Bank of America Launches Comprehensive New HomeBanking Service in Arizona.

PHOENIX--(BUSINESS WIRE)--Aug. 18, 1997--

Free Managing Your Money Software Available to Arizona 

Customers Until Oct. 31

Bank of America Monday announced that it has launched its HomeBanking service throughout Arizona, bringing the 24-hour ease and convenience of online PC banking to the state's consumers.

HomeBanking allows customers to access their Bank of America accounts anytime day or night using BofA's customized version of Managing Your Money(R) software, a popular personal financial management program.

With HomeBanking, personal checking account customers with a Windows-based PC and modem can get account information, check balances, verify when checks have cleared, transfer funds between BofA accounts, pay bills online, and pre-schedule bill payments and transfers up to a year in advance.

Customers can pay virtually anyone with this service -- from their mortgage, credit card and utility company to their neighborhood dentist or daycare provider. Now paying bills will take minutes, not hours.

"At BofA, we're committed to giving our customers the tools they need to do their banking when, where and how they want," said Kathy Munro, president of Bank of America in Arizona and manager of the bank's Southwest Region retail and business banking network. "We're very excited about introducing our new HomeBanking service here in Arizona.

"It's going to provide our customers throughout the state with a whole new level of banking convenience -- giving them the freedom to pay bills and manage their personal finances from one easy-to-use, central location on their personal computers."

In addition to account access and bill payment features, BofA's HomeBanking offers Arizona customers many other convenient tools. A built-in e-mail feature enables customers to send comments or questions to Bank of America's HomeBanking customer service representatives 24 hours a day, seven days a week.

Plus, customers can use the Managing Your Money software to create budgets, track investments, and build reports and graphs that can be printed for quick reference.

Bank of America customers in Arizona can enjoy the basic HomeBanking service free of charge, allowing them to link as many BofA checking, savings and money market accounts to HomeBanking as they like, view account balances, see what checks have cleared and which deposits have posted, and transfer money between accounts.

Arizona customers can add HomeBanking's Bill Payment option for a monthly fee of $5.95 for unlimited bill paying -- about the price of a book of stamps. Plus, during this introductory period, customers who sign up for HomeBanking with Bill Payment will receive the first three months free. For customers with BofA Prima(R) checking accounts, Bill Payment is free.

Customers who take advantage of HomeBanking's Bill Payment feature will also receive another convenience service absolutely free: Pay By Phone. When customers are away from their computer, with Pay By Phone, they can still pay their bills and check their account balances quickly and easily over the telephone. Pay By Phone is a $3.95 monthly value.

As part of its introduction of HomeBanking to Arizona, Bank of America is also offering free copies of its customized Managing Your Money software until Oct. 31, 1997. (A $4 shipping/handling charge and applicable taxes will be applied to all orders for the free software.)

After Oct. 31, the customized software can be ordered for $9.95, a 50 percent savings off the suggested retail price of $19.95.

For more information about HomeBanking or to sign up for the service, customers can call 1-800-363-BOFA (1-800-363-2632) or stop by a Bank of America branch to pick up an enrollment form. Customers can mail or fax in their completed signup forms at no charge to them.

Bank of America operates 150 branches throughout Arizona and over 2,000 across 11 states. The bank has more than 450 Versateller(R) ATMs in Arizona and over 7,000 nationwide. At the end of second quarter 1997, BankAmerica (NYSE:BAC) reported assets of over $258 billion and deposits of over $173 billion.

CONTACT: Bank of America, Phoenix

Dave Howell, 602/594-6506