SECURITY DESCRIPTION:  Bank of America, 7.25% Non-Cumulative Convertible Preferred Stock, Series L, liquidation preference $1000 per share, and with no stated maturity. Non-cumulative distributions of 7.25% ($72.50) per annum are paid quarterly on 1/30, 4/30, 7/30 & 10/30 to holders of record on the first day of the month in which the payment is due (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by the preferred are eligible for the 15% tax rate on dividends under normal holding restrictions and are also eligible for the dividends received deduction for corporate holders (see page S-40 of the prospectus for further information). The preferred shares are convertible any time at the holder's option into 20 common shares of Bank of America Corp. (NYSE: BAC), an initial conversion price of $50 per common share (a 25% premium from the initial price). On or after 1/30/2013, if the price of the common stock exceeds 130% of the conversion price for 20 of any 30 consecutive trading days, the company may, at their option, force the preferred shares to be converted into common shares at the then prevailing conversion price. In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the convertible preferred stock and the conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Conv Shrs Conv Price	Distribution Dates	15% Tax Rate
NYSE Chart	7.25% $72.5	$1,000.00 $1,000.00	1/30/2013 None	B3 / B 10/04/09	20 $50.00	1/30, 4/30, 7/30 & 10/30 Click for MW ExDiv Date Click for Yahoo ExDiv Date	Yes

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HOME PAGE:     http://www.bankofamerica.com/
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Email Address	pamela.black@bankofamerica.com
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Address and Phone Numbers

Address:   100 N. Tryon Street, Charlotte, NC 28255
Main Phone Number	704-386-5681
Fax Number	704-386-6699
Investor Contact   Kevin Stitt	704-386-5667
Toll Free Phone Number	800-299-2265

CEO - Kenneth D. Lewis

CFO - Joe L. Price