BALTIMORE, Oct. 26, 2003 (PRIMEZONE) — The law firm of Law Offices Of Charles J. Piven, P.A. announces that it has filed a class action lawsuit on behalf of purchasers of the securities of mutualfunds of Bank of America’s Nations Funds Family of Funds (the “Funds”) between October 1, 1998 and July 3, 2003, inclusive, (the “Class Period”), seeking to pursue remedies under the SecuritiesExchange Act of 1934, the Securities Act of 1933 and the Investment Advisers Act of 1940. The deadline for Nations Funds investors to move for lead plaintiff in a securities fraud class actionrecently brought against Bank of America and Banc of America Capital Management (collectively, the “Nations Funds”) is rapidly approaching. If you purchased any of the Nations Funds listed belowbetween October 1, 1998 and July 3, 2003, inclusive (the “Class Period”), and you wish to be a lead plaintiff in the case, you must move to serve as lead plaintiff by filing motions by November 4,2003.

The following funds are subject to the above class action lawsuit:

Nations Institutional Reserves Convertible Securities Fund (Nasdaq: PACIX – News, NCVBX – News, PHIKX – News, NCIAX – News) Nations International Equity Fund (Nasdaq: NIIAX – News, NIENX – News, NITRX – News, NIEQX – News) Nations Fund Inc. Small Company Fund (Nasdaq: PSCPX – News) Nations Capital Growth Fund (Nasdaq: NCGIX – News, NCGNX – News, NCAGX – News, NCGRX – News) Nations Marsico 21st Century Fund (Nasdaq: NMTAX – News, NMTBX – News, NMYCX – News, NMYAX – News) Nations Marsico Focused Equities Fund (Nasdaq: NFEAX – News, NFEBX – News, NFECX – News, NFEPX – News) Nations Marsico Growth Fund (Nasdaq: NMGIX – News, NGIBX – News, NMICX – News, NGIPX – News) Nations MidCap Growth Fund (Nasdaq: NEGAX – News, NEGNX – News, NEMGX – News, NEGRX – News) Nations Small Company Fund (Nasdaq: NSCGX – News, NCPBX – News, NCPCX – News, PSCPX – News) Nations Strategic Growth Fund (Nasdaq: NSGAX – News, NSIBX – News, NSGCX – News, NSEPX – News) Nations Asset Allocation Fund (Nasdaq: PHAAX – News, NBASX – News, NAACX – News, NPRAX – News) Nations MidCap Value Fund (Nasdaq: NAMAX – News) Nations SmallCap Value Fund (Nasdaq: NSVAX – News) Nations Value Fund (Nasdaq: NVLEX – News, NVLNX – News, NVALX – News, NVLUX – News) Nations Global Value Fund (Nasdaq: NVVAX – News, NGLBX – News, NCGLX – News, NVPAX – News) Nations International Value Fund (Nasdaq: NIVLX – News, NBIVX – News, NVICX – News, EMIEX – News) Nations Marsico International Opportunities Fund (Nasdaq: MAIOX – News, MBIOX – News, MCIOX – News, NMOAX – News) Nations LargeCap Enhanced Core Fund (Nasdaq: NMIAX – News, NMIMX – News) Nations LargeCap Index Fund (Nasdaq: NEIAX – News, NINDX – News) Nations MidCap Index Fund (Nasdaq: NTIAX – News, NMPAX – News) Nations SmallCap Index Fund (Nasdaq: NMSAX – News, NMSCX – News) Nations LifeGoal(R) Balanced Growth Portfolio (Nasdaq: NBIAX – News, NLBBX – News, NBICX – News, NBGPX – News) Nations LifeGoal(R) Growth Portfolio (Nasdaq: NLGIX – News, NLGBX – News, NLGCX – News, NGPAX – News) Nations LifeGoal(R) Income and Growth Portfolio (Nasdaq: NLGAX – News, NLIBX – News, NIICX – News, NIPAX – News) Nations Bond Fund (Nasdaq: NSFAX – News, NSFNX – News, NSFCX – News, NSFIX – News) Nations Government Securities Fund (Nasdaq: NGVAX – News, NGVTX – News, NGVSX – News, NGOVX – News) Nations High Yield Bond Fund (Nasdaq: NAHAX – News, NHYBX – News, NYICX – News, NYPAX – News) Nations Intermediate Bond Fund (Nasdaq: PHBAX – News, NTBBX – News, NTBCX – News, NATAX – News) Nations Short-Intermediate Government Fund (Nasdaq: NSIGX – News, NSINX – News, NSIFX – News, NSIMX – News) Nations Short-Term Income Fund (Nasdaq: NSTRX – News, NSTIX – News, NSTMX – News) Nations Strategic Income Fund (Nasdaq: NDIAX – News, NDVIX – News, NDVSX – News, NDIVX – News) Nations CA Intermediate Municipal Bond Fund (Nasdaq: NACMX – News, NCMAX – News) Nations CA Municipal Bond Fund (Nasdaq: PHCTX – News, NCMBX – News, NCBCX – News, NCPAX – News) Nations FL Intermediate Municipal Bond Fund (Nasdaq: NFIMX – News, NFITX – News, NFINX – News, NFLBX – News) Nations FL Municipal Bond Fund (Nasdaq: NFDAX – News, NFMNX – News, NFMBX – News, NFLMX – News) Nations GA Intermediate Municipal Bond Fund (Nasdaq: NGMIX – News, NGITX – News, NGINX – News, NGAMX – News) Nations Intermediate Municipal Bond Fund (Nasdaq: NITMX – News, NIMMX – News, NIMNX – News, NINMX – News) Nations Kansas Municipal Income Fund (Nasdaq: NKIAX – News, NKIBX – News, NKICX – News, NKSAX – News) Nations MD Intermediate Municipal Bond Fund (Nasdaq: NMDMX – News, NMITX – News, NMINX – News, NMDBX – News) Nations Municipal Income Fund, (Nasdaq: NMUIX – News, NMNNX – News, NMNIX – News) Nations NC Intermediate Municipal Bond Fund (Nasdaq: NNCIX – News, NNITX – News, NNINX – News, NNIBX – News) Nations SC Intermediate Municipal Bond Fund (Nasdaq: NSCIX – News, NISCX – News, NSICX – News, NSCMX – News) Nations Short-Term Municipal Income Fund (Nasdaq: NSMMX – News, NSMUX – News, NSMIX – News) Nations TN Intermediate Municipal Bond Fund (Nasdaq: NTIMX – News, NTNNX – News, NTINX – News, NTNIX – News) Nations TX Intermediate Municipal Bond Fund (Nasdaq: NTITX – News, NTXTX – News, NTXCX – News, NTXIX – News) Nations VA Intermediate Municipal Bond Fund (Nasdaq: NVAFX – News, NVANX – News, NVRCX – News, NVABX – News) Nations CA Tax-Exempt Reserves (Nasdaq: NATXX – News) Nations Cash Reserves (Nasdaq: NPRXX – News, NIBXX – News, NRSXX – News) Nations Government Reserves (Nasdaq: NGAXX – News, NGOXX – News) Nations Money Market Reserves (Nasdaq: NRBXX – News, NRTXX – News) Nations Municipal Reserves (Nasdaq: NMSXX – News) Nations Tax-Exempt Reserves (Nasdaq: NTEXX – News, NTXXX – News) Nations Treasury Reserves (Nasdaq: NTSXX – News, NTTXX – News)

The wrongful conduct alleged in, and which is the subject of one or more of these complaints, relates to “late trading” of mutual fund shares by certain customers of the fund (including one or more hedge funds). Specifically, the conduct complained of relates to allegations that certain of those who invested in certain of the various defendants’ mutual funds, including Canary Capital Partners, LLC and Canary Investment Management, LLC (collectively, “Canary”), improperly arranged to place orders after 4 p.m. Eastern Time on a given day at that day’s price (instead of the next day’s price, which the order would have received had it been processed lawfully). This allowed Canary and any other mutual fund investors who engaged in the same wrongful course of conduct to capitalize on information available only after 4:00 p.m. Eastern Time while others who bought shares in the subject mutual funds could not so benefit.

The wrongful conduct alleged in and which is the subject of one or more of these complaints relates to “timing.” As used, “timing” is an investment technique involving short-term, “in and out” trading of mutual fund shares designed to take advantage of inefficiencies in the way mutual fund companies price their shares, particularly shares of international funds. It is alleged, further, that while the mutual fund companies purported to guard against timing, they allowed select investors to time their trades to the detriment of other mutual fund investors and for the benefit of the mutual fund companies.

No class has yet been certified in the above actions. Until a class is certified, you are not represented unless you retain an attorney. If you are a member of any of the proposed classes, meaning, you are one who purchased, redeemed and/or held of any of the mutual funds referenced herein during the period that the conduct complained of occurred, you may be eligible to serve as a plaintiff. To be a member of one or more of the classes, if certified, you need not take any action at this time. You may retain counsel of your choice.

If you are one who purchased, redeemed and/or held any of the mutual funds referenced above during the period that the conduct complained of occurred and want to discuss your legal rights, or if you have information or questions about other mutual fund companies being investigated for improper conduct, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions. Law Offices Of Charles J. Piven has been involved in securities litigation for over ten years. You may contact Law Offices Of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@pivenlaw.com or by calling 410/332-0030.

CONTACT: Law Offices Of Charles J. Piven, P.A. Charles J. Piven (410) 332-0030 hoffman@pivenlaw.com

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