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SEC: Bank Of America Registration For Countrywide ‘Effective’

Last Update: 5/29/2008 7:11:03 AM

DOW JONES NEWSWIRES

The Securities and Exchange Commission said Thursday it declared effective a
registration of 132.8 million shares of Bank Of America Corp. (BAC) to be issued
under the company’s proposed merger with Countrywide Financial Corp. (CFC).

Earlier this year, Bank of America agreed to purchase troubled mortgage lender
Countrywide valued at about $4 billion at the time of the announcement of the
deal.

The merger is an all-stock deal, with Countrywide shareholders set to receive
0.1822 share of Bank of America stock in exchange for each Countrywide share.
Hence the value of the merger consideration will change with the market price of
Bank of America common stock.

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