March 27, 2007

Approval of proposal by Bank of America Corporation

For immediate release

The Federal Reserve Board on Tuesday announced its approval of the proposal filed by Bank of America Corporation, Charlotte, North Carolina, to acquire U.S. Trust Corporation and its subsidiary bank, United States Trust Company, National Association, both in New York, New York.

Attached is the Board’s Order relating to this action.

Last Update: March 27, 2007