Ken Lewis, Bank of America Corp.'s chief executive officer and president, announced today that he has notified the Board of Directors of his decision to retire, effective December 31, 2009. The Board will continue ongoing planning to ensure his successor is selected by that date. Lewis will retire as CEO and as a director.

"Bank of America is well positioned to meet the continuing challenges of the economy and markets," said Lewis. "I am particularly heartened by the results that are emerging from the decisions and initiatives of the difficult past year-and-a-half."

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