BANK OF AMERICA

Investor Relations

Bank of America Declares Quarterly Dividend

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CHARLOTTE, N.C., Jan. 23 /PRNewswire/ -- Bank of America Corporation today announced its Board of Directors approved a regular quarterly dividend on common stock of $0.64 per share payable on March 28, 2008 to shareholders of record as of March 7, 2008.

The board also declared a $1.75 regular quarterly cash dividend on the 7 percent Cumulative Redeemable Preferred Stock, Series B. The dividend is payable April 25, 2008 to shareholders of record as of April 11, 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 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 19,000 ATMs and award-winning online banking with nearly 24 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.

www.bankofamerica.com

SOURCE Bank of America

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