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BofA Merrill Lynch Global Research ranks No. 1 in 2011 Institutional Investor All-Asia, All-Japan and All-China Research Team Surveys - first time a single institution tops all three surveys in same year BofA Merrill Lynch Global Research captured 1st place in the prestigious All-Asia Institutional Investor survey, survey, which is based on responses from nearly 3,000 clients at some 935 institutions that collectively manage an estimated US $1.6 trillion in Asia equities, ex- Japan. The firm also placed No. 1 in the Institutional Investor All-China survey, which is based on responses from more than 1,670 investment professionals as some 660 institutions that collectively manage an estimated US$782 billion in Chinese equities. These No. 1 rankings follow the recent announcement that BofAML Research also tied for No. 1 with Nomura in Institutional Investor’s All-Japan survey, which is based on responses from nearly 1,000 investment professionals at some 270 firms that collectively manage an estimated $1 trillion in Japanese equities. These results mark the first time that a single institution has simultaneously ranked No. 1 in all three surveys. They also showcase a dramatic improvement from the 2010 surveys, in which BofAML was the eighth-ranked Research house in Asia, the fourth-ranked Research house in China, and the 11th- ranked Research house in Japan. “Our No.1 rankings are recognition of the talent and hard work of our analysts and sales people and the outstanding quality of the entire Equity platform at Bank of America Merrill Lynch,” said Candace Browning, head of Global Research. “We set out to build the premier client-focused equity platform in across the Asia Pacific Region, and while there is still significant upside, these awards demonstrate that our efforts are being recognized by clients.” “The Asia Pacific region is no longer a standalone story and its importance to the global economy cannot be overstated,” said Hunsoo Kim, Director of Asia Pacific Research. “It accounts for a 45 percent of global growth, which means that one’s outlook for Asia is a pillar of one’s world view and vice versa. We, as a firm, made a strategic decision to align our regional research more closely with our global teams to reflect the greater focus on Asia and to ensure a more relevant context to our research.” These jumps to number one are the results of Bank of America’s overall focus on building out its presence in key markets to serve better the needs of clients around the globe. Over the past year, BofAML Research expanded the number of companies it covers in Asia Pacific by nearly 20 percent, from nearly 1,000 stocks to more than 1,200, and increased its company coverage in Japan to 340 from 316 in since April of last year. Within the All-Asia survey, BofAML analysts captured 31 ranked positions, up from 21 last year; within the All-China survey the firm captured 12 ranked positions, up from 8 last year; and in the All-Japan survey the firm captured 24 ranked positions, up from 12 in 2010. “We want to be Japan’s top brokerage,” said Yohei Osade, director of Japan research. According to Osade, Bank of America Merrill Lynch is “virtually the only firm that’s been building up its business in Japan in recent years.” Bank of America Merrill Lynch’s expertise and presence in this region will play a critical role as Japan recovers from the aftermath of the devastating earthquake and tsunami that struck the country on March 11. Since then, equity analysts in Japan and around the world have issued more than 400 research reports assessing its economic impact and providing investment insight to clients. “Investors are always willing to reward good ideas and over the past year we have made a concerted effort for Sales and Research to work more closely together to deliver these ideas with a higher level of client service,” said Richard Boseley, head of Asia Pacific Equity Sales. “Surveys provide a window to broader market perception and the Institutional Investor results drive home the message that our initiatives have gained significant traction in a very short space of time.” “We have fostered a global collaborative platform for our analysts that has resulted in some innovative high conviction views,” said Browning, “and that’s clearly been recognized in the survey’s results. But Research does not exist in isolation. These achievements would not have been possible without the partnership of Equity Sales, Trading, Corporate Access and the broader Global Markets platform.” The BofA Merrill Lynch Global Research franchise covers more than 3,300 stocks and 950 credits globally and ranks in the top tier in many external surveys. In addition to these current survey results, the group was named No. 1 in the 2010 Institutional Investor All-Emerging Europe and All-Latin America Research team surveys and No. 3 in the 2010 Institutional Investor All-America Equity, All- America Fixed Income and All-Europe Research team surveys. The team was named Best Brokerage by Forbes/Zacks in 2010 and 2009, and was also the winner of the Emerging Markets’ magazine EM Research Global Award for 2010.