Bank of Boston declares common and preferred dividends.

BOSTON--(BUSINESS WIRE)--Oct. 24, 1996--Bank of Boston Corp. reported that its board of directors today declared a quarterly per share dividend of $.44 on the corporation's common stock.

The dividend is payable Nov. 29, 1996 to stockholders of record on Nov. 4, 1996.

Separately,

the board declared quarterly dividends on its five outstanding series of preferred stock as follows: $.75 per share for Series A, $.75 per share for Series B, $1.37 per share for Series C, $.5375 per depositary share representing Series E, and $.49219 per depositary share representing Series F. These dividends are payable on Dec. 16, 1996 to stockholders of record on Nov. 15, 1996. The dividend rates on the adjustable rate preferred stocks are 6.00 percent for Series A, 6.00 percent for Series B and 5.50 percent for Series C.

BankBoston (NYSE:BKB), with assets of $62.0 billion as of Sept. 30, 1996, is a focused financial institution engaged primarily in commercial and consumer banking in southern New England, financing to selected corporations and individuals nationally and internationally, and indigenous banking in Latin America. New England's only global bank, the corporation and its subsidiaries operate through a network of 650 offices in the United States and through more than 100 offices in 24 countries in Latin America, Europe and Asia, the third-largest overseas network of any U.S. bank. The corporation's common and preferred stocks are listed on the New York and Boston stock exchanges.

CONTACT: BankBoston

Karen Schwartzman, 617/434-7594

or

John Kahwaty, 617/434-3650