ERAJ SHIRVANI NEW CHAIRMAN OF ISDA

VIENNA, Wednesday, April 16, 2008 – The Chairman of the International Swaps and Derivatives Association, Inc. (ISDA), Jonathan Moulds, President, Europe, the Middle East, Africa (EMEA) and Asia, Bank of America today announced that the ISDA Board will elect Eraj Shirvani, a Managing Director and Head of European Credit and European and Asia Pacific Credit Sales and Trading at Credit Suisse, to succeed him as Chairman. Mr Shirvani will be elected with immediate effect on Thursday, April 17, at a regularly scheduled meeting of the ISDA Board of Directors at the Association’s 23^rd Annual General Meeting in Vienna.

Mr Moulds has chaired the ISDA Board since November 2004 and has been a Board member since 1998. Since he joined the Board, Mr Moulds has overseen the growth of the Association from 350 members in 35 countries on five continents to over 825 members in 55 countries on six continents as the derivatives industry has grown to represent a global notional value of over $454 trillion.

Commenting on the appointment, Mr Moulds said, “The Board has made an excellent choice in electing Eraj Shirvani as Chairman. He will bring to the role a fresh and valuable perspective on the goals and needs of the industry. As Chairman, Eraj will be able to call on his extensive expertise and experience in the credit markets, as well as his years as an ISDA Board member. I leave my role at ISDA in the knowledge that the Association has strong leadership in its new Chairman.”

Mr Shirvani, said “I look forward to working with ISDA CEO Robert Pickel and my fellow Board members on the important issues that we are discussing at this year’s Annual General Meeting. ISDA has an important leadership role to play in the market. I am confident that the strength of ISDA’s Board, its membership and staff, will help the industry address the challenges and opportunities ahead. ISDA and the derivatives industry deeply appreciate Jonathan’s leadership and his efforts on behalf of the industry over the years.”

Mr Shirvani has been a member of the ISDA Board since 2004. He is a Managing Director and Head of the European Credit business, including sales, trading and syndicate. He is also Head of European and Asia Pacific Credit Sales and Trading. Mr Shirvani is a member of Credit Suisse’s Global Derivatives Committee. He is also a board member of The Clearing Corporation and the Depository Trust & Clearing Corporation's DerivServ Board. Mr. Shirvani received his B.A. in International Relations and French from the University of Pennsylvania and his M.B.A. from Columbia University.

About ISDA

ISDA, which represents participants in the privately negotiated derivatives industry, is among the world’s largest global financial trade associations as measured by number of member firms. ISDA was chartered in 1985, and today has over 825 member institutions from 55 countries on six continents. These members include most of the world’s major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities. Information about ISDA and its activities is available on the Association's web site: www.isda.org.

^®ISDA is a registered trademark of the International Swaps & Derivatives Association, Inc.