China Construction Bank and Bank of America Announce Joint Donation to 2007 Special Olympics World Summer Games

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China Construction Bank and Bank of America Announce Joint Donation to 2007 Special Olympics World Summer Games

18th October, 2006

China Construction Bank (CCB) and Bank of America Foundation today announced that they will jointly support the 2007 Special Olympics World Summer Games scheduled for October 2-11, 2007 in Shanghai.

CCB's will make a contribution to Special Olympics in exchange for sponsorship rights and benefits associated with the 2007 World Summer Games. Bank of America will make an additional donation to Special Olympics to assist in funding the organization's mission. This joint commitment is the latest initiative in a strategic partnership between CCB and Bank of America that began in 2005.

This first joint partnership of a major event between CCB and Bank of America embodies the two companies' goals for social responsibility and community development.

"The reform and development of China Construction Bank rely on the support of the community and our customers," said CCB board of supervisors chairman Xie Duyang. "It is our mission to contribute back to society, shoulder social responsibilities and commit ourselves to programs that support education, culture, sports, arts and others."

"Bank of America is proud to partner with China Construction Bank on China's first Special Olympics," said Kenneth D. Lewis, Bank of America chairman and chief executive officer.

In connection with its donation to Special Olympics, China Construction Bank will receive media and advertising spots, marketing and promotional rights, signage and pageantry, and VIP access and hospitality.

"This generous support from both China Construction Bank and Bank of America will help to further the opportunities for our athletes to achieve their goals and for the Special Olympics movement to continue to create harmonious communities throughout the world," said Bruce Pasternack, Special Olympics President and CEO. "Involvement with Special Olympics and the 2007 World Games is a great example of corporations doing 'good business,' especially here in China where multinationals and local Chinese enterprises are looking for ways to differentiate themselves within the marketplace."

The 2007 Special Olympics World Summer Games will unite the world through sports, celebrating the abilities and accomplishments of people with intellectual disabilities, form a new global vision of acceptance and embrace the diversity of all individuals' abilities worldwide. World Games will mark the first time the World Summer Games will be held in Asia, and only the second time they will be held outside the United States. In addition to some 7,000 athletes, Special Olympics expects the 2007 World Summer Games to draw 40,000 volunteers, 3,500 event officials and thousands of families, volunteers, spectators and journalists from every continent. Special Olympics athletes of all ability levels will compete in 23 different Olympic-type sports including aquatics, athletics, badminton, basketball, football (soccer), tennis and volleyball.

About China Construction Bank

China Construction Bank was founded in 1954. In September 2004, CCB underwent a restructuring and founded the China Construction Bank Corporation. In October 2005, CCB was listed on the Hong Kong Stock Exchange Limited. CCB adheres to the operating principle of "customer-centric", provides domestic clients with comprehensive commercial bank services and products, and has been taking a leading position in business areas like infrastructure lending, bank card and residential mortgage lending. At present, CCB has an extensive service network in China. As of June 30, 2006, CCB had 13,847 branch outlets, 150 million active deposit relationships, and relationships with 99 of the top 100 enterprises in China. At present, CCB was ranked by market capitalization as a leading global commercial bank. CCB was incorporated as a constituent of Hang Seng China Enterprises Index and became the first H-share company to be included as a constituent stock of Hang Seng Index in September 2006. The bank was ranked top among PRC banks on the list of Tier-1 capital world banks by The Banker magazine in July 2006. It also ranked 65th in "The World's 2000 Largest Public Companies" by Forbes magazine in 2006. CCB's strategic vision is to be a world-leading commercial bank that provides the best customer services, maximizes shareholders' value and offers the best opportunities to its employees. Visit CCB at .

About Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 54 million consumer and small business relationships with more than 5,700 retail banking offices, nearly 17,000 ATMs and award-winning online banking with more than 19.8 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

About Special Olympics

Special Olympics is an international organization that changes lives by promoting understanding, acceptance and inclusion between people with and without intellectual disabilities. Through year-round sports training and athletic competition and other related programming for 2.25 million children and adults with intellectual disabilities in more than 150 countries, Special Olympics has created a model community that celebrates people's diverse gifts. Founded in 1968 by Eunice Kennedy Shriver, Special Olympics provides people with intellectual disabilities continuing opportunities to realize their potential, develop physical fitness, demonstrate courage and experience joy and friendship.

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