BANK OF AMERICA

Investor Relations

Bank of America Declares Preferred Dividends

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CHARLOTTE, N.C., Jan. 3 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors has authorized dividends on preferred stock.

The first is a regular quarterly cash dividend of $0.38775 per depositary share representing the corporation's 6.204% Non-Cumulative Preferred Stock, Series D, payable March 14, 2008 to shareholders of record on February 29, 2008. The second is a regular quarterly cash dividend of $0.33342 per depositary share representing the corporation's Floating Rate Non-Cumulative Preferred Stock, Series E, payable on February 15, 2008 to shareholders of record on January 31, 2008. The third is a regular quarterly cash dividend of $0.41406 per depositary share representing the corporation's 6.625% Non- Cumulative Preferred Stock, Series I, payable April 1, 2008 to shareholders of record on March 15, 2008. The fourth is the initial cash dividend of $0.35750 per depositary share representing the corporation's 7.25% Non-Cumulative Preferred Stock, Series J, payable on February 1, 2008 to shareholders of record on January 15, 2008.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market 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 more than 57 million consumer and small business relationships with more than 5,700 retail banking offices, more than 17,000 ATMs and award-winning online banking with more than 23 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 80 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

SOURCE Bank of America

CONTACT: Investors: Kevin Stitt, +1-704-386-5667, Lee McEntire, +1-704-388-6780, Leyla Pakzad, +1-704-386-2024, or Media: Scott Silvestri, +1-980-388-9921, scott.silvestri@bankofamerica.com, all of Bank of America