#1 Online Bank: Service, Sales and SecuritySanjay GuptaE-Commerce/ATM ExecutiveBank of America

February 7, 2007

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Forward-Looking Statements

This presentation contains forward-looking statements, including statements about the financial conditions, results of operations and earnings outlook of Bank of America Corporation. The forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results or earnings to differ materially from such forward-looking statements include, among others, the following: 1) projected business increases following process changes and other investments are lower than expected; 2) competitive pressure among financial services companies increases significantly; 3) general economic conditions are less favorable than expected; 4) political conditions including the threat of future terrorist activity and related actions by the United States abroad may adversely affect the company’s businesses and economic conditions as a whole; 5) changes in the interest rate environment reduce interest margins and impact funding sources; 6) changes in foreign exchange rates increases exposure; 7) changes in market rates and prices may adversely impact the value of financial products; 8) legislation or regulatory environments, requirements or changes adversely affect the businesses in which the company is engaged; 9) changes in accounting standards, rules or interpretations, 10) litigation liabilities, including costs, expenses, settlements and judgments, may adversely affect the company or its businesses; 11) mergers and acquisitions and their integration into the company; and 12) decisions to downsize, sell or close units or otherwise change the business mix of any of the company. For further information regarding Bank of America Corporation, please read the Bank of America reports filed with the SEC and available at www.sec.gov.

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Contents

Online banking industry landscape

Market positioning and successes

Why online banking is important

Strategies for growing the e-Commerce business

Opportunities and threats

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Growth of online U.S. households

Broadband penetration

Online banking household growth

Online bill pay growth

Key Industry Trends

Industry Landscape

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Leading Market Share

No. 1 Retail deposits 13.2 %

37.0 %

Market Share

No. 6 First mortgage* 3.4 %

No. 1 Home equity * 9.5 %

No. 1 Online Banking*

67.0 %No. 1 Online Bill Pay*

22.4 %No. 1 Small Business*

20.6 %No. 1 Credit Card*

No. 1 Debit Card 16.5 %

No. 2 Merchant Services* 16.0 %

*Credit Card/OLB data is Q3 2006*Merchant Services/Small Bus 4Q 2005*First Mortgage/Home Equity FY2006

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21.2 Million Online Banking Active Users

Bill Pay users

14.7

7.4

7.3

21.2

10.1

11.1

Q4 2006Q4 2005

7.2

12.4

4.0 6.63.2

5.8

Q4 2003 Q4 2004

Online Banking Growth

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Incremental Online Customer Relationship Value*

DepositBalances

LoanBalances

Profitability

Why Online Banking Is Important

*Three years after going online, combined access-onlyand bill pay customers

15%

28% 27%

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Leadership Among Top Websites

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Why Online Banking is Important: Service Into Sales

2002 2003 2004 2005

90%

Sales of Online Products% increase

66%

61%

45%

2006

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Online Sales Growth

Sales Growth Q4 2006 vs Q4 2005

Checking Savings Debit Card

Credit Card

1st

MortgageHome Equity

Insurance TotalProduction

112%

34% 37% 25%

200%

16% 30% 40%

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29.5MM32.3MM

36.5MM

21.9%9.6%26.3%

15.8%

7.7%

11.8%

54.2%

68.4%

51.0%

8.1%

14.3%

10.9%

2004 2005 2006

Product Sales Mix % by Channel

Diversifying Distribution

Direct Mail

Banking Center

E-Commerce

Other

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10% 10%26%

2% 7%

12%22%

34%

37%

65%

49%

25%

2004 2005 2006

$36

$164

$46

Credit Card Origination Costs

$109 $100 $84Avg. cost

Direct Mail

Banking Center

E-Commerce

Other

Lowering Costs

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Growth Opportunities: Affinity Relationships

• More than 5,000 organizations endorse our products including:

– 1,400 professional organizations

– 900 colleges and universities

– 600 sports related organizations

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Taking Learning to Affinities

Partnership with L.L. Bean: • Prominent homepage

placement on L.L.Bean.com• “You Could Have Saved”

campaign

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eMerchandizing BAC.com

• Best in class online retail capabilities

• Creative quality

• Value propositions

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International

• Online contributes more than 40% of U.K. sales

• Additional opportunity in Ireland, Spain and Canada

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Lowering Costs: Card Statement Suppression

• Suppression functionality offered to customers

• Immediate acceptance • Innovative and cost efficient • Environmentally friendly

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Innovation: Budget & Expense Management

• Expense categorization/budgeting tools

• Automatic transaction assignment

• Reporting capability• Cross-sell opportunities

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Small Business Opportunities 24x7 Expansion…

• Online invoicing

• Online payments

• Online payroll

• Cross-sell on consumer pages

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$0 Trade

• Innovative, first to market offering launched in Q406

• Nationwide launch complete by Q1

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Web-Based ATM Opportunities

• Low-cost channel

• Reduce teller lines

• Targeted cross-sell

• Customer channel choice

• Same “look and feel”

• Customer satisfaction

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E-Commerce Threats

No longer open emails that say they are from my financial provider

Not enroll in online banking or bill pay

Not apply online for a financial product

Stop using online banking or bill pay

“To what extent do you agree with the following statement: Concern about phishing has caused me to …”

Source: Forrester. Base: US online consumers who answered “agree” or “strongly agree”

14%

19%

20%

26%

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Best-In-Class: SiteKey

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Recognition: SiteKey

“THANK YOU for the extra level of protection via the SiteKey.”

“I feel more confident knowing that I am accessing a ‘true’ Bank of America site.”

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E-Alerts: Balance, Payments, Security

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Recognition: Service, Sales and Security

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Questions and Answers

www.bankofamerica.com