"This is the first and largest package of environmental grants Bank of America has made here in California as part of its new Environmental Initiative," Janet Lamkin, President of Bank of America California, said. "It grew out of our working relationships with Mayor Sanders and local environmental organizations, and it represents a huge investment in San Diego and particularly in the Mayor's efforts to make this the greenest city in the world."

"The environment is the most precious gift we leave for our children. We thank Bank of America for recognizing the leadership that the City of San Diego and local nonprofit organizations are taking in the area of environmental sustainability, and supporting our efforts to create a sustainable economy," said Mayor Sanders. "With public-private partnerships like this one, San Diego can -- and will -- become a globally recognized cleantech business leader."

Bank of America has a legacy of environmental leadership dating back two decades, when it began implementing an environmental focus to its own operations and business practices. For example, it does not finance projects that would destroy primary moist tropical rainforests, certain endangered forests or companies involved in illegal logging. Internally, the company reduced paper usage per associate by 40 percent, and set aggressive, voluntary goals to reduce greenhouse gas emissions across the company nine percent through the reduction of its energy consumption. Bank of America also gives its associates $3,000 to buy a hybrid car -- a program piloted in Southern California.

Today, the company is building what is expected to be the world's most environmentally-sound sky scraper in Manhattan, and recently opened its greenest retail bank branch ever in Southern California, built to meet the highest LEED Platinum green-built standards.

The $20 billion environmental initiative announced in March 2007 encourages development of environmentally sustainable business practices through lending, investing, philanthropy and the creation of new products and services. The first significant investments under this plan were in California, from outfitting the largest solar K-12 school program in the nation, to preserving redwood forests.

More information on Bank of America's environmental efforts can be found at http://www.bankofamerica.com/environment.

Bank of America Corporate Philanthropy

Building on a long-standing tradition of investing in the communities it serves, Bank of America is in its fourth year of achieving an unprecedented 10-year goal to donate $1.5 billion to nonprofit organizations engaged in improving the health and vitality of their neighborhoods. Funded by Bank of America, the Bank of America Charitable Foundation will give more than $225 million in 2008, making the bank the most generous financial institution in the world and the second largest donor of all U.S. corporations in cash contributions. Bank of America approaches giving through a national strategy called "neighborhood excellence" under which it works with local leaders to identify and meet the most pressing needs of individual communities. Through Team Bank of America, bank associate volunteers contributed more than 650,000 hours in 2007 to enhance the quality of life in their communities nationwide. For more information about Bank of America Corporate Philanthropy, please visit http://www.bankofamerica.com/foundation.