BANK OF AMERICA

Investor Relations

Bank of America Directors Declare Regular Quarterly Dividend

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CHARLOTTE, N.C., Jan. 26 /PRNewswire-FirstCall/ -- The Bank of America Board of Directors today declared a regular quarterly dividend on common stock of $.45 per share, payable on March 25, 2005, to shareholders of record on March 4, 2005.

The board also declared a $1.75 regular cash dividend on the 7 percent Cumulative Redeemable Preferred Stock, Series B. The dividend is payable April 25, 2005, to shareholders of record on April 11, 2005.

The board also declared a regular quarterly dividend of $.84375 per depositary share on the corporation's 6.75% Perpetual Preferred Stock (BACPrA), payable April 15, 2005 to shareholders of record on April 1, 2005. Additionally, the board declared a regular quarterly dividend of $.825 per depositary share on the Fixed/Adjustable Rate Cumulative Preferred Stock, payable April 1, 2005 to shareholders of record on March 15, 2005.

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 33 million consumer relationships with more than 5,800 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than twelve million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 150 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 85 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 01/26/2005
CONTACT: Investors, Kevin Stitt, +1-704-386-5667, or Lee McEntire, +1-704-388-6780, or Leyla Pakzad, +1-704-386-2024, or Media, Eloise Hale, +1-704-387-0013, all of Bank of America
Web site: http://www.bankofamerica.com