FOR IMMEDIATE RELEASE

July 8, 1999

Contact:   Bob Stickler 704-386-8465

BANK OF AMERICA COMPLETES STERLING OFFERING

London, July 8, 1999 - Bank of America Corporation announced today that it
has completed its previously announced sterling offering of 300 million
pounds ($474 million equivalent) in floating-rate notes distributed primarily
in Europe.

The five-year notes bear interest at the sterling London Interbank Offered
Rate (LIBOR) plus a margin of 3/16 percent per annum.  Interest is payable
quarterly on the 8th of January, April, July and October, beginning on
October 8, 1999.  The notes mature on July 8, 2004.

Bank of America International Limited was the lead manager of the offering.
Co-lead managers were Barclays Capital, Deutsche Bank, Lehman Brothers and
Merrill Lynch International, and co-managers were Royal Bank of Scotland plc
and Warburg Dillon Read.

The issue was not registered with the U.S. Securities and Exchange Commission
and was offered exclusively to investors outside the United States.  Proceeds
will be used for general corporate purposes.

Bank of America Corporation, with $614 billion in total assets, is the parent
of the largest bank in the United States.

                               www.bankofamerica.com