BANK OF AMERICA

Investor Relations

Bank of America Declares Preferred Dividends

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CHARLOTTE, N.C., April 2, 2010 /PRNewswire via COMTEX/ --Bank of America Corporation today announced the Board of Directors has authorized dividends on preferred stock.

A quarterly cash dividend of $0.38775 per depositary share on the 6.204 percent Non-Cumulative Preferred Stock, Series D, is payable on June 14, 2010 to shareholders of record as of May 28, 2010.

A quarterly cash dividend of $0.247220 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series E, is payable on May 17, 2010 to shareholders of record as of April 30, 2010.

A quarterly cash dividend of $0.5125 per depositary share on the 8.20 percent Non-Cumulative Preferred Stock, Series H, is payable on May 3, 2010 to shareholders of record as of April 15, 2010.

A quarterly cash dividend of $0.4140625 per depositary share on the 6.625 percent Non-Cumulative Preferred Stock, Series I, is payable on July 1, 2010 to shareholders of record as of June 15, 2010.

A quarterly cash dividend of $0.453125 per depositary share on the 7.25 percent Non-Cumulative Preferred Stock, Series J, is payable on May 3, 2010 to shareholders of record as of April 15, 2010.

A semi-annual cash dividend of $40.625 per depositary share on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series M, is payable May 17, 2010 to shareholders of record as of April 30, 2010.

A quarterly cash dividend of $0.185420 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 1, is payable on May 28, 2010 to shareholders of record as of May 15, 2010.

A quarterly cash dividend of $0.185420 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 2, is payable on May 28, 2010 to shareholders of record as of May 15, 2010.

A quarterly cash dividend of $0.3984375 per depositary share on the 6.375 percent Non-Cumulative Preferred Stock, Series 3, is payable on May 28, 2010 to shareholders of record as of May 15, 2010.

A quarterly cash dividend of $0.247220 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 4, is payable on May 28, 2010 to shareholders of record as of May 15, 2010.

A quarterly cash dividend of $0.247220 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 5, is payable on May 21, 2010 to shareholders of record as of May 1, 2010.

A quarterly cash dividend of $0.418750 per depositary share on the 6.70 percent Noncumulative Perpetual Preferred Stock, Series 6, is payable on June 30, 2010 to shareholders of record as of June 15, 2010.

A quarterly cash dividend of $0.390625 per depositary share on the 6.25 percent Noncumulative Perpetual Preferred Stock, Series 7, is payable on June 30, 2010 to shareholders of record as of June 15, 2010.

A quarterly cash dividend of $0.5390625 per depositary share on the 8.625 percent Non-Cumulative Preferred Stock, Series 8, is payable on May 28, 2010 to shareholders of record as of May 15, 2010.

The Merrill Lynch board of directors declared the following dividends on Merrill Lynch preferred stock:

A quarterly cash dividend of $2,250 per share on the Merrill Lynch 9 percent Mandatory Convertible Non-Cumulative Preferred Stock, Series 2, is payable on May 28, 2010 to shareholders of record as of May 15, 2010.

A quarterly cash dividend of $2,250 per share on the Merrill Lynch 9 percent Mandatory Convertible Non-Cumulative Preferred Stock, Series 3, is payable on May 28, 2010 to shareholders of record as of May 15, 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 59 million consumer and small business relationships with 6,000 retail banking offices, more than 18,000 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.

www.bankofamerica.com

Investors May Contact:
Kevin Stitt, Bank of America, 1.704.386.5667
Lee McEntire, Bank of America, 1.704.388.6780

Reporters May Contact:
Scott Silvestri, Bank of America, 1.980.388.9921
scott.silvestri@bankofamerica.com

SOURCE Bank of America Corporation