Company Profile

ne of the world's leading financial services companies, Bank of America is committed to making banking work for customers like it never has before. Through innovative technologies and the ingenuity of its people, Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose through the nation's largest financial services network, including approximately 4,202 domestic offices and 13,266ATMs, as well as 38 international offices serving clients in 150 countries and an Internet Web site that provides online access for more than six million online customers, more than any other bank.

Dun & Bradstreet Number: 05-516-9452
Corporate Tax ID Number: 56-0906609
Web site address: www.bankofamerica.com

Management reports the corporation's operating results in four business segments:

Consumer and Commercial Banking — Consumer and Commercial Banking provides a wide array of products and services to individuals, small businesses and middle-market companies through multiple delivery channels.

Global Corporate and Investment Banking — Global Corporate and Investment Banking provides a broad array of financial services such as investment banking; trade finance; treasury management; and capital markets, leasing and financial advisory services to domestic and international corporations, financial institutions and government entities.

Asset Management — Asset Management consists of:

• The Private Bank, which provides customized asset-management and credit, financial advisory fiduciary, trust and banking services to high-net-worth clients and foundations
  
  
• Banc of America Capital Management, which offers management of equity, fixed-income, cash and alternative investments; manages the assets of individuals, corporations, municipalities, foundations and universities, and public and private institutions; and provides advisory services to the bank's affiliated family of mutual funds
  
  
• Banc of America Investment Securities, Inc., which provides both full-service and discount brokerage services through investment professionals located throughout the franchise and a brokerage Web site that provides customers with a wide array of market analyses, investment research and self-help tools, account information and transaction capabilities

Equity Investments — Equity Investments includes Principal Investing comprised of a diversified portfolio of companies serving clients in all stages of the business cycle. Investments are made on both a direct and indirect basis in the United States and overseas. Equity Investments also include the bank's strategic technology and alliances investment portfolio in addition to other parent company investments.

Approximate number of full-time equivalent human resources assigned to environmental programs and activities worldwide:

• One in Environmental Initiatives
• Three in Environmental Services, which provides environmental risk management services — changed to outsourcing in 2002
• One in the National Source Reduction and Recycling program

Most of the bank's assets (loans outstanding, for example) are booked in the United States. However, in those cases where income is earned and expenses are incurred offshore to serve a relationship, those assets are booked offshore.

As of December 31, 2002, the commercial lending business was concentrated in the following industries: transportation, media, health care, business services, agribusiness, equipment and general manufacturing, retail, oil and gas, autos and telecommunications.

Significant changes in company structure (for example, acquisitions and divestitures, sectors and product lines) occurred during the five years prior to 2002 (see Appendix Two).

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