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October Race at Lowe's Motor Speedway Renamed the NASCAR(R) Banking 500 Only From Bank of America

Posted on: Friday, 15 May 2009, 09:00 CDT

Name change to increase fan focus on NASCAR Banking(R) products and one-of-a-kind NASCAR RacePoints(R) rewards program

Official Bank of NASCAR to create exclusive opportunities for fans in celebration of 50th year of October race

CHARLOTTE, N.C., May 15 /PRNewswire/ -- The Bank of America 500 will have a new name and a new focus when drivers and fans show up this fall for the NASCAR Sprint Cup Series(TM) race on October 17 at Lowe's Motor Speedway. Beginning this year, the only nighttime race in the Chase for the NASCAR Sprint Cup will be called the NASCAR Banking 500 only from Bank of America.

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

The name change is part of a strategic marketing effort to bring greater visibility and awareness to Bank of America's popular line of My Expression(R) NASCAR Banking(R) products.

"Rebranding this race the NASCAR Banking 500 only from Bank of America is a natural progression of our entitlement, and reflects how our customer focus and capacity for responding to unique customer needs drive what we do today," said Ray Bednar, Global Sponsorship Marketing executive, Bank of America. "The new race name speaks to fans, and demonstrates how we're delivering valuable products to fans and creating unique opportunities to make their passion for NASCAR part of their everyday banking experience."

NASCAR Banking is the only nationwide suite of NASCAR and driver-branded personal banking products - including check cards, checks and credit cards - specifically designed for race fans. Complemented by the exclusive NASCAR RacePoints rewards program, NASCAR Banking customers can use their personal check card or credit card to earn points, redeemable for NASCAR officially licensed merchandise, race tickets, everyday household goods and electronics and the most exclusive, behind-the-scenes access to drivers and unique at-track experiences available to fans.

"NASCAR is very grateful for the valuable partnership and support of Bank of America, the Official Bank of NASCAR," said Jim O'Connell, vice president of Corporate Marketing for NASCAR. "Beyond providing great banking products and services for millions of brand loyal NASCAR fans, their fully integrated programs and commitment across the entire industry help the entire sport of NASCAR."

Bank of America first introduced NASCAR Banking in 2007, when the company signed on as the Official Bank of NASCAR. Bank of America has continued to make investments in the product suite, including enhancements to the NASCAR RacePoints catalog and the addition of new drivers like three-time Sprint Cup Series champion Jimmie Johnson, who joins Dale Earnhardt, Jr., Bill Elliott, Jeff Gordon, Dale Jarrett, Kasey Kahne, Mark Martin, Juan Pablo Montoya, Kenny Wallace, retired driver Rusty Wallace and the late Dale Earnhardt among those featured on the check cards and credit cards.

These continued investments have helped Bank of America nearly double the number of NASCAR Banking checking accounts since May 2008, while increasing overall product usage by 32% and NASCAR RacePoints redemption by 140% for the same year-over-year period.

"We see tremendous upside with NASCAR, and the move to make the NASCAR Banking 500 only from Bank of America a national platform to promote our fan-based products is long overdue," said Affinity Banking Executive Stephen Gillin. "With over 75 million avid race fans, there are many more customers to reach with our unique and valuable product offering."

Additional Ways for Fans to Experience the NASCAR Banking 500

To celebrate the newly named NASCAR Banking 500 only from Bank of America and to mark the 50th year for Lowe's Motor Speedway, Bank of America is planning a 50-day countdown to the race with new and exclusive NASCAR RacePoints redemption offers. Each day, beginning on August 28, fans can redeem their points for a never-before-offered experience, which may include:

• the opportunity to present the trophy in Victory Lane to the winner of the NASCAR Banking 500;
• a behind-the-scenes viewing of a SPEED Channel show, including the chance to meet the show hosts; and
• autographed, limited edition Lowe's Motor Speedway 50th celebration merchandise.

Additionally, Bank of America continues to support a nationwide promotion that provides fans with the opportunity to acquire two tickets to a NASCAR Sprint Cup Series(TM) race, including the NASCAR Banking 500 only from Bank of America, when they sign up for a NASCAR Banking checking account and apply for a NASCAR Banking credit card.

"We're excited about Bank of America's recognition of our 50th celebration and the countdown promotion they've created for fans to commemorate this milestone," said Marcus Smith, president and GM, Lowe's Motor Speedway. "We continue to enjoy an extremely valuable partnership with Bank of America, and their continued contributions help us create a world-class race each year with unique opportunities for the fans."

Fans can learn more or sign up for NASCAR Banking at more than 6,100 Bank of America banking centers across the country, at www.bankofamerica.com/RacePoints or at NASCAR-sanctioned events and race tracks.

Bank of America is widely recognized as a major corporate supporter of motorsports, serving as the Official Bank of NASCAR and provider of the Officially Licensed NASCAR Credit Card. Bank of America's involvement with racing dates back to the early 1980's, when its legacy banks in Virginia and North Carolina sponsored races and provided financing for motor speedways throughout the United States. Over the last two decades, the company's foray into racing has continued to expand. In 2005, Bank of America announced sponsorship agreements with International Speedway Corporation (ISC) and Speedway Motorsports Inc. (SMI), for a combined total of 10 track sponsorships and title sponsorship of the Bank of America 500 at Lowe's Motor Speedway in Concord, N.C. In 2006, Bank of America entered into a multi-year agreement with the National Association for Stock Car Auto Racing, Inc. (NASCAR) to become the Official Bank of NASCAR.

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 approximately 55 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 nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. 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. 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.

www.bankofamerica.com

EDITOR'S NOTE: Visit the Bank of America Racing Press Kit for an image of the NASCAR Banking 500 only from Bank of America logo.

SOURCE Bank of America

Source: PR Newswire

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