Bank of America

Investor Relations

Bank of America Declares Quarterly Dividend

CHARLOTTE, N.C., Oct. 27 /PRNewswire/ -- The Bank of America Board of Directors today declared a regular quarterly dividend on common stock of $.45 per share, payable on December 22, 2004, to shareholders of record on December 3, 2004.

The board also declared a $1.75 regular cash dividend on the 7 percent Cumulative Redeemable Preferred Stock, Series B. The dividend is payable January 25, 2005, to shareholders of record on January 11, 2005.

The board also declared a regular quarterly dividend of $.84375 per depositary share on the corporation's 6.75% Perpetual Preferred Stock (BACPrA), payable January 14, 2005 to shareholders of record on December 31, 2004. Additionally, the board declared a regular quarterly dividend of $.825 per depositary share on the Fixed/Adjustable Rate Cumulative Preferred Stock, payable January 3, 2005 to shareholders of record on December 15, 2004

Bank of America is one of the world's largest financial institutions, serving individual consumers, small businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving 33 million consumer relationships with 5,800 retail banking offices, more than 16,500 ATMs and award-winning online banking with more than eleven million active users. Bank of America is the No. 1 Small Business Administration Lender in the United States by the SBA. The company serves clients in 150 countries and has relationships with 96 percent of the U.S. Fortune 500 companies and 82 percent of the Global Fortune 500. Bank of America Corporation stock (ticker: BAC) is listed on the New York Stock Exchange.

SOURCE Bank of America
10/27/2004

CONTACT: Investors, Kevin Stitt, +1-704-386-5667, or Lee McEntire, +1-704-388-6780, or Leyla Pakzad, +1-704-386-2024, or Media, Eloise Hale, +1-704-387-0013, all of Bank of America
Web site: http://www.bankofamerica.com

Bank of America

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