BANK OF AMERICA

Investor Relations

Bank of America Declares Quarterly Dividends

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CHARLOTTE, N.C., Oct. 28 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors authorized a regular quarterly cash dividend on Bank of America common stock of $0.01 per share, payable on December 24, 2009, to shareholders of record as of December 4, 2009.

The board also declared a regular quarterly cash dividend of $1.75 on the 7 percent Cumulative Redeemable Preferred Stock, Series B. The dividend is payable on January 25, 2010 to shareholders of record as of January 11, 2010.

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 approximately 53 million consumer and small business relationships with 6,000 retail banking offices, more than 18,000 ATMs and award-winning online banking with more than 29 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.

www.bankofamerica.com

SOURCE Bank of America

Investors: Kevin Stitt, Bank of America, +1-704-386-5667, or Lee McEntire, Bank of America, +1-704-388-6780; Reporters: Jerry Dubrowski, Bank of America, +1-980-388-2840, jerome.f.dubrowski@bankofamerica.com