BANK OF AMERICA

Investor Relations

Peter Ueberroth Named to Bank of America Board

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CHARLOTTE, N.C., June 27 /PRNewswire/ -- Peter V. Ueberroth was appointed as director to the Bank of America Corporation (NYSE: BAC) board of directors, effective immediately. Ueberroth, 64, is the managing director of Contrarian Group, Inc., an investment and management company in Southern California.

Kenneth D. Lewis, CEO and chairman of Bank of America, applauded the diverse experience Ueberroth has had throughout his business career and noted his entrepreneurial spirit. "Peter has been successful at everything he's ever done," Lewis said. "He epitomizes the word executive, having accomplished so much in so many different areas of business."

Ueberroth, who resides with his family in Laguna Beach, Calif., served as the Commissioner of Major League Baseball from 1984-89. He is also the chairman of the board of Ambassadors International and a member of the board of directors for the Coca-Cola Company, as well as Hilton Hotels Corporation. He successfully orchestrated the purchase of the Pebble Beach Company and now serves as owner and co-chairman of the company.

In the early 1980s, Ueberroth served as president of the Los Angeles Olympic Organizing Committee. Under his leadership, the first privately financed Olympic Games resulted in a surplus of $222 million that continues to support youth and sports programs throughout the United States.

"Peter is a winner in every sense of the word," Lewis continued, "and we look forward to leveraging his experience and worldwide network as we move our brand toward world-class status."

A native of Evanston, Illinois, Ueberroth earned a business degree from San Jose State University. Upon graduation, he began a career in the travel industry, selling his company in 1980. At the time, it was the second largest travel business in North America with more than 300 wholly owned retail travel agencies.

With today's addition of Ueberroth, the Bank of America board totals 18 members.

SOURCE Bank of America Corporation

CONTACT: media, Mary Waller of Bank of America, 704-386-5469, or e-mail, mary.m.waller@bankofamerica.com/