BANK OF AMERICA

Investor Relations

BankAmerica Corporation Declares Dividends

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CHARLOTTE, N.C., Jan. 27, 1999 -- The BankAmerica Corporation board of directors today declared a regular quarterly dividend of $.45 per share on BankAmerica common stock.

The dividend is payable March 26, 1999 to shareholders of record on March 5, 1999.

The board also declared regular quarterly dividends on two preferred stock issues. A $1.75 cash dividend was declared on the 7 percent Cumulative Redeemable Preferred Stock, Series B. The dividend is payable April 28, 1999 to shareholders of record on April 14, 1999.

A cash dividend of 62.5 cents was declared on the $2.50 Cumulative Convertible Preferred Stock, Series BB, payable on April 1, 1999 to shareholders of record on March 5, 1999.

BankAmerica Corporation, with $618 billion in total assets, is the largest bank in the United States. It has full-service operations in 21 states and the District of Columbia and provides financial products and services to 30 million households and 2 million businesses, as well as providing international corporate financial services for business transactions in 190 countries. BankAmerica Corporation stock (ticker: BAC) is listed on the New York, Pacific and London stock exchanges and certain shares are listed on the Tokyo Stock Exchange.