Bank of America Implements Paper Procurement Policy

com

* Serving more middle market banking clients than any other bank.com/newsroom/press/pdfs/Paper_Procurement_Policy. Projects of special significance have been the Society's
partnership effort on the 20,000-acre Nicatous Lake easement; the campaign to
acquire Big Spencer Mountain, six miles of undeveloped shoreline on Moosehead
Lake and the West Branch campaign that permanently conserved 329,000 acres of
forest.
The International Paper Environmental Education Award is presented
annually to an educator who has developed an innovative approach to
environmental education that significantly improves student comprehension of
environmental issues, fosters an understanding of the link between
environmental protection and economic growth , demonstrates leadership and
inspires achievement.
Mike has also developed an Advanced Placement Environmental Science
program giving students the opportunity to complete a full year of curriculum
in 90 days.

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International Paper and The Conservation Fund Recognize and Reward Environmental and Conservation Excellence

Department of the Interior, delivered the keynote
address. His ability to bring diverse interests together
in a true sense of partnership to achieve conservation goals is having a
lasting impact.

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The 2005 IP Conservation Partnership Award winner was Alan Hutchinson.

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"
The International Paper Conservation Partnership Award, now in its 17th
year, is presented annually to an individual who has achieved significant
results in the protection of habitat through a cooperative relationship with a
business or company.
Alan also led the development of an easement oversight and management
program for landscape-scale easements to help assure that conservation
objectives are accomplished as originally envisioned. "The Conservation Fund is
especially pleased to continue our long-standing partnership with
International Paper, whose extraordinary commitment to environmental
stewardship and sustainable forestry should be applauded. In the U.

Forests and Rainforests

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The Honorable Lynn Scarlett, assistant secretary of policy, management
and budget at the U.

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Bank of America is the No . Headquartered in the United States, International Paper has
operations in over 40 countries and sells its products in more than 120
nations.

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(3) Protection of Endangered Forests -- Require the bank's suppliers of
paper products to identify and appropriately manage endangered and
high conservation value forests.
"We applaud Bank of America's commitment to use less paper, buy post-
consumer recycled paper and promote sustainable forest management among its
paper suppliers," said Environmental Defense senior economist Robert Bonnie. Alan
and Mike remind us of the power of partnerships and the importance of
innovation and personal commitment," said Selzer .

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"This new
policy expands on Bank of America's heritage of environmental stewardship to
address climate change, biodiversity and conservation of natural systems.
"Their impressive work to create lasting partnerships between business,
academic and conservation communities demonstrates the vital importance of
maintaining a healthy environment along with a solid and growing economy. Seeking innovative conservation solutions for the 21st century,
the Fund works to integrate economic and environmental goals.

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Industry leading initiative aims to reduce virgin fiber demand and protect
endangered forests

CHARLOTTE, N.

http://www .

http://www., Mike established an
interdisciplinary study program for 10th and 11th grade students performing at
low levels.

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The bank developed the policy in partnership with a group of key
suppliers, such as International Paper, and environmental organizations such
as Metafore , a non-profit group that works to conserve, protect and restore
the world's forests, and the non -profit organization, Environmental Defense."
As part of the policy, the bank will continue its existing efforts to
reduce paper consumption, maximize recycled content where paper elimination is
not feasible, and recycle the paper it uses in internal operations and
receives from external sources.
During the same time period in which the bank's assets have grown from
$670 billion in 2000 to more than $1 trillion in 2004, it has decreased the
amount of paper used in internal operations by 32 percent. To reduce paper
sent to outside parties, it now offers online banking customers the option of
electronic statements in place of paper statements, for which over 1 million
customers have signed up.pdf

"Alan and Mike share International Paper's passion for protecting natural
resources.

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To protect endangered forests, Bank of America will require suppliers of
paper products to warrant that neither their products nor product inputs,
whether sourced from internal operations or third party suppliers, were
derived from the harvesting of primary tropical moist forests, or primary
forests in temperate or boreal forest regions that are not managed using
sustainable forestry practices as verified by an independent third party
audit.bankofamerica. Mike continues to encourage all his students to
understand the need for appropriate balance between environmental protection
and a healthy economy to prepare them to make effective contributions to their
community 's welfare in the future."

The Conservation Fund is the nation's foremost environmental non -profit
dedicated to protecting America's land and water legacy for current and future
generations .com) businesses include
paper, packaging and forest products. As one of the largest private landowners
in the world, IP professional foresters and wildlife biologists manage the
woods with great care in compliance with the rigorous standards of the
Sustainable Forestry Initiative(R) program.

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"
The new procurement policy, implemented on April 1, has three primary
goals:

(1) Source Reduction and Recycling -- Minimize the bank's consumption of
paper products containing virgin wood fiber, in order to reduce
demand on forests. "Efficient use of
resources reduces environmental impacts and expenses, driving benefits for
both our shareholders and the communities in which we do business. The company serves clients in 150 countries and has
relationships with 98 percent of the U.
"It is an absolute honor to recognize Alan and Mike," said Scarlett.

International Paper (http://www. The SFI(R) program is an
independent certification system that ensures the perpetual planting, growing
and harvesting of trees while protecting biodiversity, wildlife , plants, soil,
water and air quality.

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Through
his leadership at Redmond High School in Duvall , Wash.

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(Logo: http://www.5 million
acres of unique and environmentally important habitat on its forestlands
through conservation agreements and land sales to environmental groups.

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In 2004 , the bank recycled 28,268 tons of paper,
effectively recycling all the paper it uses internally, plus the same amount
again received from external sources.newscom.
Since 1997, Alan has led the Forest Society of Maine, located in Bangor,
Maine, in the development of conservation projects protecting nearly 400,000
acres of the state's forests.

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Bank of America's new policy is a big step forward for
the financial services industry, and we hope other firms will follow its
lead.internationalpaper .

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, Bank of America, the nation's
largest retail bank, and one of the world's largest consumers of paper
products, has devised a new paper procurement policy that reduces impacts on
the world's forest ecosystems and promotes sustainable forestry practices.
"Maintaining the ecological health of forests is a key factor in
sustaining the cultures, local communities and economies relying on this
resource," said Greg Taylor, Supply Chain Management executive. It is a privilege to recognize individuals who have made such an
exceptional conservation and environmental contribution to their communities
that spans across the United States from Maine to Washington," said Liebetreu.

emeagwali smartwood

In 2004, 70 percent of the paper purchased by the bank contained recycled
content, at an average of 20 percent post-consumer content.

For more information on the bank's paper procurement policy, click on the
link below. His dynamic leadership
to promote the use of conservation easements in working forests protects the
ecosystems, contributes to Maine's economy and enhances the quality of life in
local communities.

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"Suppliers of paper products to the bank must
remain in compliance with applicable laws and regulations governing timber
harvesting and ensure their third party suppliers also comply with applicable
laws and regulations.
"These efforts will help protect forest ecosystems , conserve natural resources
and reduce pollution. The company
provides unmatched convenience in the United States, serving 33 million
consumer relationships with more than 5,800 retail banking offices, more than
16,700 ATMs and award-winning online banking with more than 12 million active
users. 1 overall Small Business Administration
(SBA) lender in the United States and the No. Fortune 500 companies and 85 percent
of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is
listed on the New York Stock Exchange.bankofamerica.com/cgi-bin/prnh/20020701/IPLOGO )
The 2005 International Paper Environmental Excellence Awards, each
accompanied by an unrestricted $10,000 grant from the International Paper
Company Foundation, were presented at the National Press Club in Washington,
D.

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The bank has set
a goal that 90 percent of total paper purchases contain a minimum of 20
percent post-consumer recycled content by 2006. WASHINGTON, Today International Paper (NYSE: IP)
and The Conservation Fund recognized Alan Hutchinson, executive director of
the Forest Society of Maine, and Mike Town, a Washington state high school
science teacher, for their unique appreciation of the environment and their
outstanding efforts to protect natural resources through leadership in
conservation and education. With 1 percent fundraising costs and 96 percent program
allocation, The Conservation Fund is recognized as the nation's top rated
environmental non-profit by the American Institute of Philanthropy. And,
the company has a long-standing policy of using no wood from endangered
forests.

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(2) Sustainable Forest Practices -- Ensure that source forests from which
virgin wood fiber is procured are managed using environmentally
preferable practices.
"We believe our paper reduction and recycling efforts are already best in
class, but we are eager to raise the bar," Taylor said.S. The unique program, now known as Pathfinder, provides meaningful
learning experiences for students with learning disabilities.
"Thanks to the generous support of the International Paper Company
Foundation, today we celebrate the successes of two conservation heroes.

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About 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 2005 IP Environmental Education Award winner was Mike Town.

tropiques forests

"
In addition to simply encouraging best practices that protect endangered
forests, the new policy has teeth and aligns with the bank's forest practices
lending policy, Taylor said. The bank will require its suppliers to work with their third-party
suppliers of wood fiber to encourage and monitor compliance with conversion
requirements and promote retention of high conservation value forests and
natural forest ecosystems.S.C. Since its
founding in 1985, the Fund has helped its partners safeguard wildlife habitat,
working landscapes, community "greenspace " and historic sites totaling
4 million acres. alone, IP protects more than 1.

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If the link is not live, please copy and paste into your browser. Presenting the excellence awards were David Liebetreu , International
Paper's vice president of Forest Resources, and Lawrence Selzer, president and
CEO of The Conservation Fund. Under Mike's
leadership, graduation rates of Pathfinder students doubled from previous
rates. His students have achieved a pass rate on the nation-wide test in
the mid -to-high 80 percent range compared to the nation-wide average in the
low-to-mid 50 percent range.

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C."
Regarding forest practices, the bank will not align with suppliers engaged
in the conversion of high conservation value forests or natural forest
ecosystems to tree farms or plantations , on any scale, on lands that they own
or manage. 1 SBA lender to minority-owned
small businesses .S.

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