BANK OF AMERICA

Investor Relations

Bank of America Declares Quarterly Dividend on Series L Preferred Stock

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CHARLOTTE, N.C., June 19 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors authorized a regular quarterly dividend of $18.1250 per share on the 7.25 percent Non-Cumulative Perpetual Convertible Preferred Stock, Series L. The dividend is payable on July 30, 2009 to shareholders of record as of July 1, 2009.

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 approximately 55 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 nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. 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. 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.

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SOURCE Bank of America Corporation

CONTACT: Investors May Contact: Kevin Stitt, +1-704-386-5667, Lee McEntire, +1-704-388-6780, Grace Yoon, +1-212-449-7323; Reporters May Contact: Scott Silvestri, Bank of America, +1-980-388-9921, scott.silvestri@bankofamerica.com, all of Bank of America