BANK OF BOSTON INCREASES COMMON DIVIDEND BY 37 PERCENT TO
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              37 CENTS PER SHARE AND DECLARES PREFERRED DIVIDENDS
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     BOSTON, MA, July 27, 1995 - Bank of Boston Corporation (NYSE:BKB) reported
that its Board of Directors today approved an increase in its quarterly dividend
on the Corporation's common stock to 37 cents from 27 cents per share.  The
dividend is payable August 25, 1995 to stockholders of record on August 7, 1995.

     Bank of Boston Chairman and Chief Executive Officer Ira Stepanian said,
"Our financial performance continues to be quite strong with second quarter
earnings exceeding the prior year's levels by over 40 percent.  The significant
increase in our common dividend demonstrates our ongoing commitment to improve
shareholder returns.  This step also brings our payout ratio more in line with
our peer group average."

     Separately, the Board declared quarterly dividends on its five outstanding
series of preferred stock as follows: $.76 per share for Series A, $.76 per
share for Series B, $1.39 per share for Series C, $.5375 per depositary share
representing Series E, and $.49219 per depositary share representing Series F.
These dividends are payable on September 15, 1995 to stockholders of record on
August 15, 1995.  The dividend rates on the adjustable rate preferred stocks are
6.00% for Series A, 6.00% for Series B and 5.50% for Series C.

     Bank of Boston Corporation, with assets of $45.3 billion as of June 30,
1995, is New England's only global bank. The Corporation and its subsidiaries
provide a broad range of financial services to individual, corporate,
institutional and governmental customers, as well as to other banks. The
Corporation's common and preferred stocks are listed on the New York and Boston
stock exchanges.

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