Bank of America and Visa Create Prepaid Card for 2008 U.S. Olympic & Paralympic Team Athletes

CHARLOTTE, N.C. and SAN FRANCISCO (Map) - CHARLOTTE, N.C. and SAN FRANCISCO, July 22 /PRNewswire/ -- Bank of America, the Official Bank Sponsor of the 2008 U.S. Olympic Team, and Visa, Official Payment Services Brand of the U.S. Olympic Team, today announced the return of a Visa-branded prepaid card that will enhance the Olympic experience of all U.S. athletes and United States Olympic Committee (USOC) staff members participating in the Beijing 2008 Olympic and Paralympic Games. The prepaid card, featuring the image of a U.S. flag as well as the Olympic rings, will be used by each athlete and staff member for their daily per diem at the Olympic and Paralympic Games.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b )

As a better alternative to cash and checks, the U.S. Olympic Team prepaid card will offer America's athletes immediate access to their funds throughout Beijing and at tens of millions of locations worldwide. And unlike cash, Visa prepaid cards are protected by Bank of America's and Visa's Zero Liability policy in the event of loss or theft.

"Visa prepaid cards continue to gain popularity as cardholders demand more choice and flexibility in how they pay and want to be paid," said

Bank of America, a U.S. Olympic Team sponsor since 1992, is the exclusive issuer of the Visa prepaid card for the second time, which is being offered to the entire USOC delegation for the Olympic and Paralympic Games including more than 800 American athletes.

"We're thrilled to offer this card to the U.S. Olympic and Paralympic Team," said Anne Saunders, Brand and Marketing executive, Bank of America. "The athletes now have the flexibility to purchase what they want, where they want. The U.S. Olympic Team prepaid card will allow them to dine, purchase souvenirs and enjoy the Olympic and Paralympic experience with one, easy-to- use funds access solution."

The cards will help reduce administrative and processing expenses for the USOC as they equip America's Team to compete on the world's biggest stage.

"The United States Olympic Committee is pleased to work with Visa and Bank of America to provide the U.S. delegation of athletes, coaches and staff with a tool that will simplify all their financial transactions and needs during the Olympic and Paralympic Games," said Jim Scherr, USOC Chief Executive Officer. "These easy-to-use cards provide tremendous advantages. We are delighted that U.S. Team Olympic sponsors, Visa and Bank of America, have come together to provide these cards to athletes and operational staff during this exciting and busy time."

Bank of America has been issuing prepaid cards for the past 10 years, and today offers a suite of prepaid cards: corporate gift/incentives, payroll cards, child support, athletic per diem cards, insurance claim, emergency relief, rebate and various other commercial prepaid cards. For more information on these prepaid card products, please visit http://corp.bankofamerica.com/public/products/card/index.jsp

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 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,500 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. Member FDIC. For more information, visit http://www.bankofamerica.com .

About Visa

Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world, and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit http://www.corporate.visa.com .

About the USOC

The United States Olympic Committee (USOC) is recognized by the International Olympic Committee as the sole entity in the United States whose mission involves training, entering and underwriting the full expenses for the U.S. teams in the Olympic, Paralympic, Pan American and Parapan American Games. In addition to being the steward of the U.S. Olympic Movement, the USOC is the moving force for support of sports in the United States that are on the program of the Olympic, Paralympic, Pan American and Parapan American Games. Learn more about the U.S. Olympic Team and Paralympic Teams and the USOC at http://www.teamusa.net .