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BANK OF AMERICA RESPONDS TO RISING DEMAND FOR EMERGENCY FOOD THROUGH VOLUNTEERISM AND FINANCIAL SUPPORT

PHILADELPHIA — April 30, 2009 — Bank of America associates gathered today at Philabundance to present a check for $75,000 from the Bank of America Charitable Foundation, part of a $1 million grant to Feeding America (formerly America’s Second Harvest), the nation’s largest domestic hunger relief organization, to provide food and groceries to hungry families throughout the area.

“Bank of America’s support could not come at a better time,” said Bill Clark, President and Executive Director, Philabundance. “Over the past year, we’ve seen a dramatic increase in the need for food from the agencies we support.  Whether it’s the people who have sought our services before and need them more or the many new faces needing some assistance, we’re committed to getting food on the table.”

According to a recent survey released by Feeding America, demand at Feeding America’s food banks increased an average of 30 percent last year. Philabundance, like food banks across the county is seeing an increase in need of 31 percent among the agencies they serve.

“Bank of America remains focused on providing relevant, meaningful support to help individuals and families navigate difficult times,” said Tom Woodward, President, Bank of America Pennsylvania.  “Ensuring vulnerable populations in our community have access to basic services is a critical component to revitalizing the economy. We are proud to support Philabundance, both financially and through the dedication and efforts of our associates, at a time when nonprofits are struggling to provide significantly increased services to the thousands of families who are having enormous difficulty making ends meet.”

“The nation’s hunger crisis has grown dramatically over the last year. People all over the country are eating less food, smaller meals, and even having to skip meals altogether,” said Vicki Escarra, Feeding America president and CEO. “We are extraordinarily grateful to Bank of America for recognizing the tremendous strain so many Americans are facing as a result of the economic downturn by donating this generous gift.”

Bank of America is a longstanding supporter of food banks across the country; in 2008, the bank donated more than $900,000 in local charitable giving, in addition to its $1 million national grant, and associates volunteered nearly 4,000 hours to assist with hunger relief efforts.  During the bank’s Global Service Month in April, Bank of America’s support of communities across the country in need of basic human services such as food supplies will take on a human face as thousands of associates volunteer their time and expertise.

During this enterprise-wide initiative, associates have an opportunity to connect with their local communities by providing valuable volunteer support to help improve the economic and social health of neighborhoods.  In addition to volunteering at local food banks, opportunities include teaching financial education for youth, working on affordable housing and assisting with environmental initiatives.

About Philabundance

Philabundance is the region’s largest hunger relief organization fighting hunger and malnutrition in the Delaware Valley. Philabundance provides a full plate of services to close to 600 member agencies in 10 counties, who serve approximately 900,000 low income residents. Philabundance provides food to approximately 65,000 people per week, at an aggregate cost of less than 30 cents per meal. In 2007, Philabundance, distributed 17 million pounds of food in the Delaware Valley. For more information about Philabundance, call 215-339-0900 or visit www.philabundance.org

About Feeding America

(Formerly America’s Second Harvest – The Nation’s Food Bank Network)
Feeding America provides individuals and families facing hunger with the fuel to survive and even thrive. As the nation’s largest domestic hunger-relief charity, our network members supply food to more than 25 million Americans each year, including 9 million children and 3 million seniors. Serving the entire United States, more than 200 member food banks support 63,000 agencies that address hunger through emergency food assistance and programs. For more information on how you can fight hunger in your community and across the country, visit www.feedingamerica.org.

About Bank of America Corporate Philanthropy

Building on a long-standing tradition of investing in the communities it serves, Bank of America this year embarked on a new, ten-year goal to donate $2 billion to nonprofit organizations engaged in improving the health and vitality of their neighborhoods. Funded by Bank of America, the Bank of America Charitable Foundation gave more than $200 million in 2008, making the bank the most generous financial institution in the world and the second largest donor of all U.S. corporations in cash contributions. Bank of America approaches investing through a national strategy called “neighborhood excellence” under which it works with local leaders to identify and meet the most pressing needs of individual communities. Through Team Bank of America, bank associate volunteers contributed more than 900,000 hours in 2008 to enhance the quality of life in their communities nationwide. For more information about Bank of America Corporate Philanthropy, please visit www.bankofamerica.com/foundation

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