Banc of America Mortgage Securities $881MM Series 2003-A Rated By Fitch.

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 29, 2003

Banc of America Mortgage Securities, Inc., (BoAMSI) series 2003-A mortgage pass-through certificates, classes 1-A-1, 1-A-R, 1-A-MR, 1-A-LR; 2-A-1 through 2-A-9, 2-A-IO; 3-A-1; 4-A-1; and A-P (senior certificates, $858,663,296)are rated 'AAA' by Fitch Ratings. In addition, Fitch rates class B-1 ($11,038,000) 'AA', class B-2 ($5,297,000) 'A', class B-3 ($3,090,000) 'BBB', class B-4 ($1,765,000) 'BB' and class B-5 ($1,324,000) 'B'.

The 'AAA' rating on the senior certificates reflects the 2.75% subordination provided by the 1.25% class B-1, the 0.60% class B-2, the 0.35% class B-3, the 0.20% privately offered class B-4, the 0.15% privately offered class B-5, and the 0.20% privately offered class B-6 (which is not rated by Fitch). Classes B-1, B-2, B-3, B-4, and B-5 are rated 'AA', 'A', 'BBB', 'BB', and 'B', respectively, based on their respective subordination.

The ratings also reflect the quality of the underlying mortgage collateral, the capabilities of Bank of America Mortgage, Inc. as servicer (rated 'RPS1' by Fitch), and Fitch's confidence in the integrity of the legal and financial structure of the transaction.

This transaction has a unique structural aspect relating to servicing compensation. Traditionally, servicers of prime-credit mortgage loans receive a monthly servicing fee equal to a rate of 0.25% per annum, or a higher amount for hybrid adjustable-rate mortgage loans (ARMs), of the outstanding principal balance of the mortgage loans. Bank of America, as servicer in this transaction, will receive an equivalent value of 0.375% per annum for group 1, and 0.25% per annum for groups 2, 3 and 4 on a monthly basis but in two separate components. Monthly servicing compensation will equal a rate of 0.05% per annum. The remaining 0.325% per annum for group 1 and 0.20% per annum for groups 2, 3 and 4 will be paid through an interest-only certificate. The class SES certificates are unrated certificates that are paid prior to any other certificates, including the 'AAA'-rated certificates.

The monthly servicing fee of 0.05% per annum and the class SES interest-only certificates will be available to any successor servicer in the event Bank of America resigns or is terminated as servicer.

The transaction is secured by four pools of mortgage loans. The groups consist of fully amortizing, adjustable-rate mortgage loans that provide for a fixed interest rate during an initial period. Thereafter, the interest rate will adjust on an annual basis based of an index plus a gross margin. The four loan groups are cross-collateralized. The class A-PO consists of two separate components that are not severable.

Group 1 consists of 3/1 hybrid ARMs. After the initial fixed interest rate period of three years, the interest rate will adjust annually based of the One-Year LIBOR index plus a gross margin. The group has an aggregate principal balance of approximately $116,159,932 as of the cut-off date and a weighted average remaining term to maturity of 359 months. The weighted average original loan-to-value ratio (OLTV) for the mortgage loans is approximately 66.74%. The weighted average FICO credit score for the group is 737. The state that represents the largest portion of mortgage loans is CA (65.52%), all other states represent less than 5% of the outstanding balance of the pool.

Group 2 consists of 5/1 hybrid ARMs. After the initial fixed interest rate period of five years, the interest rate will adjust annually based of the One-Year LIBOR index plus a gross margin. The group has an aggregate principal balance of approximately $581,430,162 as of the cut-off date and a weighted average remaining term to maturity of 356 months. The weighted average OLTV for the mortgage loans is approximately 65.56%. The weighted average FICO credit score for the group is 738. The state that represents the largest portion of mortgage loans is CA (70.61%), all other states represent less than 5% of the outstanding balance of the pool.

Group 3 consists of Net 5 hybrid ARMs. After the initial fixed interest rate period of five years, the interest rate will adjust annually based of the One-Year LIBOR index plus a gross margin. All of the mortgage loans in the group require interest-only payments until the month of the first adjustment date. The group has an aggregate principal balance of approximately $120,580,599 as of the cut-off date and a weighted average remaining term to maturity of 356 months. The weighted average OLTV for the mortgage loans is approximately 58.64%. The weighted average FICO credit score for the group is 736. The states that represent the largest portion of mortgage loans are CA (69.26%) and FL (9.13%). All other states represent less than 5% of the outstanding balance of the pool.

Group 4 consists of 7/1 hybrid ARMs. After the initial fixed interest rate period of seven years, the interest rate will adjust annually based of the One-Year LIBOR index plus a gross margin. The group has an aggregate principal balance of approximately $64,775,694 as of the cut-off date and a weighted average remaining term to maturity of 358 months. The weighted average OLTV for the mortgage loans is approximately 62.42%. The weighted average FICO credit score for the group is 743. The states that represent the largest portion of mortgage loans are CA (60.46%), and GA (5.84%). All other states represent less than 5% of the outstanding balance of the pool.

Approximately 1.12%, 2.30%, 3.96%, and 5.84% of the mortgage loans in groups 1, 2, 3, and 4, respectively, are secured by properties located in the State of Georgia, none of which are covered under the Georgia Fair Lending Act (GFLA), effective as of October 2002. For additional information on GFLA, please see the press release issued Dec. 24, 2002 entitled 'Fitch Ratings Comments on Recent Predatory Lending Legislation', available on the Fitch Ratings web site at 'www.fitchratings.com'.

Banc of America Mortgage Securities, Inc. deposited the loans in the trust, which issued the certificates, representing undivided beneficial ownership in the trust. For federal income tax purposes, elections will be made to treat the trust as three separate real estate mortgage investment conduits (REMICs). Wells Fargo Bank Minnesota, National Association will act as trustee.