Sibos 2008, Vienna, Austria - Bank of America today announced the launch of Eco-Deduct™, a new environmental rewards program associated with cross-border US$ wire transfers. Under the program, Bank of America will reward new or increased volumes of US$ commercial wire transfer payments by making donations to The Nature Conservancyâ€â€?a leading global conservation organization dedicated to protecting ecologically important lands and waters around the world for people and nature. "Eco-Deduct extends Bank of America's commitment to the environment to our clients," said Catherine P. Bessant, President of Bank of America Global Product Solutions. "Together with our clients, Bank of America promotes environmentally sustainable business practices by applying a strong environmental focus to our products and services. Eco-Deduct is an innovative rewards program that supports The Nature Conservancy's mission of conserving wildlife habitats and addressing climate change." Financial institutions based outside the United States who do not have access to the US clearing system use banks such as Bank of America to process US$ commercial payments, including wire transfers, that are ordered by their customers. Through Eco-Deduct, Bank of America will donate 25 cents to The Nature Conservancy for each such payment from a new client or each payment that represents added volume from existing clients. Eco-Deduct contributions will be in addition to Bank of America's existing support for The Nature Conservancy. Participation in Eco-Deduct is voluntary for financial institution clients, but it will cost nothing to participate as the contributions are made by Bank of America without any increase in clients' fees. Participating clients will choose one of four programs supporting conservation and climate change work in Australia, Brazil, Costa Rica and parts of Africa. Protecting and restoring forest and grassland habitats in these areas will not only ensure these places remain natural areas but will also prevent the release of carbon emissions into the atmosphere and help to address the impacts of climate change. Clients will receive regular detailed reports regarding the progress of the project and what their contributions have made possible. "Conserving forests and grasslands around the world protects plants and animals, but it also enhances human well-being and helps address climate change," said Mark Tercek, president and CEO of The Nature Conservancy. "We are pleased to work with Bank of America on the Eco-Deduct program, which will support the permanent protection and restoration of crucial natural places. With forest destruction producing nearly 20 percent of carbon emissions worldwide, it is important to do all we can to keep our forests and grasslands intact and healthy." Bank of America has a legacy of environmental leadership dating back two decades, when it began advancing the sustainability of its own operations and business practices. In March 2007, the company announced a $20 billion, 10-year environmental initiative to address climate change by championing sustainable business practices through innovative lending and investment strategies, new financial products and services, and operations. Results under this initiative include investments in solar and other renewable energy efforts at schools, municipalities and businesses; financing the preservation of forests; and green building efforts, including the Bank of America Tower at One Bryant Park in New York City that, when completed in 2009, will be one of the most environmentally friendly and efficient office buildings in the world. For more information on Bank of America's environmental efforts, visit www.bankofamerica.com/environment. About Nature Conservancy The Nature Conservancy is a leading conservation organization working around the world to protect ecologically important lands and waters for nature and people. To date, the Conservancy and its more than one million members have been responsible for the protection of more than 18 million acres in the United States and have helped preserve more than 117 million acres in Latin America, the Caribbean, Africa, Asia and the Pacific. Visit The Nature Conservancy on the Web at www.nature.org. About Bank of America Bank of America (NYSE: BAC) 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 products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit www.bankofamerica.com. # # # Contacts: Liz Larvin, Fishburn Hedges +44 797 400 5285 liz.Larvin@fishburn-hedges.co.uk
