Bank of America Focuses on 'Giving Back' with First-Ever NEXTEL Cup Race Dedicated to Volunteerism and Philanthropy

Bank of America Focuses on 'Giving Back' with First-Ever NEXTEL Cup Race Dedicated to Volunteerism and Philanthropy

Teams Up with Kasey Kahne and NASCAR Foundation to help spread message of civic service among fans

Company to award a series of charitable grants during race

DOVER, Del., June 1 /PRNewswire/ -- In demonstration of its belief that individuals and groups working together can make a positive impact in their communities, Bank of America today celebrated its June 4 race at Dover International Speedway (FX, 1:30 P.M. EDT) by launching a series of local volunteer and fundraising events throughout Delaware. The Neighborhood Excellence 400 presented by Bank of America marks the first time a sponsor has dedicated an entire NEXTEL Cup event, including the name of the race, to promoting volunteerism and philanthropy as a way of creating vibrant communities.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060309/CLTH041LOGO)

"Bank of America and the NASCAR community share a longstanding commitment to helping neighborhoods remain healthy and economically vibrant," said Andrew Plepler, president, Bank of America Charitable Foundation. "Through our sponsorship of the Neighborhood Excellence 400, we can demonstrate that commitment to creating positive change in our communities -- neighborhood by neighborhood."

As part of the Neighborhood Excellence 400, Bank of America is teaming up with NEXTEL Cup driver Kasey Kahne to help educate and energize NASCAR fans throughout the country about the importance of volunteering and the many opportunities to do so in their own communities. In January, Kahne was appointed to a two-year term on the President's Council on Service and Civic Participation and has been encouraging fellow drivers and members of the NASCAR community to get involved in their neighborhoods in any way they can.

"Since being named to the President's Council, it's been my mission to encourage fellow NASCAR drivers, sponsors and fans all across the country to get out in their communities and become more involved," said Kahne. "As a recognized philanthropic leader with a long history of creating positive change in our nation's communities, Bank of America has really stepped up by dedicating an entire race to promoting volunteerism and giving back."

The theme of the bank-sponsored race -- "neighborhood excellence" -- reflects Bank of America's national strategy under which it works with local leaders to identify and meet the most pressing needs of communities. In demonstration of that strategy, Bank of America has teamed up with NASCAR drivers and the NASCAR community to deploy local volunteer and fundraising projects throughout the NEXTEL Cup event. Activities include:

- Thursday, June 1 - Dozens of Team Bank of America volunteers will work
alongside NEXTEL Cup drivers Kasey Kahne and Scott Wimmer to complete
revitalization projects across the state. Projects will make
improvements to The Latin American Community Center in Wilmington and
The Shepherd Place, a homeless shelter serving men, women and children
in Dover.

- Thursday, June 1 - FOX Sports will host the Drive for Autism Research
Golf Tournament at the DuPont Country Club in Wilmington to raise funds
and awareness for the cause.

- Saturday, June 3 - The NASCAR Foundation will host the "NASCAR On Track
for Charity Fun Walk" at Dover International Speedway. The event will
begin at 6:30 PM, with walkers grouped according to driver/industry
charities that will benefit from funds raised.

- Sunday, June 4 - Prior to the Neighborhood Excellence 400,
representatives from Bank of America and NEXTEL Cup driver Kasey Kahne
will present $20,000 grants to:

- First State Community Action Agency, La Casita Program that works
with the Hispanic population on community development
- Children & Families First which provides a vast array of family
support services to three counties in Delaware
- Nehemiah Gateway Community Corporation which provides financial
literacy education and programs for low-to-moderate income
individuals and families

- Sunday, June 4 . The NASCAR Foundation will host 300 deserving children
from Communities in Schools of Delaware at the race. The Delaware
organization has existed for 14 years, and has championed the
connection of needed resources with area schools.

"One of the most important ways that we participate in the lives of our customers and communities is through sponsorships," said Ric Struthers, market president, Bank of America Wilmington. "By dedicating this race the Neighborhood Excellence 400, we can demonstrate our commitment to the growth and prosperity of neighborhoods throughout Delaware and others like them all across the country, as well as deepen our partnership with the NASCAR community."

Energizing NASCAR Fans

To energize NASCAR fans to get more involved in their communities, the NASCAR Foundation announced that it will launch the NASCAR Foundation Volunteer Network during the Neighborhood Excellence 400. The Network will serve as an online resource for fans to learn how to volunteer with their favorite NASCAR charity. The NASCAR Foundation will also host an online auction that will benefit various driver and motorsports industry charities. Items such as autographed helmets and VIP race experiences will appear on http://www.nascar.com/foundation from June 2-12. In support of the auction, Bank of America will match auction proceeds, up to $25,000, through the Bank of America Charitable Foundation.

Bank of America has long held the belief that a healthy community is a healthy place to do business. As a result, it has committed to creating real local impact across the United States through philanthropic investment, community development and volunteerism. In 2005, the Bank of America Charitable Foundation embarked on an unprecedented $1.5 billion philanthropic goal over the next 10 years. The bank has announced it will donate $200 million in 2006, making Bank of America one of the most generous corporate donors in the country. The company's $750 billion goal for community development lending and investing is one of the largest in the country, and delivers cities throughout the United States the power of its human and financial capital to turn communities into vibrant, desirable places to live, work and raise families. Through Team Bank of America, the company's worldwide volunteer program, bank associates contribute more than 650,000 hours each year to local causes that improve the quality of life in their communities.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 54 million consumer and small business relationships with more than 5,700 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than 19 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE:BAC) is listed on the New York Stock Exchange.

www.bankofamerica.com

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060309/CLTH041LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Bank of America

CONTACT: Joe Goode of Bank of America, +1-617-434-7314, or
joseph.l.goode@bankofamerica.com; or Kerry Slatkoff of Ketchum Sports Network,
+1-646-935-4184, or kerry.slatkoff@ketchum.com

Web site: http://www.bankofamerica.com/
http://www.nascar.com/foundation

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