BANK OF AMERICA

Investor Relations

Bank of America Declares Quarterly Dividends

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CHARLOTTE, N.C., Apr 2, 2004 /PRNewswire via COMTEX/ -- The Bank of America Board of Directors today declared a regular quarterly dividend on common stock of $.80 per share, payable June 25, 2004, to shareholders of record on June 4, 2004.

The board also declared a $1.75 regular cash dividend on the 7 percent Cumulative Redeemable Preferred Stock, Series B. The dividend is payable July 23, 2004, to shareholders of record on July 9, 2004.

In conjunction with its April 1 merger with FleetBoston Financial, Bank of America has issued two new series of preferred shares, 6.75% Perpetual Preferred Stock and Fixed/Adjustable Rate Cumulative Preferred Stock. The Board declared a regular quarterly dividend of $.84375 per depositary share on the corporation's 6.75% Perpetual Preferred Stock (BACPrA), payable July 15, 2004 to shareholders of record on July 1, 2004. Additionally, the Board declared a regular quarterly dividend of $.825 per depositary share on the Fixed/Adjustable Rate Cumulative Preferred Stock, payable July 1, 2004 to shareholders of record on June 15, 2004.

Bank of America is one of the world's largest financial institutions, serving individual consumers, small 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 33 million consumer relationships with 5,700 retail banking offices, 16,500 ATMs and an award-winning online banking with more than nine million active users. Bank of America is rated the No. 1 Small Business Administration Lender in the United States by the SBA. The company serves clients in 150 countries and has relationships with 96 percent of the U.S. Fortune 500 companies and 82 percent of the Global Fortune 500. Bank of America Corporation stock (ticker: BAC) is listed on the New York Stock Exchange.

SOURCE Bank of America

Investors, Kevin Stitt, +1-704-386-5667, or Lee McEntire, +1-704-388-6780, or Media, Terry Francisco, +1-704-386-4343, all of Bank of America

http://www.bankofamerica.com