Bank of America tries to excuse itself

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Ethical.Investing@bankofamerica.com

November 30, 2009
FOR IMMEDIATE RELEASE

Bank of America Reaffirms Commitment to Greener Climate

In the face of an illegal "lockdown"-style protest at the Bank of America's Westlake Seattle branch, Assistant Regional Vice President Sam Gibson outlined the Bank's green policies to a crowd of mostly well-behaved protesters. (Watch video here.)

"We agree with you that climate change is a problem, and there is concern with mountaintop removal and other extractive industries being 'dirty,'" said Gibson, speaking in front of the bank after requesting access to the protesters' sound stage. "But we must let the market take its course and create a vigorous clean solution, hopefully sooner rather than later."

Mr. Gibson noted that Bank of America is invested in new carbon sequestration technologies which will, when developed, take carbon out of the atmosphere and put it deeply underground. "Clean Green Coal is a part of the plan to make America energy-secure, and Bank of America is proud to be a part of that plan," said Mr. Gibson.

"He has some good points," said Chet Johnson, a Bank of America account holder who was withdrawing money when the "lockdown" occurred. "I wouldn't want my investments affected."

Mr. Gibson offered sympathy to the two protesters who were arrested after chaining themselves to the doors of the branch.

"Our diverse portfolio of investments does include alternative-extraction industries, and some folks object to that," said Gibson. "We must protect the profits of our shareholders, with faith that the market will create a solution to the problems that sometimes gives rise to."

"We agree that climate change is a problem, and we're definitely 'going green,'" said Harlan Borland, a Public Relations manager at the branch. "Green technology is the key way to address climate change. By removing mountaintops we can get to the coal, clean it, and make it green."

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For Media Inquiries Please Contact: Sam Gibson
Assistant Regional Vice President
(206) 914-6194