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The 2011 Institutional Investor All-Asia Research Team Survey results are based on responses from nearly 3,000 investment professionals at some 935 institutions that collectively manage an estimated $1.6 trillion in Asia ex-Japan equities. The 2011 Institutional Investor All-Japan Research Team Survey results are based on responses from nearly 1,000 investment professionals at some 270 firms that collectively manage an estimated $1 trillion in Japanese equities. The 2011 Institutional Investor All-China Research Team Survey results are based on responses from nearly 1,670 investment professionals at some 660 firms that collectively manage an estimated $782 billion in Chinese equities. ba.ml.com/relationship/research.asp “ Bank of America Merrill Lynch” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., all of which are registered broker dealers and members of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured  May Lose Value  Are Not Bank Guaranteed. ©2011 Bank of America Corporation. 2011 Institutional Investor Survey # 1 All-Asia Research # 1 All-Japan Research # 1 All-China Research An unprecedented achievement: First firm to rank #1 in three surveys simultaneously 2011 Institutional Investor Survey Footnotes: The 2011 Institutional Investor All-Asia Research Team Survey results are based on responses from nearly 3,000 investment professionals at some 935 institutions that collectively manage an estimated $1.6 trillion in Asia ex-Japan equities. The 2011 Institutional Investor All-Japan Research Team Survey results are based on responses from nearly 1,000 investment professionals at some 270 firms that collectively manage an estimated $1 trillion in Japanese equities. The 2011 Institutional Investor All-China Research Team Survey results are based on responses from nearly 1,670 investment professionals at some 660 firms that collectively manage an estimated $782 billion in Chinese equities. “RU” stands for “runner-up”. An unprecedented achievement: First firm to rank #1 in three surveys simultaneously # 1 All-Asia Research # 1 All-Japan Research # 1 All-China Research #1 All-Asia Research Up from #8 in 2010 Sector # Hong Kong 1 South Korea 1 Consumer 1 Infrastructure 1 Insurance 1 Internet 1 Oil & Gas 1 Technology-Semiconductors 1 China 2 Singapore 2 Equity Derivatives 2 Health Care & Pharmaceuticals 2 Industrials 2 Australia 3 Banks 3 Metals & Mining 3 India RU Malaysia RU Taiwan RU Thailand RU Autos & Auto Parts RU Conglomerates RU Economics RU Equity Strategy RU Gaming & Lodging RU Power RU Property RU Quantitative Research RU Small & Mid-Cap Stocks RU Technology-IT Services RU Transportation RU #1 All-Japan Research Up from #11 in 2010 Sector # Beverages, Food & Tobacco 1 Paper & Textiles 1 Broadcasting 2 Equity Strategy 2 REITs 2 Transportation 2 Electronics/Consumer 3 Housing & Real Estate 3 Insurance 3 Metals 3 Retailing/Department & General Merchandise Stores 3 Autos RU Chemicals RU Economics RU Electronics/Components RU Health Care & Pharmaceuticals RU Machinery RU OTC & Small Companies RU Plant Engineering & Shipbuilding RU Quantitative Research RU Retailing/Convenience & Specialty Stores RU Software/Business RU Software/Entertainment RU Telecommunications RU #1 All-China Research Up from #4 in 2010 Sector # Energy 1 Insurance 1 Portfolio Strategy 1 Basic Materials 2 Economics 3 Health Care 3 Industrials 3 Public Utilities 3 Banks RU Consumer/Discretionary RU Consumer/Nondiscretionary RU Telecommunications RU