Bank of America Lowers Prime Lending Rate to 7.75%

CHARLOTTE, N.C., Sept. 18 /PRNewswire-FirstCall/ -- Bank of America, N.A., announced today that it is lowering its prime-lending rate to 7.75 percent from 8.25 percent, effective September 18, 2007.

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(In some Bank of America loan documentation, the term "reference rate" has been used to refer to this lending rate. The terms "prime rate" and "reference rate" refer to the same rate.)

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 57 million consumer and small business relationships with more than 5,700 retail banking offices, more than 17,000 ATMs and award-winning online banking with more than 22 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Fortune Global 500. Bank of America Corporation stock is listed on the New York Stock Exchange.