FOR IMMEDIATE RELEASE
June 24, 1999

Contact:  Bob Stickler 704-386-8465

BANK OF AMERICA ANNOUNCES REDEMPTION OF SERIES BB PREFERRED STOCK

Charlotte, June 24, 1999 - Bank of America Corporation announced the
redemption of its $2.50 Cumulative Convertible Prefered Stock, Series BB,
which was initially issued by Barnett Banks, Inc. prior to its merger with
Bank of America.  The redemption date is October 1, 1999 with a redemption
price of $25 per share plus any accrued and unpaid dividends to and including
the date of redemption.

Each share of Series BB Preferred Stock is convertible by the holder
into 6.17215 shares of common stock at any time up through September 16, 1999.
Bank of America expects all shareholders to exercise their conversion rights,
which would result in the issuance of approximately 32,500 shares of common
stock.

Bank of America Corporation, with $614 billion in total assets, is parent
of 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.  Bank of America Corporation (ticker: BAC) is listed on the
New York, Pacific and London stock eschanges and certain shares are listed
on the Tokyo Stock Exchange.

www.bankofamerica.com