Ken Lewis Announces John Thain Role With Bank of America

Charlotte, North Carolina (ots/PRNewswire) -

Bank of America Chairman and Chief Executive Officer Ken Lewis
today announced that John Thain, current chairman and chief executive
officer of Merrill Lynch, will have a major role in the combined
companies. Lewis also announced that Brian Moynihan will continue as
president of Global Corporate and Investment Banking at Bank of
America until the merger, and will take on a key newly created
enterprise-wide role effective immediately.

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Thain will become president of Global Banking, Securities and
Wealth Management in the combined company once the merger is
completed. His responsibilities will include what is now in Global
Corporate and Investment Banking (GCIB) and most of what is now in
Global Wealth and Investment Management (GWIM) at Bank of America
which will be merged with similar functions at Merrill Lynch.

"I am delighted that John has agreed to join Bank of America,"
Lewis said. "His experience and expertise will be invaluable as we
put our two companies together and move forward as the premier
financial services company in the world."

"This is an opportunity to create what will be the leading
financial institution in the world. Combining these two companies
will create great value for our shareholders and clients around the
world," said Thain. "I look forward to working with Ken and the
business leaders at both companies as we build the world's premiere
financial services firm."

Moynihan will continue as president of GCIB until the merger
occurs. After that, he will become President of Private Equity and
Global Operations reporting to Lewis. The Bank of America private
equity business, LaSalle Global Trust Services, Enterprise Delivery
and Technology, Legal, and Supply Chain Management will begin
reporting to him immediately.

"Our company will look quite different after the merger," Lewis
said. "I have asked Brian to lead an effort that will redefine our
business model, taking into account the strengths of both predecessor
companies and our extensive opportunities around the world. Brian's
background in corporate development, wealth management and corporate
and investment banking make him the ideal person to lead this
initiative. As part of this effort, he is to ensure that we have
optimized our infrastructure investments to drive growth in the
merged company."

Moynihan will also be the Bank of America assessment business
lead for the transition, working with Tom Sanzone, Merrill Lynch
executive vice president and chief administrative officer, who will
perform that function for Merrill Lynch. They will work to ensure
that the companies come together in an optimum way to take advantage
of future business opportunities. Jim Eckerle, current Enterprise
Transition executive at Bank of America, will have that role
responsible for effective and efficient transitions covering LaSalle,
Countrywide and Merrill Lynch.

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 more than 59 million consumer and small
business relationships with more than 6,100 retail banking offices,
more than 18,500 ATMs and award-winning online banking with more than
25 million active users. 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 and has relationships with
99 percent of the U.S. Fortune 500 companies and 83 percent of the
Fortune Global 500. 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.

Additional Information About this Transaction

In connection with the proposed merger, Bank of America has filed
with the SEC a Registration Statement on Form S-4 that includes a
preliminary joint proxy statement of Bank of America and Merrill
Lynch that also constitutes a prospectus of Bank of America. Bank of
America and Merrill Lynch will mail the definitive joint proxy
statement/prospectus to their respective stockholders. Bank of
America and Merrill Lynch urge investors and security holders to read
the definitive joint proxy statement/prospectus regarding the
proposed merger when it becomes available because it will contain
important information. You may obtain copies of all documents filed
with the SEC regarding this transaction, free of charge, at the SEC's
website (http://www.sec.gov). You may also obtain these documents,
free of charge, from Bank of America's website
(http://www.bankofamerica.com) under the tab "About Bank of America"
and then under the heading "Investor Relations" and then under the
item "SEC Filings". You may also obtain these documents, free of
charge, from Merrill Lynch's website (http://www.ml.com) under the
tab "Investor Relations" and then under the heading "SEC Filings."

Proxy Solicitation

Bank of America, Merrill Lynch and their respective directors,
executive officers and certain other members of management and
employees may be soliciting proxies from stockholders in favor of the
merger. Information regarding the persons who may, under the rules of
the SEC, be considered participants in the solicitation of the
stockholders in connection with the proposed merger will be set forth
in the definitive joint proxy statement/prospectus. You can find
information about Bank of America's executive officers and directors
in its definitive proxy statement filed with the SEC on March 19,
2008. You can find information about Merrill Lynch's executive
officers and directors in its definitive proxy statement filed with
the SEC on March 14, 2008. You can obtain free copies of these
documents from Bank of America and Merrill Lynch using the contact
information above.

http://www.bankofamerica.com

Web site: http://www.bankofamerica.com

ots Originaltext: Bank of America Corporation
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Investors, Kevin Stitt, +1-704-386-5667, or Lee McEntire,
+1-704-388-6780, or Reporters, Scott Silvestri, +1-980-388-9921,
scott.silvestri@bankofamerica.com, all of Bank of America; Photo:
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