Bank of America Launches Fourth Year of Nationally-Recognized Neighborhood Excellence Initiative(TM), Bringing Total Commitment to Nearly $70 Million.

(From US Newswire)

Byline: MATTHEW PENNINGTON

CHARLOTTE, N.C., Feb. 20 /PRNewswire-USNewswire/ -- The Bank of America Charitable Foundation (Foundation) today announced the fourth year of its signature philanthropic program -- the Neighborhood Excellence Initiative -- introducing the program to communities in Richmond, Virginia; Providence, Rhode Island; and Fairfield County, Connecticut and expanding it internationally to London, England. In 2007, the Foundation will allocate $20 million globally to the initiative, which recognizes, nurtures and rewards organizations, local heroes and student leaders helping to rebuild and revitalize their communities in 44 of the bank's major markets. By the end of this year, the Foundation will have committed nearly $70 million to the Neighborhood Excellence Initiative since its inception in 2004.

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

"Bank of America created the Neighborhood Excellence Initiative to provide community support where it's needed most -- at the local level," said Andrew Plepler, president of the Bank of America Charitable Foundation. "In …