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Bank of America Launches 'Advantage for Seniors'; Targets Over-55 Market With Innovative Products, Services And Financial Education Programs.

CHARLOTTE, N.C. -- The over-55 consumer group is the fastest growing demographic in the United States. In order to meet the particular needs of these customers in an ever changing and challenging financial environment, Bank of America is updating the "Advantage for Seniors" program.

A campaign embodying the slogan, "Enjoy Today, Protect Tomorrow," launched Advantage for Seniors with a combination of checking and new product innovations to deliver to the pre-retiree and retiree consumer markets what they most desire: value, security and control.

"The baby boomer generation is entering its senior years and creating an entirely new class of financial consumers," said Liam McGee, President, Bank of America National Consumer Banking. "We are updating the Advantage for Seniors program to address the primary issues important to these customers through a combination of innovative products and services, including free banking services, increased security and protection, financial education and world-class customer service."

Consumer research conducted by Bank of America revealed that customers in the 55- and- over age group have specific financial and educational needs when it comes to banking choices and financial planning. Advantage for Seniors addresses these points with:
 * Free banking services and financial value, preferred deposit and loan
 rates for Advantage for Seniors account holders, plus bonus rates for
 customers that take advantage of certificate of deposit (CD) laddering,
 including penalty-free early withdrawals of up to $2,500 on CDs.
 * Total Security Protection(TM) on Bank of America consumer Credit and
 Check Cards that provides PhotoSecurity(R), Bank of America's Privacy
 Policy and more.
 * Financial education, beginning with the introduction of the "In Good
 Wealth" speaker series. The inaugural session featured Jean Chatzky,
 guest financial expert of NBC's Today.
 * Excellent customer service, leveraging the Bank of America Spirit.

Developing financial solutions for customers 55 and over, Bank of America recently launched an innovative CD laddering calculator available at Featured in the Wall Street Journal, the ladder shows how CD customers can increase their earning potential with more frequent access to part of their funds. Over the last several months, personal bankers have used this tool to help customers focus on earnings potential.

Additionally, to help increase financial literacy among those in the 55- and-over demographic, Bank of America introduced the "In Good Wealth" seminar series. The first speaker was Jean Chatzky, guest financial expert of NBC's Today, editor at large for Money magazine, USA Weekend and best-selling author of "Talking Money with Jean Chatzky: Getting Ahead with Your Money Without Losing Control of Your Life."

The seminar series was broadcast in multiple locations across Florida. Participating customers were able to ask Chatzky questions during a live Q&A session following the seminar. Advantage for Seniors customers can expect similar education experiences in the future.

"Advantage for Seniors does what Bank of America does best - meeting, then exceeding our customer's expectations," said Cathy Kenworthy, Consumer Deposit Products executive. "As an economic group, the over-55 market will soon dominate the marketplace. We are working to continually anticipate their needs by designing programs that address their specific financial concerns."

About Bank of America

One of the world's leading financial services companies, Bank of America is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose through the nation's largest financial services network, including approximately 4,400 domestic offices and 13,000 ATMs, as well as 30 international offices serving clients in more than 150 countries, and an Internet Web site that provides online banking access to 4 million active users, more than any other bank.

Bank of America stock (ticker: BAC) is listed on the New York, Pacific and London stock exchanges. The company's Web site is News, speeches and other corporate information may be found at

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CONTACT: Gillian Breidenbach of Bank of America Corporation, +1-214-209-3122, or e-mail,

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Publication:PR Newswire
Date:Nov 21, 2002
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