Bank of America Corporation announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.01 per share, payable on March 26, 2010 to shareholders of record as of March 5, 2010. The board also declared a regular quarterly cash dividend of $1.75 per share on the 7% cumulative redeemable preferred stock, Series B. The dividend is payable on April 23, 2010 to shareholders of record as of April 9, 2010. In addition, the board declared an initial quarterly cash dividend on the common equivalent junior preferred stock, series S. To the extent that shares of the series S preferred stock are outstanding on March 5, 2010, the initial quarterly cash dividend will be payable on March 26, 2010 to shareholders of record as of March 5, 2010. The cash dividend on each of these shares will be payable in an amount equal to $0.01 multiplied by the number of shares of common stock into which a share of the Series S Preferred Stock is convertible on March 5, 2010.

Finkelstein & Krinsk LLP filed class action lawsuit against Bank of America Corporation. A class action securities lawsuit Montgomery v Bank of America Corporation, et. al., has been commenced in the United States District Court for the Southern District of New York on behalf of persons and entities that purchased certain Bank of America Corporation shares of fixed to floating rate non-cumulative preferred stock series K; shares of the BofA 7.25% non-cumulative perpetual convertible stock; or shares of the BofA 8.20% non-cumulative preferred stock series H pursuant or traceable to the Registration Statement and Prospectuses issued in connection with the securities offerings. The complaint alleges that BofA and certain of its officers, directors, underwriters and auditors violated the Securities Act of 1933. Specifically, on or about January 25, 2008, BofA consummated the Series K Offering selling 6 million shares of the Series K Securities for proceeds of $6 billion. On or about January 28, 2008, defendant consummated the Series L Offering selling 6.9 million shares of the Series L Securities for proceeds of $9.6 billion. On or about May 20, 2008, defendant consummated the Series H Offering selling 117 million shares of the Series H Securities for proceeds of $2.925 billion. On January 16, 2009, BofA issued a press release for the fourth quarter and full year 2008 reporting a net loss of $1.79 billion and reporting inter alia, CDO-related losses of $1.72 billion, an allowance of $2.99 billion for loan and lease losses during the quarter and write downs of commercial mortgage-backed securities and related transactions of $853 million. According to the complaint, the true facts omitted from the Registration Statement and Prospectuses were the company's loans, leases, CDOs, and commercial mortgages backed securities were impaired to a far greater extent than disclosed, defendants failed to properly record losses for impaired assets, the company's internal controls were inadequate to prevent the company from improperly reporting its impaired assets, and the company's capital base was inadequate relative to the magnitude of impaired assets. Plaintiff seeks to recover damages on behalf of all persons who acquired the Securities pursuant or traceable to the Registration Statement and Prospectuses issued in connection with the offerings. Plaintiff is represented by Finkelstein & Krinsk LLP and Klafter Olsen & Lesser LLP, highly experienced law firms litigating securities cases throughout the country. As a member of the Class described above, you may, not later than March 26, 2010, move the Court to serve as lead plaintiff for the Class.

Bank of America Corporation reported consolidated earnings results for the fourth quarter and year ended December 31, 2009. For the quarter, the company reported net loss applicable to common shareholders of $5,196 million or $0.60 per basic and diluted share compared to net loss applicable to common shareholders of $2,392 million or $0.48 per basic and diluted share a year ago. Net interest income was $11,559 million against $13,106 million a year ago. Total revenue, net of interest expense was $25,076 million against $15,680 million a year ago. Loss before income taxes was $1,419 million against $3,802 million a year ago. Net interest income declined from the year-ago quarter as a result of lower asset liability management portfolio levels and reduced loan demand. For the year, the company reported net loss applicable to common shareholders of $2,204 million or $0.29 per basic and diluted share compared to net income applicable to common shareholders of $2,556 million or $0.54 per basic and diluted share a year ago. Net interest income was $47,109 million against $45,360 million a year ago. Total revenue, net of interest expense was $119,643 million against $72,782 million a year ago. Income before income taxes was $4,360 million against $4,428 million a year ago. Return on average assets was 0.26% against 0.22% a year ago. Book value per share of common stock was $21.48 against $27.77 a year ago.