Bank of America Extends Nearly $184 Billion in Credit in Third Quarter

Nearly $760 Billion in Credit Extended Since TARP Investment Began

CHARLOTTE, N.C., Nov. 9 /PRNewswire/ -- Today, Bank of America issued its
third quarterly Lending & Investing Initiative report, which outlines the
company's progress in driving economic recovery through 10 key areas,
including lending to consumers and businesses of all sizes, support for
municipalities and nonprofits, community development and other initiatives.

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The report, which delivers on a commitment to provide greater transparency
into the company's lending and investing efforts across the enterprise,
demonstrates how Bank of America is using the government's investment in the
company to support the U.S. economy.

Bank of America has extended $759 billion in new credit since the program was
created in the fourth quarter of 2008. That represents almost $17 for every
dollar of the $45 billion of the Troubled Asset Relief Program (TARP)
investment. At the same time, Bank of America continues to provide a
significant return on investment to U.S. taxpayers. Through November 16, Bank
of America will have made more than $2.5 billion in dividend payments to the
U.S. Treasury.

The extension of home loans continues to be one of Bank of America's highest
lending and investing priorities. In the third quarter alone, the company
extended $96 billion in first mortgages, helping nearly 450,000 people
purchase a home or refinance an existing mortgage. In the first nine months of
the year, the bank has extended $292 billion in first mortgages to more than
1.3 million customers.

Bank of America is also responding to consumers' needs for simpler, clearer
products and pricing through efforts including the Home Loans Clarity
Commitment and new Basic Visa Card(®). Additionally, the company created the
new role of consumer policy executive - a position held by Andrew Plepler - to
ensure it is directly addressing the needs and concerns of customers and
communities and build on efforts within each of line of business.

"As households and communities across America continue to feel financial
strain, we are working hard to revitalize the U.S. economy by making every
good loan that we can to individuals, businesses of all sizes, and
municipalities and nonprofits across the country," said Plepler. "We are
hopeful that our ongoing efforts will not only improve economies across
America, but also provide consumers the relief they need during these
difficult times."

In addition to consumer lending, Bank of America is extending credit to the
municipalities and nonprofits that are currently struggling to keep pace with
local needs and serve communities across the country, including $7 billion in
credit extended in the third quarter and $26 billion in 2009. This includes
credit and services provided to more than 7,500 governmental entities -
including local and state agencies - and more than 1,400 large nonprofit
clients across the country through our Specialized Industries group.

In the business sector, Bank of America has extended $78 billion in small
business and commercial loans in the third quarter, and $255 billion during
the first nine months of 2009.

The full report, which provides detailed summaries of Bank of America's
progress in these growth sectors and other areas, can be accessed at
newsroom.bankofamerica.com.

Bank of America
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 approximately 53
million consumer and small business relationships with 6,000 retail banking
offices, more than 18,000 ATMs and award-winning online banking with more than
29 million active users. Bank of America is among the world's leading wealth
management companies and is a global leader in corporate and investment
banking and trading across a broad range of asset classes serving
corporations, governments, institutions and individuals around the world. Bank
of America offers industry-leading support to more than 4 million small
business owners through a suite of innovative, easy-to-use online products and
services. The company serves clients in more than 150 countries. Bank of
America Corporation stock (NYSE: BAC) is a component of the Dow Jones
Industrial Average and is listed on the New York Stock Exchange.

www.bankofamerica.com

SOURCE Bank of America

Ernesto Anguilla, +1-617-434-7308, ernesto.anguilla@bankofamerica.com, or
Colleen Haggerty, +1-213-621-7414, colleen.haggerty@bankofamerica.com, both of
Bank of America