THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Bank of America Corporation (BAC)

3/20/2006 Proxy Information

A number of the Corporation’s directors and executive officers and certain business organizations and individuals associated with them have been customers of the Corporation’s banking subsidiaries. All extensions of credit to the foregoing persons have been made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time in comparable transactions with others and did not involve more than the normal risk of collectibility or present other unfavorable features.

In the ordinary course of business, the Corporation also performs investment banking, financial advisory and other services for entities with which its directors are affiliated.

In the opinion of management, each of the following transactions was on terms no more or less favorable than those prevailing at the time for comparable transactions with unaffiliated parties.

Mr. Countryman’s daughter is one of 351 partners in a law firm that has regularly provided legal services to the Corporation and its predecessors for over 100 years. In 2005, the law firm received approximately $18.8 million for services provided to the Corporation and its subsidiaries, a portion of which was paid by customers of the Corporation. She does not serve on the management committee of the law firm and the law firm does not consider her to be one of its executive officers.

The Corporation leases space for banking centers from subsidiaries of Highwoods Properties, Inc., a company of which Mr. Sloan is Chairman. In 2005, the Corporation paid rental and related charges of approximately $2,300,000 for this space. Mr. Sloan is neither an executive officer nor an employee of Highwoods.

Audit Committee Report

The Audit Committee currently consists of five members of the Board, each of whom is independent under the NYSE listing standards, SEC rules and regulations applicable to audit committees. The Board has adopted, and annually reviews, an Audit Committee charter. The charter specifies the scope of the Audit Committee’s responsibilities and how it carries out those responsibilities.

The Audit Committee has reviewed and discussed the Corporation’s December 31, 2005 audited financial statements with management and with PricewaterhouseCoopers LLP, the Corporation’s independent registered public accounting firm (“PwC”). The Audit Committee also has discussed with PwC the matters required to be discussed by Statement on Auditing Standards No. 61 (Communication with Audit Committees), as amended by Statement on Auditing Standards No. 90 (Audit Committee Communications).

The Audit Committee also has received from PwC the written disclosures and the letter required by Independence Standards Board Standard No. 1 (Independence Discussions with Audit Committees) and has discussed with PwC their independence from the Corporation. The Audit Committee also has considered whether the provision of non-audit services to the Corporation is compatible with PwC’s independence.

Based on the review and discussions referred to above, the Audit Committee recommended to the Board that the December 31, 2005 audited financial statements be included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2005.

Mr. Gifford served as Chairman of Bank of America Corporation from April 2004 thru January 2005. He had served as Chairman and Chief Executive Officer of FleetBoston Financial Corporation from December 2002 until the company merged with Bank of America in April 2004. He was President and Chief Executive Officer of FleetBoston from 2001 through December 2002, and President and Chief Operating Officer from 1999 through 2001. Mr. Gifford served as Chairman and Chief Executive Officer of BankBoston from 1997 to 1999, Chief Executive Officer from 1996 to 1997 and Chairman, President and Chief Executive Officer from 1995 to 1996.

3/28/2005 Proxy Information

A number of the Corporation’s directors and executive officers and certain business organizations and individuals associated with them have been customers of the Corporation’s banking subsidiaries. All extensions of credit to the foregoing persons have been made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time in comparable transactions with others and did not involve more than the normal risk of collectibility or present other unfavorable features.

In the ordinary course of business, the Corporation also performs investment banking, financial advisory and other services for entities with which its directors are affiliated.

In the opinion of management, each of the following transactions was on terms no more or less favorable than those prevailing at the time for comparable transactions with unaffiliated parties.

Until December 31, 2004, Ms. Brinkley’s spouse was one of 47 members of a law firm that has regularly provided legal services to the Corporation for over 40 years. In 2004, the law firm received approximately $9,303,000 for services provided to the Corporation and its subsidiaries, the majority of which was paid by customers of the Corporation. Effective December 31, 2004, Ms. Brinkley’s spouse withdrew from membership in the firm, although he remained as counsel to the firm during January of 2005. As of February 1, 2005, Ms. Brinkley’s spouse is no longer affiliated with the law firm.

Mr. Countryman’s daughter is one of 341 partners in a law firm that has regularly provided legal services to the Corporation and its predecessors for over 100 years. In 2004, the law firm received approximately $23,300,000 for services provided to the Corporation and its subsidiaries, a portion of which was paid by customers of the Corporation.

The Corporation leases space for banking centers from subsidiaries of Highwoods Properties, Inc., a company of which Mr. Sloan is Chairman. In 2004, the Corporation paid rental and related charges of approximately $2,985,000 for these centers. Mr. Sloan is neither an executive officer nor an employee of Highwoods

Mr. Gifford served as Chairman of Bank of America Corporation from April 2004 thru January 2005. He had served as Chairman and Chief Executive Officer of FleetBoston Financial Corporation from December 2002 until the company merged with Bank of America in April 2004. He was President and Chief Executive Officer of FleetBoston from 2001 through December 2002, and President and Chief Operating Officer from 1999 through 2001. Mr. Gifford served as Chairman and Chief Executive Officer of BankBoston from 1997 to 1999, Chief Executive Officer from 1996 to 1997 and Chairman, President and Chief Executive Officer from 1995 to 1996.

4/23/2004 Proxy Information

A number of the Corporation’s directors and executive officers and certain business organizations and individuals associated with them have been customers of the Corporation’s banking subsidiaries. All extensions of credit to the foregoing persons have been made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time in comparable transactions with others and did not involve more than the normal risk of collectibility or present other unfavorable features.

In the ordinary course of business, the Corporation also performs investment banking, financial advisory and other services for entities with which its directors are affiliated.

In the opinion of management, each of the following transactions was on terms no more or less favorable than those prevailing at the time for comparable transactions with unaffiliated parties.

Ms. Brinkley’s spouse is a partner in a law firm that has regularly provided legal services to the Corporation for over 40 years. In 2003, the law firm received approximately $8,700,000 for services provided to the Corporation and its subsidiaries, the majority of which was paid by customers of the Corporation. As of December 31, 2003, Ms. Brinkley’s spouse was one of 46 partners in this law firm.

The Corporation leases space for banking centers from subsidiaries of Highwoods Properties, Inc., a company of which Mr. Sloan is Chairman. In 2003, the Corporation paid rental and related charges of approximately $3,050,000 for these centers. Mr. Sloan is neither an executive officer nor an employee of Highwoods.

3/27/2003 Proxy Information

A number of the Corporation’s directors and executive officers and certain business organizations and individuals associated with them have been customers of the Corporation’s banking subsidiaries. All extensions of credit to the foregoing persons have been made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time in comparable transactions with others and did not involve more than the normal risk of collectibility or present other unfavorable features.

In the ordinary course of business, the Corporation also performs investment banking, financial advisory and other services for entities with which its directors are affiliated.

In the opinion of management, each of the following transactions was on terms no more or less favorable than those prevailing at the time for comparable transactions with unaffiliated parties.

Ms. Brinkley’s spouse is a partner in a law firm that has regularly provided legal services to the Corporation for over 40 years. In 2002, the law firm received approximately $6,900,000 for services provided to the Corporation and its subsidiaries, the majority of which was paid by customers of the Corporation. As of December 31, 2002, Ms. Brinkley’s spouse was one of 46 partners in this law firm.

The Corporation leases space for 11 banking centers from subsidiaries of Highwoods Properties, Inc., a company of which Mr. Sloan is Chairman. In 2002, the Corporation paid rental and related charges of approximately $2,804,000 for these centers.

The Corporation leases space for banking-related activities in Atlanta from a company owned by Mr. Williams. In 2002, the Corporation paid rental of approximately $831,000 for this space.

Ms. Brinkley served as a director of Bassett Furniture Industries, Inc., a corporation of which Mr. Fulton is Chairman, until Bassett’s March 26, 2002 annual meeting at which time she did not stand for reelection.