2004 Annual Report: Four Business Lines Partner to Deliver the Whole Bank

Four Business Lines Partner to Deliver the Whole Bank

($ in billions) Revenue* Net Income

Global Capital Markets and Investment Banking (Formerly Global Corporate and Investment Banking) Global Capital Markets and Investment Banking is an integrated corporate and investment bank that provides issuer clients with innovative, comprehensive capital-raising solutions and advisory services, as well as traditional bank deposit and loan products, cash management and payment services. Investor clients are served by strong equity and debt research, sales and trading capabilities. All clients benefit from extensive derivative and other risk-management products. Through offices in 35 countries, Global Capital Markets and Investment Banking serves domestic and international corporations, including most of the Fortune 1000; institutional investors; financial institutions; and government entities. Many of the company’s services to corporate and institutional clients are provided through its U.S. and U.K. subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited.

($ in billions) Revenue* Net Income *Fully taxable-equivalent basis

Global Wealth and Investment Management (Formerly Wealth and Investment Management) Global Wealth and Investment Management delivers investment services shaped by advice and guidance to more than 1.8 million individual and institutional clients located across the United States and throughout the world. It includes The Private Bank at Bank of America, which provides integrated credit, deposit, investment and trust services to more high-net-worth clients than any other bank in the United States, and Premier Banking, which delivers comprehensive financial solutions shaped by personal advice to nearly 606,000 affluent client relationships. It also includes the fast-growing Banc of America Investment Services, Inc., brokerage with more than 2,100 financial advisors, and Columbia Management Group, one of the world’s largest asset managers and the provider of proprietary asset management products to retail and institutional investors. Global Wealth and Investment Management has $708.4 billion in client assets, including $451.5 billion in assets under management, with total average deposits of $83 billion and average loans of $44 billion.