRNewswire/ -- Bank of America Corporation (NYSE: BAC) announced today that Kenneth D. Lewis, President, and James H. Hance, Jr., Vice Chairman, were elected as Directors of the Corporation. Additionally, Lewis was named Chief Operating Officer of the Corporation, a new position with responsibility for running the day-to-day business of the company.

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Lewis and Hance will continue to report to Hugh McColl, Chairman and Chief Executive Officer of the Corporation.

Mike Murray, Chairman of Bank of America and President of Global Corporate and Investment Banking, Bill Vandiver, Chairman of Risk Policy and Vice Chairman of Bank of America, and Lynn Drury, Corporate Affairs Executive will now report to Lewis. Chuck Cooley, Corporate Personnel Executive, Jim Kiser, Corporate Secretary, and Joe Martin, Special Counsel, will continue to report to McColl. These appointments are effective immediately.

Lewis, 52, joined the bank in 1969 as a credit analyst in Charlotte and has served in a variety of roles since then, including president of both the Florida and Texas banks, manager of international banking, head of the bank's former U.S. department and middle market group executive. He was president of predecessor NationsBank Corporation and president of General Banking. He was named president of Bank of America Corporation in January 1999.

Hance, 55, joined the company in 1987. Prior to that, he spent 17 years with the Price Waterhouse accounting firm in Philadelphia and Charlotte, including six years as a partner in the Charlotte office and serving as audit partner responsible for the firm's relationship with NCNB Corporation (predecessor to NationsBank and Bank of America.) From August 1985 until December 1986, he was chairman and co-owner of Consolidated Coin Caterers Corp. in Charlotte.

"Both of these executives are outstanding businessmen and have played integral roles in the creation of the Bank of America," McColl said. "Their vision, leadership and commitment to our company throughout their careers have been outstanding. Their understanding of the scale and complexity of our business is extremely deep and their ability to help guide the company going forward is key to our success. I am very pleased about their election to the board and look forward to the valuable contributions both will continue to make in the years to come."

Bank of America, with $621 billion in assets, is the largest bank in the United States. The company serves more than 30 million households and 2 million businesses across the country, offering customers the largest and most convenient delivery network from offices and ATMs to telephone and internet access. It also provides comprehensive international corporate financial services for clients doing business around the world. The company creates financial relationships featuring a full array of financial services, from traditional banking products to investments and capital raising within the securities markets. Bank of America stock (ticker: BAC) is listed on the New York, Pacific and London stock exchanges and certain shares are listed on the Tokyo Stock Exchange. Further investor information can be found at .

SOURCE Bank of America Corporation

Bank of America

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