BANK OF AMERICA

Investor Relations

Bank of America Declares Preferred Dividends

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CHARLOTTE, N.C., Oct. 2 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors has authorized dividends on preferred stock.

A regular quarterly cash dividend of $0.38775 per depositary share on the 6.204 percent Non-Cumulative Preferred Stock, Series D, is payable on December 15, 2008 to shareholders of record as of November 28, 2008. A regular quarterly cash dividend of $0.25278 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series E, is payable on November 17, 2008 to shareholders of record as of October 31, 2008. A regular quarterly cash dividend of $0.51250 per depositary share on the 8.20 percent Non-Cumulative Preferred Stock, Series H, is payable on November 3, 2008 to shareholders of record as of October 15, 2008. A regular quarterly cash dividend of $0.4140625 per depositary share on the 6.625 percent Non-Cumulative Preferred Stock, Series I, is payable on December 31, 2008 to shareholders of record as of December 15, 2008. A regular quarterly cash dividend of $0.453125 per depositary share on the 7.25 percent Non-Cumulative Preferred Stock, Series J, is payable on November 3, 2008 to shareholders of record as of October 15, 2008. The initial semi-annual cash dividend of $44.0104 per depositary share on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series M, is payable November 17, 2008 to shareholders of record as of October 31, 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, more than 18,500 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

http://www.bankofamerica.com

SOURCE Bank of America