Charlotte, North Carolina, November 17 (ots/PRNewswire) -

Bank of America Corporation has given notice of its plan to
exercise the remainder of its option to purchase ordinary shares of
China Construction Bank Corporation from China SAFE Investments
Limited (Huijin). Bank of America acquired the option from Huijin in
connection with its investment in CCB in June 2005. Bank of America
expects the purchase of the option shares will be completed by the
end of November. Immediately following the purchase, Bank of America
would hold about 44.7 billion H-shares of CCB, representing about
19.1 percent of CCB's issued shares.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b
)

Bank of America currently holds approximately 10.75 percent of
the issued shares. The shares being acquired under the option may not
be sold until August 29, 2011 without CCB's consent. Bank of America
intends to remain a long-term and significant strategic investor in
CCB. In addition, both companies intend to further their mutual
cooperation and other initiatives under the 2005 Strategic Assistance
Agreement.

Bank of America

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 more than 59 million consumer and small
business relationships with more than 6,100 retail banking offices,
more than 18,000 ATMs and award-winning online banking with more than
25 million active users. Bank of America offers industry leading
support to more than 4 million small business owners through a suite
of innovative, easy-to-use online products and services. The company
serves clients in more than 150 countries and has relationships with
99 percent of the U.S. Fortune 500 companies and 83 percent of the
Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is
a component of the Dow Jones Industrial Average and is listed on the
New York Stock Exchange.

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