Bank of America Litigation

This case was brought on behalf of the shareholders of the former NationsBank Corporation ("NationsBank") and the former BankAmerica Corporation ("BankAmerica") to assert claims arising out of the merger of the two corporations on September 30, 1998 (the "Merger"). The Merger formed the corporation now known as Bank of America Corporation ("Bank of America").

Under the settlement, defendants will pay the total sum of $490 million, plus interest from March 6, 2002. Of this sum, $333.2 million, plus interest, will be paid to the two NationsBank Classes, and $156.8 this notice in Section III on page 2. The settlement amount computes to an average per share recovery of $0.34 per share to eligible members of the NationsBank Classes and $0.22 per share to eligible members of the BankAmerica Classes, prior to adjustment for non-participating hares. These average share amounts are calculated before deduction of attorneys' fees and expenses. NationsBank Class members who owned their shares as of the close of the merger on September 30, 1998, but who sold their shares before October 14, 1998, will receive a reduced recovery as to their sold shares. Bank- America Class members who purchased shares between October 1, 1998 and October 13, 1998, inclusive, and who sold those shares before October 14, 1998, will receive a reduced recovery as to their sold shares. Class members who fail to submit properly completed Claim Forms to the Claims Administrator by July 15, 2002 will t be eligible to participate in the recovery, unless the Court extends the time for filing a claim for good cause shown.

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For more information, we encourage you to visit the Bank of America Settlement Website and particularly the Bank of America FAQ section.

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