Bank of America World Points

"Over the last decade, Bank of America has implemented programs that have significantly reduced the environmental impact of our own operations," said Kenneth D. Lewis, Bank of America chairman and CEO. "Today, we have a tremendous opportunity to support our customer's efforts to build an environmentally sustainable economy -- through innovative home and office construction, new manufacturing technology, changes in transportation, and new ways to supply our energy."

Under its environmental initiative, Bank of America will emphasize the business opportunities created by "green" economic growth by providing critical financing to encourage the development of environmentally sustainable products and technology; accelerate the deployment of existing technology; and increase energy efficiency.

Corporate Clients

Bank of America will commit $18 billion in lending, advice and market creation to help commercial clients finance the use and production of new products, services and technologies:

* Commercial Real Estate Banking: The company will build upon its
expertise in financing environmentally friendly development by creating
customized solutions for clients who are developing and implementing
environmentally sustainable designs. Areas of focus include financing
real estate projects with LEED certification, improvements in energy
efficiency, brownfield redevelopment, promotion of smart growth, and the
use of energy-related tax credits.

* Corporate & Investment Banking: The company will focus on financing and
advisory services to clients participating in emissions offsets markets,
developing energy-efficient or low-carbon technologies and helping
private/public sector entities adopt green and low-emissions technology.

* Carbon Emissions Trading: The bank will launch the capability to trade
carbon emissions credits in order to enable clients to achieve carbon
emission neutrality through existing and emerging market mechanisms.

* Environmental Lending Consideration: The company will give favorable
consideration, among other existing underwriting criteria, to lending
opportunities with clients that are creating and implementing
environmentally sustainable products, services and technologies.

Individual Customers

Bank of America currently is developing a set of products for individuals who consider the environmental impact of their purchasing decisions and want to offset or minimize their carbon emissions. The bank will announce the launch of the following new products in the next year:

* Eco-friendly Credit Card: For every dollar spent on this new card, Bank
of America will make a contribution to an environmental organization to
invest in greenhouse gas reduction projects. These cards, available
later this year, will have environmentally friendly incentives and
features.

* WorldPoints Rewards for the Environment: Existing cardholders may
donate their WorldPoints rewards to organizations that invest in
greenhouse gas reductions or redeem them for environmentally friendly
merchandise.

* The Green Mortgage Program: Homebuyers will receive a reduced interest
rate or $1,000 back for each home-purchase mortgage meeting ENERGY STAR
specifications.

* Environmental Home Equity Program: For customers who use their home
equity line of credit's Visa Access Card, Bank of America will make an
annual donation to a non-profit organization that focuses on
environmental conservation. At launch, donations will be directed to
Conservation International for land conservation and carbon
sequestration. Additional non-profit organizations may be added to the
program over time.

* Timberland Investment Solutions: Bank of America is evaluating
proprietary investment management solutions that incorporate forest
conservation principles consistent with those defined by the Forest
Stewardship Council. Reforestation, wildlife management, responsible
development and the support of carbon sequestration ecosystems are
important attributes that will be considered. Bank of America intends
to commit its own capital to promote "green" investment solutions for
its clients.

In addition, Bank of America will further promote its existing product:
* EPA SmartWay Transport Program: Under a partnership between the
Environmental Protection Agency and the freight industry, the bank
provides Small Business Administration SBA Express loans with no
collateral and flexible terms to small and mid-sized trucking companies
to finance fuel efficient technologies. The loan program helps trucking
companies purchase SmartWay Upgrade Kits that include idle-reduction
devices, low-rolling resistance tires, aerodynamic equipment and exhaust
after-treatment devices. The kits can improve fuel efficiency by 15
percent.

Investments by Bank of America

Bank of America will also make the following investments to offset the impact its own operations and associates have on the environment:

* Committing $1.4 billion to achieve LEED certification in all new
construction of office facilities and banking centers;

* Donating $50 million from the Bank of America Charitable Foundation to
support non-profit organizations focused on forest preservation,
innovative energy conservation, developing green affordable housing and
other environmentally Progressive activities; and

* Investing $100 million in energy conservation measures for use in all
company facilities.

"We have the opportunity to do more than address our own internal business practices," said Anne Finucane, chief marketing officer and chair of the company's environmental council. "As one of the world's leading financial institutions, we can and will work directly with individual and business customers to address the pressing issue of global climate change."

"Bank of America is getting out on the front end of this issue -- developing innovative products and services that will flourish in a developing green economy while helping households, investors, and businesses cut greenhouse gases," said Eileen Claussen, president of the Pew Center on Global Climate Change.

Today's announcement by Bank of America builds upon environmental programs previously announced by the company, including:

* Expansion earlier this year of its $3,000 hybrid vehicle reimbursement
to more than 185,000 U.S.-based Bank of America associates;

* Investment of $1.5 billion to construct environmentally progressive
towers in Charlotte, N.C. and New York City;

* Aggressive, voluntary goals to reduce greenhouse gas emissions across
the company nine percent by 2009 and seven percent in our energy and
utility portfolio by 2008; and

* Active program to reduce paper usage throughout company operations; from
2000-2006, the company reduced paper usage per associate by 40 percent.