Bank of America Acquires LaSalle Bank

Ken LewisChairman, CEO and President

Joe PriceChief Financial Officer

Liam McGeePresident - Global Consumer &

Small Business Banking

David DarnellPresident - Commercial Lending

April 23, 2007

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Forward Looking StatementsThis presentation contains forward-looking statements, including statements about the financial conditions, results of operations and earnings outlook of Bank of America Corporation. The forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results or earnings to differ materially from such forward-looking statements include, among others, the following: 1) projected business increases following process changes and other investments are lower than expected; 2) competitive pressure among financial services companies increases significantly; 3) general economic conditions are less favorable than expected; 4) political conditions including the threat of future terrorist activity and related actions by the United States abroad may adversely affect the company’s businesses and economic conditions as a whole; 5) changes in the interest rate environment reduce interest margins and impact funding sources; 6) changes in foreign exchange rates increases exposure; 7) changes in market rates and prices may adversely impact the value of financial products; 8) legislation or regulatory environments, requirements or changes adversely affect the businesses in which the company is engaged; 9) changes in accounting standards, rules or interpretations, 10) litigation liabilities, including costs, expenses, settlements and judgments, may adversely affect the company or its businesses; 11) mergers and acquisitions and their integration into the company; and 12) decisions to downsize, sell or close units or otherwise change the business mix of any of the company. For further information regarding Bank of America Corporation, please read the Bank of America reports filed with the SEC and available at www.sec.gov.

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One time opportunity to capture leadership positions in 2 of the Top 10 markets in the US – the best economy in the world

• LaSalle, a well-positioned Midwest franchise

• Commercial bank with attractive retail growth opportunities

• Unmatched convenience offering for customers

• Opportunity for broadened product offerings and franchise extension

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• Top 20 US bank holding company – Assets of $113 billion (BAC $1.5 trillion) – Domestic deposits of $57 billion (BAC $599 billion domestic)

• 15th largest US deposit based institution• 47% Retail ($27 billion)

– Approximately 15,000 employees• Commercial Banking

– 17,000 clients (BAC 140,000 clients)– Middle Market Lending; Asset-based lending; Asset securitization; Leasing; Real estate

finance– 40 offices

• Retail presence– 1.3 million retail households (BAC 55 million households)– 96,000 small business relationships– 36,000 wealth management clients (BAC approximately 800,000)– 411 well-located retail branches– Approximately 1,500 ATMs

Overview - LaSalle

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Unique Opportunity

• Gain immediate leadership positions in 2 of the top 10 MSAs

• Offer broader product suite and convenience to consumer customer base

• Better leverage retail distribution network to drive consumer growth

• Immediate access to Chicago wealth market

• Provide broader capabilities and financial solutions to commercial customers

• Proven track record of integrations

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• Strong relationship driven commercial franchise• Primary Services

– Middle market lending– Commercial real estate– Asset-based lending– Leasing

• Approximately 17,000 clients ranging from $10mm to $5bb in revenues• General commercial banking coverage and 12 industry specialty

groups• Particular strength in home markets of Chicago and Eastern Michigan

LaSalle Historic Strength was Commercial Banking

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Opportunities in Commercial Banking

• Treasury Services– LaSalle – 14% deposit to loan ratio– Bank of America – 54% deposit to loan ratio

• Client Management Process– Deepen relationships– Products per relationship– Investment banking/International

• Improve efficiency in line with Bank of America– Bank of America (36%) vs LaSalle (55%)

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Expanding the Bank of America Franchise

Branches ATMs

Bank of America 5,737 17,117

LaSalle 411 1,500

Combined 6,148 18,717

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Source: Proximity based on official Census Bureau county (MSA) estimates released March 2007.

Leadership Position in 3rd and 10th Largest Markets

Top 10 Markets - Based on 2006 PopulationMarkets July 2006

New York 18.8 MMLos Angeles 13.0 MMChicago 9.5 MMDallas 6.0 MMPhiladelphia 5.8 MMHouston 5.5 MMMiami 5.5 MMWashington DC 5.3 MMAtlanta 5.1 MMDetroit 4.5 MM

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LaSalle Retail Bank

LaSalle Retail Bank

Chicago DetroitAll Other Michigan Total

Consumer Households(1) (in 000s) 408 344 518 1,270

Small Business HHs (in 000s) 94

Wealth Mgt / Premier HHs (in 000s) 36

Banking Centers 141 160 110 411

ATMs (1) 450 632 418 1,500

Retail Deposits(1) ($ in B) $14.0 $5.2 $7.8 $27.0

Retail Deposit Share 9.3% 8.7% 17.3% 10.6%

% of Earnings (FY 2006) 63% 15% 22%

(1) Estimated

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LaSalle Franchise

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Detroit - Market Overview

Detroit Market• 10th largest Market

• 1.7 MM Households

• 1.5% Household growth

• $71K average Household Income

Market Opportunity• $60 billion in Retail Balances

• $27 billion in 1st Mortgage Originations

• $3 billion in Home Equity Line of Credit Originations

• $11 billion in Card oustanding balances* Full Year 2006

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Chicago - Market Overview

Bank of AmericaLaSalle

Chicago Market• 3rd largest Market

• 3.5 MM Households

• 3.6% Household growth

• $77K average Household Income

Market Opportunity• $150 billion in Retail Balances

• $94 billion in 1st Mortgage Originations

• $14 billion in Home Equity Line of Credit Originations

• $25 billion in Card oustanding balances

* Full Year 2006

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New Bank of America - Chicago

(1) BAC Deposit HHs Only

BAC Chicago

LaSalle Chicago

New BAC Chicago

Consumer Households(1) (in 000s) 150 408 558

Banking Centers 56 141 197

ATMs 231 450 681

Retail Deposits ($ in B) $1.7 $14.0 $15.7

Retail Deposit Share 1.1% 9.3% 10.4%

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Market Leadership – Platform for Growth

1 Source: June 2006 FDIC /(MSA defined geographies) & SNL for midwest MSA data adjusted to reflect retail balances

Retail Deposit Balance Share1

Ret

ail B

alan

ce S

hare

1

27%25%

24% 24% 23% 23% 23% 22%

17% 17% 16%14%

9%

4%

Seattle

San Fran

Baltim

ore

Boston

Phoenix LA

Miami

Dallas DC

San D

iego

Atlanta

Houston

New York

PhillyChica

go

10% 9%

Detroit

Bank of America LaSalle

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How We Will Grow the LaSalle Franchise• Bank of America Brand

– Highest Unaided Awareness– Unparallel Customer Convenience

• Largest Banking Center Distribution• Largest ATM Network• #1 Online Bank

• Bank of America National Retail Operating Model– Customer Centric Culture– Consistent Sales, Service and Operating Processes– Performance Management and Accountability

• Bank of America Broad and Innovative Product Set– Keep the Change– No Fee Mortgage Plus– Affinity Products– Business 24/7

• Proven Track Record of Execution and Growth– Fleet Northeast Success

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Proven Track Record – Legacy Fleet Sales Productivity

Legacy Fleet Sales per Day per Banking Center

6.8

8.4 8.5

11.2

-

2

4

6

8

10

12

2003 2004 2005 2006

Sale

s pe

r Day

per

Ban

king

Cen

ter

CAGR – 18%

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2006 Financial Highlights$ in billions

LaSalle BAC CombinedManaged revenue 3.8$ 77.6$ 81.4$

Expenses 2.5 35.6 38.1

Net income 0.7 21.1 21.8

Managed Loans 62.0 818.0 880.0

Total Managed Assets 113.0 1,571.1 1,684.1

Domestic Deposits 57.0 598.0 655.0

Financial Highlights

1

1 Earnings from acquired businesses

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Terms of Transaction

Transaction: 100% of LaSalle Bank

Price: $ 21 Billion

Excess Capital to BAC 5 Billion

Transaction Value $ 16 Billion

Financing: Cash

Due Diligence: Completed

Expected Closing: Late 4Q07 – early 1Q08

BAC Approvals: Normal regulatory

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Transaction Summary

• Internal Rate of Return of 17% • Shareholder Value Added

– Breakeven in Year 2• Immediately accretive to EPS

– 2% accretive in Year 1– 5% accretive with fully phased in synergies

• Day 1 Capital ratio projections– Regulatory Tier 1 - 7.5% (3/31/07 - 8.57%)– Tangible equity ratio - 3.8% (3/31/07 - 4.20%)

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Price in Line with Recent Deals

Price / 2007 Earnings 21.3 x 16.3 x

Price / Adj. 2007 Earnings 2 10.2 x N/A

Price / Book Value 2.2 x 2.6 x

Price / Tang. Book Value 3.4 x 3.7 x

Premium / Deposits 23 % 33 %

1 BAS analysis of recent deals2 2006 earnings from acquired businesses assumed growth rate of 8.6% in 2007 with fully-phased in after-tax cost savings of $800mm

Comparable Pricing Measure LaSalle Deals1

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Financial Assumptions

• Transaction expected to close in fourth quarter 2007 or early 2008• Bring LaSalle business efficiency ratios in line with BAC respective

businesses ($1.250 billion pre-tax)– 50% realized in Year 1 – Fully realized in Year 2

• Revenue opportunities drive net improvement $250 mm (pre-tax) – 10% in Year 1, 30% Year 2, 70% Year 3, 100% Year 4

• Higher intangible amortization of approximately $40 million• After-tax restructuring charge of $800 million

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Modeling and Internal Rate of Return

2007 2008 2009 2010 2011 2012

Total Consideration (21,000) Excess Capital 5,000 Merger Charge (800) Cash Earnings 800 875 950 1,025 $1,100Cost Savings - After Tax 400 800 800 800 800 Revenue driven synergies 20 50 100 160 175 Cash Flows 420 1,725 1,850 1,985 2,075 Terminal Value at 11.8x earnings 24,485 Total Cash Flows (16,000) 420 1,725 1,850 1,985 26,560

IRR 17%

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One time opportunity to capture leadership positions in 2 of the Top 10 markets in the US – the best economy in the world

• LaSalle, a well-positioned Midwest franchise

• Commercial bank with attractive retail growth opportunities

• Unmatched convenience offering for customers

• Opportunity for broadened product offerings and franchise extension