BANK OF AMERICA

Investor Relations

Bank of America Declares Quarterly Dividends

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CHARLOTTE, N.C., April 27, 2005 /PRNewswire via COMTEX/ -- The Bank of America Board of Directors today declared a regular quarterly dividend on common stock of $0.45 per share, payable on June 24, 2005, to shareholders of record on June 3, 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 July 25, 2005, to shareholders of record on July 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 July 15, 2005 to shareholders of record on July 1, 2005. Additionally, the board declared a regular quarterly dividend of $.825 per depositary share on the Fixed/Adjustable Rate Cumulative Preferred Stock, payable July 1, 2005 to shareholders of record on June 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 13 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 (NYSE: 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

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