BANK OF AMERICA

Investor Relations

Bank of America Declares Preferred Dividends

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CHARLOTTE, N.C., Oct 04, 2010 (BUSINESS WIRE) -- 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 December 14, 2010 to shareholders of record as of November 30, 2010.

A quarterly cash dividend of $0.255560 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series E, is payable on November 15, 2010 to shareholders of record as of October 29, 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 November 1, 2010 to shareholders of record as of October 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 December 31, 2010 to shareholders of record as of December 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 November 1, 2010 to shareholders of record as of October 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 November 15, 2010 to shareholders of record as of October 31, 2010.

A quarterly cash dividend of $0.191670 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 1, is payable on November 29, 2010 to shareholders of record as of November 15, 2010.

A quarterly cash dividend of $0.191670 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 2, is payable on November 29, 2010 to shareholders of record as of November 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 November 29, 2010 to shareholders of record as of November 15, 2010.

A quarterly cash dividend of $0.255560 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 4, is payable on November 29, 2010 to shareholders of record as of November 15, 2010.

A quarterly cash dividend of $0.255560 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 5, is payable on November 22, 2010 to shareholders of record as of November 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 December 30, 2010 to shareholders of record as of December 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 December 30, 2010 to shareholders of record as of December 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 November 29, 2010 to shareholders of record as of November 15, 2010.

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

A cash dividend of $1,150 per share on the Merrill Lynch 9 percent Mandatory Convertible Non-Cumulative Preferred Stock, Series 2, is payable on October 15, 2010 to shareholders of record as of October 5, 2010.

A cash dividend of $1,150 per share on the Merrill Lynch 9 percent Mandatory Convertible Non-Cumulative Preferred Stock, Series 3, is payable on October 15, 2010 to shareholders of record as of October 5, 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 57 million consumer and small business relationships with 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with 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 approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 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 Corporation

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