Bank of America Charitable Foundation Launches Fifth Year of Neighborhood Excellence...

Bank of America Charitable Foundation Launches Fifth Year of Neighborhood
Excellence Initiative(TM)

Total Program Commitment Exceeds $90 Million

WHAT: The Bank of America Charitable Foundation today announced the fifth
year of the Neighborhood Excellence Initiative, its signature
philanthropic program. This year, the Neighborhood Excellence
Initiative (NEI) will be expanded to Detroit, Michigan, bringing
the program's reach to 45 communities including London, England.

Over five years, the Bank of America Charitable Foundation has
committed over $90 million globally to the NEI program and will
give over $20 million in 2008 alone.

The Bank of America Charitable Foundation is currently accepting
nominations for the awards at
www.bankofamerica.com/neighborhoodexcellence.

WHO: NEI recognizes organizations, individuals, and students who have
shown a commitment to improving their communities through three key
programs:

-- Neighborhood Builders(TM): Two local nonprofit organizations in
each participating region will be awarded for their commitment
to improving and revitalizing their communities. Each will
receive $200,000 in unrestricted funding. In addition, the bank
provides an innovative leadership development program to leaders
of these organizations.

-- Local Heroes(TM): Five individuals in each market who have shown
strong dedication to improving their communities through
community service will be recognized. Each will be able to
direct a $5,000 contribution from Bank of America to an eligible
nonprofit of their choice.

-- Student Leaders(TM): Five exemplary high school students who
have demonstrated a commitment to community service and
leadership will be recognized in each market. Each will be
awarded a trip to Washington, D.C. to engage in leadership
training, as part of a paid eight-week summer internship with a
community-based organization.

Award recipients are chosen by a local selection committee comprised of
private, public and nonprofit sector leaders and chaired by the bank's local
presidents in the 45 Neighborhood Excellence Initiative communities.
CALL FOR ENTRIES: Bank of America invites nonprofit organizations and
individuals who have shown an active interest in improving their community to
submit a nomination.
-- Submissions for Student Leaders are due NO LATER THAN February 29,
2008.

-- Submissions for Neighborhood Builders and Local Heroes are due NO LATER
THAN June 27, 2008.

Please visit www.bankofamerica.com/neighborhoodexcellence for details and
to apply online.
Bank of America Corporate Philanthropy
Building on a long-standing tradition of investing in the communities it
serves, Bank of America is in its fourth year of achieving an unprecedented
10-year goal to donate $1.5 billion to nonprofit organizations engaged in
improving the health and vitality of their neighborhoods. Funded by Bank of
America, the Bank of America Charitable Foundation will give more than $225
million in 2008, making the bank the most generous financial institution in
the world and the second largest donor of all U.S. corporations in cash
contributions. Bank of America approaches giving through a national strategy
called "neighborhood excellence" under which it works with local leaders to
identify and meet the most pressing needs of individual communities. Through
Team Bank of America, bank associate volunteers contributed more than 650,000
hours in 2007 to enhance the quality of life in their communities nationwide.
For more information about Bank of America Corporate Philanthropy, please
visit www.bankofamerica.com/foundation.

Applicants in the following markets are encouraged to apply as early as
possible:

-- Atlanta, Georgia -- Los Angeles, California
-- Austin, Texas -- Miami, Florida
-- Baltimore, Maryland -- Nashville, Tennessee
-- Boston, Massachusetts -- Newark, New Jersey
-- Broward County, Florida -- New York, New York
-- Charlotte, North Carolina -- Orange County, California
-- Chicago, Illinois -- Orlando, Florida
-- Dallas, Texas -- Palm Beach County, Florida
-- Detroit, Michigan -- Philadelphia, Pennsylvania
-- Kent, New Castle & Sussex -- Phoenix, Arizona
Counties, Delaware -- Pinellas County, Florida
-- Metropolitan Washington, DC -- Portland, Oregon
-- East Bay/Oakland, California -- Providence, Rhode Island
-- Ft. Worth, Texas -- Richmond, Virginia
-- Hampton Roads, Virginia -- Sacramento, California
-- Hartford, Connecticut -- San Antonio, Texas
-- Houston, Texas -- San Diego, California
-- Inland Empire, California -- San Francisco, California
-- Jacksonville, Florida -- Santa Clara County, California
-- Kansas City, Missouri -- Seattle, Washington
-- Las Vegas, Nevada -- St. Louis, Missouri
-- London, England -- Stamford/Bridgeport/Norwalk,
-- Long Island, New York Connecticut
-- Tampa, Florida

(Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b )

Reporters May Contact:
Nicole Nastacie, Bank of America, 980-388-7252
nicole.nastacie@bankofamerica.com

SOURCE Bank of America