1. Global Corporate and Investment Banking
Gene Taylor
Bank of America Vice Chairman and
Global Corporate and Investment Banking President

2. 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.
2

3. Bank of America Business Client Coverage
Global Corporate and Investment Banking
Global Commercial Banking Global Investment Banking Global Markets
• Middle Market Banking - Corporations with Institutional investors
$20MM -$2B sales > $2B sales • Mutual funds
• Sponsors • Pension funds
• Business Banking –
$2.5MM-$20MM sales • Industry coverage • Hedge funds
• Bus. and Info. • Healthcare • Corporate Investors
• Commercial Real Estate Services
• Natural • Asset managers
Banking • Consumer/Retail Resources
• Foreign reserve managers
• Leasing • Financial Inst. • Real Estate
• Gaming • Technology/
• Dealer Financial Services • Global
Media/Telecom
Industries
• Business Capital
3

4. 2006 Bank of America Revenue / Earnings
Revenue Earnings
Other Other
Wealth Mgt. 3% Wealth Mgt. 4%
10% 11%
Global Consumer
Corporate Consumer Bank
Bank Global 53%
and
56% Corporate
Investment
and
Banking
Investment
31%
Banking
32%
4

5. Global Corporate and Investment Banking
2006 Revenue and Earnings
Revenue Earnings
ALM/Other ALM/Other
Business 10%
9%
Lending
25% Business
Lending
33%
Cap
Mkts/Adv
Svcs
Cap
25%
Mkts/Adv
Svcs
36%
Treasury
30% Treasury
32%
5 ALM/Other includes LatAm and Asia Commerical

6. Global Corporate and Investment Banking
Strategy for Growth
Deepen client relationships/ Goals by 2011
develop new ones
• Increase
revenues by
$10 billion
Increase our international presence
• Increase
earnings by $3
billion
Strategically deploy capital
6

7. Where We Can Be Bigger
• Business Banking: Increase number of clients/Increase sales of credit and
cash management products
• Middle Market Leveraged Finance: Increase loan origination and
distribution through structured products channels
• Electronic Payments: Sell more electronic payments products to clients of
all size
• Investment Banking in Targeted Client Groups: Focus on Middle Market
clients, Financial Institutions and Financial Sponsor fee pools
• International Cash Management: Increase our 2 percent non-U.S.
international market share
• International Investment Banking/Capital Markets: Greater market share
in leveraged finance, structured finance, liquid products
7

8. International Opportunity
Bank of America 2005 Revenue gap to top 3 Competitors
in Capital Markets and Advisory Services
12 $11.5
2
10
8 3.6
6
4
5.9
2 $1.1 0.1
0.1
0.9
0
Top 3 Bank of America
Debt S&T Equity S&T Investment Banking
8

9. Attracting New Talent in Capital Markets/Investment
Banking – 2005/2006
Total Capital Markets/Investment Banking Associate Growth: 2,800
+15%
+14%
+11%
Cap Mkts/Inv Bnkg Sales/Trading Debt/Equity Research
9

10. Global Corporate and Investment Banking
Mixed Results vs. Peers
Revenue Growth 2006 v. 2005
Peer Group Average Bank of America
M&A +26% +15%
Debt Underwriting +29% +38%
Equity Underwriting +28% +16%
Debt Sales and
+29% +21%
Trading
Equity Sales and
+45% +6%
Trading
10

11. Winning New Business
Investment Dealers Digest
Deal Bank of America Role
Recognition
• Advisor to Sponsor
consortium
• Joint lead arranger and M&A Deal of the Year
book-running manager on Healthcare Deal of the Year
financing
• Equity bridge commitment
• Advisor to Blackstone
• Joint book-runner on CMBS
Real Estate Deal of the Year
financing
• Equity bridge commitment
• Advisor to Sponsor
consortium
Technology Deal of the Year
• Joint lead manager on
financing
11

12. Investor Quality Scores
3rd 2006
Fixed Income
Quality Index1
9th 2004
5th 2006
Overall Debt Overall Equity 6th 2006
Research Research
7th 2004
Ranking2 Ranking2
9th 2004
1Source: Independent research company
12 2Source: Institutional Investor, September, October, 2006

13. Global Corporate and Investment Banking
Revenue Distribution in 2011
Product Region
3% 5%
8%
28% 24% 14%
31%
32%
89%
81%
45%
40%
2006 2011 2006 2011
Business Lending Treasury Cap Mkts/Adv Svcs Asia EMEA U.S.
13

14. Global Corporate and Investment Banking
How we will Grow
FOCUS + INTEGRATION + EXECUTION
Deepen client relationships/ Goals by 2011
develop new ones
• Increase
revenues by
$10 billion
Increase our international presence
• Increase
earnings by $3
billion
Strategically deploy capital
14

15. Bank of America Business Client Coverage
Global Corporate and Investment Banking
Global Commercial Banking Global Investment Banking Global Markets
• Middle Market Banking - Corporations with Institutional investors
$20MM -$2B sales > $2B sales • Mutual funds
• Sponsors • Pension funds
• Business Banking –
$2.5MM-$20MM sales • Industry coverage • Hedge funds
• Bus. and Info. • Healthcare • Corporate Investors
• Commercial Real Estate Services
• Natural • Asset managers
Banking • Consumer/Retail Resources
• Foreign reserve managers
• Leasing • Financial Inst. • Real Estate
• Gaming • Technology/
• Dealer Financial Services • Global
Media/Telecom
Industries
• Business Capital
15

16. Global Commercial Banking Overview
David Darnell
President, Global Commercial Banking

17. Bank of America Business Client Coverage
Consumer Banking Global Corporate & Investment Banking
Mass Market Global Commercial Global Investment
Global Markets
Small Business Banking Banking
17

18. Bank of America Business Client Coverage
Consumer Banking Global Corporate & Investment Banking
Mass Market Global Commercial Global Investment
Global Markets
Small Business Banking Banking
• Business Banking
• Middle Market Banking
• Commercial Real Estate Banking
• Leasing
• Dealer Financial Services
• Business Capital
18

19. Global Commercial Banking – Strategic Initiatives
FOCUS + INTEGRATION + EXECUTION
Deepen Client Relationships Goals by 2011
Increase
Grow Market Share revenues by
$3.5 billion
in 5 years
Strategically Deploy Capital
19

20. Integrated Delivery
Extended Team
Interest Rate Investment
Protection Banker
Specialist
Client
Manager
Leasing Credit Risk
Specialist Management
Treasury Mgmt.
Sales Officer CLIENT Credit Products
Officer
Commercial International
Service Banker
Center
Private/Premier
Banker
Core Client Team
Other Product Investment
Specialists Specialist
Foreign
Exchange
Specialist
20

21. Global Commercial Banking: Revenue Diversity
Revenue By Product
Other
Investment 11%
Banking
4%
Treasury
44%
Commercial
Credit
34%
Consumer
Credit
7%
Commercial Credit represents 34% of GCB revenues vs. 58% in 2000
21

22. Client Management Process
Client Team Activities
• Client/Prospect Calls
• Client Planning Sessions
Management
& Inspection
• Activity Metrics
• Outcome Metrics
Client • Client Feedback
• Compensation
aligned with
Revenue
Growth
Tools &
Technology
• Action Plans
• Desktop Sales Tools
22

23. Client Management Process At Work
August 22, 2006
has merged with
Banc of America Securities LLC acted as a
financial advisor to Shurgard Storage
Centers, Inc.
23

24. Global Commercial Banking -- Deepen Client
Relationships
FOCUS + INTEGRATION + EXECUTION
Deepen • Focus on Targeted Clients:
Client – Middle Market Banking
Relationships – Business Banking (credit & treasury) Goals by 2011
Increase
revenues
by $3.5 billion
in 5 years
24

25. Growth Opportunity
Expanding Middle Market Relationships
Average Average
Strategy Products per Revenue per
# of Clients Relationship Relationship
Expand &
1,644 8.4 $1,921M
Deepen Top 10%
Aggressively
Remaining Targeted 14,801 5.4 $187M
Grow
25

26. Global Commercial Banking -- Deepen Client
Relationships
FOCUS + INTEGRATION + EXECUTION
Deepen • Focus on Targeted Clients:
Client – Middle Market Banking
Relationships – Business Banking (credit & treasury) Goals by 2011
Increase
revenues
by $3.5 billion
in 5 years
26

27. Growth Opportunity
Business Banking Client Expansion
($ in thousands)
CMP Success
Increased
From To Goal
Products/Relationship 3.0 4.0 5.0
Revenue/Relationship $11.6 $12.8 $15.0
Treasury Penetration 36% 40% 50%
Credit Penetration 38% 46% 52%
27

28. Global Commercial Banking– Grow Market Share
FOCUS + INTEGRATION + EXECUTION
Increase Focus on Targeted Clients
Client • Middle Market Banking
Penetration • Business Banking (credit & treasury) Goals by 2011
Grow • Business Banking Increase
Market • Middle Market Investment Banking revenues by
Share • International (Treasury Management) $3.5 billion
in 5 years
28

29. Growth Opportunity
Middle Market Investment Banking
Dual Coverage Momentum
Product Mix and Revenue Growth
YOY
wth Revenue
% G ro Growth Lift
+33
CMAS
32% 41% +80%
Treasury
Services
41% 36% +18%
Business
Lending 27% 23% +12%
2005 2006
Revenue Mix
Market Share of Total Fees Paid 9% 11%
29

30. GCB Clients Investment Banking Wallet
BAC Middle Market Share of Wallet
2006 Commercial IB Fee Pool = $4.1B
Dual Non-Dual
Coverage Coverage
11.3% 6.4%
30

31. International Growth
Opportunity: Grow Treasury Management
market share
Management
Focus: U.S. clients doing business in
Europe/Asia
Integration: Execution of CMP in Europe/Asia
31

32. Global Commercial Banking – Strategically Deploy
Capital
FOCUS + INTEGRATION + EXECUTION
Increase • Focus on Targeted Clients:
Client –Middle Market Banking
Penetration –Business Banking Goals by 2011
Grow • Business Banking
Market • Middle Market Investment Banking Increase
Share • International (Treasury Management)
revenues
by $3.5 billion
in 5 years
Strategically • International Banking
Deploy • Treasury Management
Capital • Business Banking
32

33. Global Commercial Banking – Strategic Initiatives
FOCUS + INTEGRATION + EXECUTION
Deepen Client Relationships Goals by 2011
Increase
Grow Market Share revenues by
$3.5 billion
in 5 years
Strategically Deploy Capital
33

34. Global Investment Banking
Brian Brille
Global Head of Investment Banking

35. Bank of America Business Client Coverage
Global Corporate & Investment Banking
Global Global
Commercial Investment Global Markets
Banking Banking
• Manages Bank of America’s relationships with large and mid-cap
corporate clients
• Delivers full spectrum of Bank of America’s products
• Employs integrated corporate and investment banking model
• Coverage teams span ten industry groups, including Financial Sponsors
35

36. Global Investment Banking – Strategic Themes
FOCUS + INTEGRATION + EXECUTION
Goals by 2011
Integrated Delivery of the Bank’s Capabilities
• Drive $2.5 billion in
incremental
corporate and
investment banking
revenues
Capture Largest Fee Pool Opportunities
• Achieve Top 3
share in U.S.
investment banking
• Become a Top 10
Grow International Presence investment bank in
Europe
36

37. Integrated Delivery of the Bank’s Capabilities
FOCUS + INTEGRATION + EXECUTION
Integrated • Integrated corporate and investment bank
Delivery of • Dual coverage of commercial bank clients
the Bank’s • Universal bank partnerships
Capabilities - Global Wealth & Investment Management
37

38. Integrated Corporate and Investment Banking Model
Team
Key Decision Maker Quarterbacks Superior Ideas and Solutions
CLIENT SOLUTIONS PRODUCT HUBS
Board of Directors Investment Strategic & M&A
Financial
Banker Equities
Advisory
Convertibles Debt
CEO High Grade & High Yield Debt
ers
Cov
Structured Finance
geTeam Memb
erag
Restructurings
Client-focused
CFO Investment Grade Loan Syndications
team providing
eTeam Mem
Capital Liquid Products
strategically
Raising Asset Backed Finance
Head of Corporate aligned and
& Capital Private Placements
Development integrated Management
era
Public Finance
coverage Credit & Leasing
Cov
ers b
Treasurer Treasury & Trade
Wealth Management
Transaction Asset Management
Corporate Services &
Assistant Treasurer Operating
Banker
Products
Primary Investment Banking Focus
Joint Investment Banking and Corporate Banking Focus
Primary Corporate Banking Focus
38

39. Integrated Delivery Initiatives
Global Commercial Banking
• Dual coverage of 1,300 commercial banking clients
Global Markets
• Early engagement of product teams (e.g. FX and Derivatives) in
all capital raising and advisory situations to increase event
driven revenues
Global Wealth & Investment Management
• Cross referral program to expand business opportunities
Global Treasury Services
• Leverage market leadership in GTS to drive increased revenues
in both treasury services and investment banking products
39

40. Global Treasury Services Growth Opportunity
Global Treasury Services Number of Products
Penetration of Corporate Clients Per Relationship
80.0%
66.0% 6.7
5.7
2006 2011 2006 2011
• Corporate clients generate $2.0 billion, or 30%, of total GTS revenues.
• Significant revenue lift from multi-product relationships
• Important strategic relationship lever
40

41. Largest Fee Pool Opportunities
FOCUS + INTEGRATION + EXECUTION
Integrated
Delivery of
the Bank’s
Capabilities
Largest • Under-penetrated, high-fee pool industries
Fee Pool • M&A and Equity Capital Markets
Opportunities
• Financial Sponsors
41

42. Growing Investment Banking Fee Pools
Global Fee Pools 2002 - 2006 By Product ($B) Global Fee Pools 2002 - 2006 By Geography ($B)
CAGR CAGR
$76 19% $76 19%
17 24%
$62 24 17% $62
$54 $54 13
21
$45 $45 12
19 27 22%
21 20%
$38 $38 10
18 22
16 7 16
13
16 14
12
13
10
31 21% 32 15%
25 25 26
19 18 21
14 15
2002 2003 2004 2005 2006 2002 2003 2004 2005 2006
M&A Equity Debt US EMEA Other
42 Source: Thomson Financial / Freeman & Co

43. Investment Banking - Relative Market Position
2006 U.S. Fee Pool Share
8.4% 8.4%
6.9%
6.7%
6.1%
5.5% 5.4% 5.2%
4.5%
3.1%
JPM GS CITI MS ML BAS LEH CS UBS WACH
1 2 3 4 5 6 7 8 9 10
43 Source: Thomson Financial / Freeman & Co

44. Strong U.S. Investment Banking Product Momentum
League Table Position: 1999 to 2006
1
2nd 2nd
3rd
5
5th
6th
8th
10 9th 9th
10th
11th
13th
15
20
21st
25
Loan High Grade High Yield Converts Equities M&A
Syndications
1999 2006
44

45. U.S. Investment Banking Fee Pools by Industry
2006 U.S. Fee Pools by Industry Group ($B)
$7.2
$5.7
$5.1
$3.7
$3.4 $3.2
$2.3
$1.0
FIG TMT GIG Nat Re HC REG C&R Bus Svcs
BAC
Rank
#7 #11 #4 #9 #1 #1 #3 #5
45 Source: Thomson Financial / Freeman & Co

46. Financial Institutions
Universal bank model positions Bank of America well
2006 Financial Institutions Fee Pools 2006 Financial Institutions U.S. Share
by Product ($B) By Competitor By Product
900
$8.0 $7.2
$6.8 11.0%
7.0 750
9.1%
6.0 8.4%
600
7.2%
5.0 6.9%
$4.1
5.9%
450
4.0
4.3%
3.0 300 3.8% 3.7% 3.7%
2.0
150
1.0
0
0.0 GS CITI MS ML JPM LEH BAS UBS CS WACH
US EMEA Other
Rank: 1 2 3 4 5 6 7 8 9 10
M&A Equity Debt M&A Equity Debt
46 Source: Thomson Financial / Freeman & Co

47. Financial Sponsors
Evolution of sponsor market presents attractive opportunities
Total U.S. LBO Volume 1996 – 2006 ($B)
25%
22%
$350 21%
18% 20%
300 $315
17%
250
% of Overall M&A
13% 15%
$198
200
Volume
8% $137
150 10%
4% 5% $95
100 3% $63
3% 3%
$41 $41 5%
$29 $29 $41 $23
50
0
0%
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
47 Source: Buyouts Magazine: Completed Deals

48. Financial Sponsors – Strategies for Growth
Financial Sponsors 2006 Fee Pools Financial Sponsors 2006 U.S. Fee Pools
by Product ($B) by Competitor By Product
$8.0 800
$7.2 10.2%
9.7%
7.0
8.7%
6.0 600
7.0% 6.8%
5.0 6.5%
$4.2 5.9% 5.8%
5.4%
4.0 400
4.4%
3.0
2.0 200
1.0 $0.7
0.0 0
US EMEA Other JPM GS CS CITI LEH BAS DB MS ML UBS
Rank: 1 2 3 4 5 6 7 8 9 10
M&A Equity Debt
M&A Equity Debt
48 Source: Thomson Financial / Freeman & Co

49. Grow International Presence
FOCUS + INTEGRATION + EXECUTION
Integrated
Delivery of
the Bank’s
Capabilities
Capture
Largest
Fee Pool
Opportunities
Grow • Financial Sponsors / Leveraged Finance
International • Financial Institutions
Presence • Lever U.S strengths
49

50. Global Investment Banking – Grow International Presence
• Core competency in leveraged finance
Financial • Strong sponsor relationships in U.S.
Sponsors
• Sponsor fee pool in Europe growing rapidly
Become a
Financial • Integrated approach with Global Markets top 10
Institutions • Leverage corporate banking opportunities
investment bank
in Europe
Lever • Capture international business of U.S. clients
U.S. • Serve European clients with ties to U.S.
strengths markets
50

51. Strong Growth Rate,Yet Room to Grow
Bank of America has outperformed its peer group, albeit off a smaller base
IB Revenues in ($MM)
28% $4,659
$1,146
$3,653
$898
31% $2,476 $1,572
$316
$1,891 $338 $1,251
$273
$295
$1,822 $1,941
$1,323 $1,504
2005 2006 2005 2006
Debt U/W Advisory Equity U/W
Bank of America Peer Group
51 Source: GCIB Finance, & Externally Reported Financials. Peer Group includes JPM, CITI, GS, MS, MER, BSC, LEH

52. Global Investment Banking – Strategic Themes
FOCUS + INTEGRATION + EXECUTION
Goals by 2011
Integrated Delivery of the Bank’s Capabilities
• Drive $2.5 billion in
incremental
corporate and
investment banking
revenue
Capture Largest Fee Pool Opportunities
• Achieve Top 3
share in U.S.
investment banking
• Become a Top 10
Grow International Presence investment bank in
Europe
52

54. Global Markets
Mark Werner
Head of Global Markets

55. Bank of America Business Client Coverage
Global Corporate & Investment Banking
Global Commercial Banking Global Investment Banking Global Markets
• Middle Market Banking - Corporations with Institutional investors
$20MM -$2B sales > $2B sales • Mutual funds
• Sponsors • Pension funds
• Business Banking - $2.5
MM-$20MM sales • Industry coverage • Hedge funds
• Bus. & Info. • Healthcare • Corporate Investors
• Commercial Real Estate Services
• Natural • Asset managers
Banking • Consumer/Retail Resources
• Foreign reserve managers
• Leasing • Financial Inst. • Real Estate
• Gaming • Technology/
• Dealer Financial Services • Global
Media/Telecom
Industries
• Business Capital
55

56. Global Markets – Strategic Themes
FOCUS + INTEGRATION + EXECUTION
INCREASE CLIENT PENETRATION
Goals by 2011
• Increase
revenues by $4
billion in 5 years
• Become top 3
GROW INTERNATIONAL PRESENCE
broker-dealer
to targeted
institutional
clients
• Reach top 10
STRATEGICALLY DEPLOY CAPITAL standing in
Europe
56

57. Global Markets – Increase Client Penetration
FOCUS + INTEGRATION + EXECUTION
INCREASE CLIENT
PENETRATION
• Target Clients
• Integrate across
Bank of America
• Build Infrastructure
57

58. Global Markets – Increase Client Penetration
1 Shift of fee pools toward Hedge Funds,
Financial Institutions
Hedge Funds
Banks/Insurance
Other Institutional Investors
• Target Clients
• Integrate 1993 2004
Across Bank
• Build 2 Shift of assets toward Fixed Income
infrastructure
Fixed Income/other
Equity
2001 Q106
58

59. Global Markets – Increase Client Penetration
Commercial
• Target Clients
Global Wealth
• Integrate
Global Markets and
Across Bank Consumer Investment
• Build Management
infrastructure
Corporate
Investments
59

60. Global Markets – Increase Client Penetration
E-TRADING FASTER
• Target Clients
• Integrate
Across Bank ANALYTICS SMARTER
• Build
infrastructure
CLIENT PROFITABILITY BETTER
60

61. Global Markets – Increase Client Penetration
Increased revenues with top Fixed Income-
oriented Hedge Funds, Financial Institutions and
Asset Managers
Target Clients
50%
+
Integrate Across Bank =
+
Build infrastructure
Current Sales & Estimated Sales and
Trading Revenues Trading Revenues by
2011
61

62. Global Markets – Grow International Presence
FOCUS + INTEGRATION + EXECUTION
INCREASE CLIENT
PENETRATION
• Leverage U.S. platform
overseas
GROW INTERNATIONAL • Invest in Liquid Products,
PRESENCE Equity Derivatives,
Institutional Distribution,
Structured Products
62

63. Global Markets – Grow International Presence
Leverage strong U.S. position
• Leading U.S. Swap House with
Liquid
Corporate and
Products
Institutional Investors
Become a top
Equity 10 investment
• Top Equity Derivative House bank in
Derivatives
Europe
• Top Real Estate Finance
Structured House
Products
• IFR “CDO House of the Year”
63

64. Global Markets – Grow International Presence
• Local Client Coverage
Liquid • Structured Rates and Interest Rate
Products Derivatives
• Primary Dealership
Become a top
• Structured Derivatives 10 investment
Equity
• Third Party Distribution bank in
Derivatives
• Institutional Sales Coverage Europe
• Real Estate Finance
Structured • Collateralized Debt
Products Obligations (CDOs)
• Structured Credit
64

65. Global Markets – Strategically Deploy Capital
FOCUS + INTEGRATION + EXECUTION
INCREASE CLIENT
PENETRATION
• Increase Share in Core
Trading Franchises and
GROW INTERNATIONAL Structured Solutions
PRESENCE • Build out Principal Finance,
Special Situations, and
Commodities
STRATEGICALLY DEPLOY
CAPITAL
65

66. Global Markets – Strategically Deploy Capital
Structured Finance
and International
Commodities and
Principal Finance
Build out Structured
new Solutions
businesses
Core Trading Capabilities
Market Making
Activities
66

67. Global Markets – Strategically Deploy Capital
Rationale
• Capitalize on market
Commodities and growth
Principal Finance • Leverage strengths
• Client demand for capital
• Utilize integrated model
Build out Structured
new Solutions
businesses
Core Trading Capabilities
Market Making
Activities
67

68. Global Markets – Strategically Deploy Capital
Commercial Bank Global Markets Institutional Investor
Clients
Banks
Middle Market
Finance Group
Client
Managers
Insurance
Origination
Structuring
Hedge
Funds
Distribution
68

69. Global Markets – Strategic Themes
FOCUS + INTEGRATION + EXECUTION
INCREASE CLIENT PENETRATION
Goals by 2011
• Increase
revenues by $4
billion in 5 years
• Become a top 3
GROW INTERNATIONAL PRESENCE
broker-dealer to
targeted
institutional
clients
• Reach top 10
STRATEGICALLY DEPLOY CAPITAL standing in
Europe
69

70. Global Treasury Services
Cathy Bessant
President, Global Treasury Services

71. Global Treasury Services
• Position of strength: Operating performance and market share
• Organic growth opportunities are significant
• Strategic deployment of capital to preserve existing share and
accelerate organic growth
71

72. Bank of America is the Dominant Global Provider of Treasury
Services With a Track Record of Strong Growth
2005-2006 Global Competitor BAC Global Treasury Services
Treasury Revenue ($B) Revenue Growth ($B)
6.7 6.7
6.0 6.0 2003- 2006
5.2 5.2 ($B) CAGR
4.9 4.8 Net
4.1 4,015
3.9 Interest 1.6 19%
3,405
3.3 Income
3.5 2,515
2.5
2,294
2.3
2.7
2.5
Noninterest
2.7 Income
2.5
2,518 2,689 2.6
2,611 2.8
2,760 .3 4%
1.9 12%
2005 2006 2005 2006 2005 2006 2005 2006
2003 2004 2005 2006
BAC JPM Citi Wach
2006 Efficiency Transaction Volume 12.1 13.0 13.7 ---- 13.2%
48.6% 56% 66.2% n/m
Ratio (Billions)
2006 Op Lvg 8.3% 3.7% 2.9% n/m
• #1 global provider as measured by total treasury revenue
• Revenue growth of 12% (CAGR) since 2003
72 Source: Derived from company earnings reports

73. Achievement of Organic Growth Objectives will be
Supported by Strategic Capital Deployment
• Expand sales, fulfillment and servicing capabilities across all of
our client segments
• Strengthen international capabilities to ensure global
competence
• Significant investment in technology and platform
73

74. Expanded Distribution will Enable Client Acquisition
and Deeper Penetration
Sales Fulfillment Service
• Expand sales distribution by ~30%
• Institutionalize world class processes to ensure rapid revenue
realization and sustainable, superior service levels
• Enhance expertise and capabilities in strategic industry verticals
74

75. Strengthen International Capabilities to Ensure
Global Competence
International Capabilities are
Client International Activities Valued by Corporate Clients
U.S. Middle Market Companies BAC Share of Client Wallet by % of
Doing Business Internationally Client Treasury Activity Outside U.S.
42%
BAC Share of Client
40%
Treasury Wallet
87%
84% 33%
75%
2003 2005 2006 0-10% 10-50% >50%
ex-US ex-US ex-US
Source: BAC Survey of Middle Market CFOs
% Client Treasury Activity Outside U.S.
• Gaining international share drives more U.S. share
• 92% of our strategic investment has international relevance
75

76. Electronic Payment Trend Creates Unique Growth
Opportunity for Bank of America
Forecast US Industry
Transaction Growth Rates BAC Total Volume Trends
12%
80%
60% Electronic
40% Paper
20%
Image
2%
0%
July
July
Nov.
Nov.
May
May
Jan.
Mar.
Sept.
Jan.
Mar.
Sept.
Electronic Paper
2004-2009 CAGR
2005 2006
Source: McKinsey/Global Concepts
76

77. Investment in Technology Creates Opportunity to Seize
Share in Emerging Electronic Channels
BAC U.S. Paper Product BAC U.S. Electronic
Market Position Product Position
Rank Share Rank Share
Wholesale Lockbox 1 32% ACH Credit Origination 2 14%
Check Clearing 1 25% Fedwire 2 10%
Controlled Disbursements 1 23% Purchase Card 3 12%
Electronic Data
Acct Reconcilement 1 21% Interchange 3 12%
Internet Info Reporting 3 10%
ACH Debit Origination 5 6%
• Objective: grow share in electronic capabilities
• 40% of investment targeted to electronic capabilities
77 Source: Compiled from multiple industry publications

78. Global Treasury Services is Positioned for Growth
• Position of strength
• Organic growth opportunities are significant
• Accelerating investment in growth
78