Result of Tender Offer

May 23, 2012

Bank of America Announces Expiration and Final Results of Tender Offers for Certain Capital Securities

CHARLOTTE - Bank of America Corporation and its wholly-owned subsidiaries BANA Holding Corporation and NB Holdings Corporation (the "Offerors") today announced the expiration of their tender offers (the "Offers") for certain of their respective capital securities listed in the table below (collectively, the "Securities").

As of the "Expiration Date" for the Offers, which was midnight, New York City time, on May 22, 2012, a total of approximately $915 million (or its equivalent in British pounds) in aggregate principal amount of the Securities had been validly tendered and not withdrawn. All such tendered Securities will be accepted for purchase.

The following table lists the series of Securities that were subject to the Offers and the aggregate principal amount of each series of Securities tendered and not withdrawn as of the Expiration Date:

_______________

1 Formerly known as ABN AMRO North America Capital Funding Trust I.

Payment for Securities of any series will be made in the same currency in which such series of Securities is denominated. Payment is expected to occur on May 25, 2012. Holders of Securities accepted for purchase will also receive accrued and unpaid interest on their purchased Securities from the last interest payment date applicable to such Securities to, but not including, the payment date.

The complete terms and conditions of the Offers are described in the Offer to Purchase, dated April 25, 2012 (the "Offer to Purchase"), and the related Letter of Transmittal (the "Letter of Transmittal").

The MBNA Capital B Floating Rate Capital Securities, Series B (CUSIP Number: 55263KAA9) are listed on the New York Stock Exchange. The BAC Capital Trust VII 5 ¼% Capital Securities (ISIN: XS0226849221) are listed on the London Stock Exchange. The remaining series of Securities that were subject to the Offers are not listed on any securities exchange or regulated market.

BofA Merrill Lynch acted as dealer manager for the Offers.

This announcement shall not constitute a solicitation to buy or an offer to purchase any securities. The Offers were made only pursuant to the Offer to Purchase and the related Letter of Transmittal.

Forward-Looking Statements

Certain statements in this announcement represent the current expectations, plans or forecasts of Bank of America and are forward-looking. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements often use words like "expects," "anticipates," "believes," "estimates," "targets," "intends," "plans," "predict," "goal" and other similar expressions or future or conditional verbs such as "will," "may," "might," "should," "would" and "could." The forward-looking statements made in this announcement include, without limitation, statements concerning the expected timing of payment for the tendered Securities. Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.

These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks discussed under Item 1A. "Risk Factors" of Bank of America's Annual Report on Form 10-K for the year ended December 31, 2011 and in any of Bank of America's other subsequent Securities and Exchange Commission filings.