EL SEGUNDO, Calif., July 15, 2004 – Computer Sciences Corporation (NYSE: CSC) today announced that it has teamed with Debt Cancellation Corporation (DCC), a wholly owned subsidiary of Bank of America (NYSE: BAC), to offer CSC’s debt protection processing and administration services to DCC’s mortgage clients. The alliance combines DCC’s expertise in risk management and marketing of debt protection programs (DPP) with CSC’s experience providing technology solutions and business process outsourcing (BPO) to the financial services industry.

Federally authorized DPPs give mortgage lenders flexible, consumer-oriented alternatives to single-premium credit life insurance. Borrowers can choose single or joint coverage and have their debt cancelled during life events that may disrupt their ability to make payments on their loans, such as the death of a spouse, unemployment or disability that prevents them from working. The CSC and DCC joint offering will allow U.S. mortgage lenders to implement a customer-friendly DPP in less time and with a lower investment.

Because CSC offers an end-to-end debt protection solution, mortgage lenders do not need hardware or systems to implement a DPP. The combined value proposition also increases speed to market for new DPP products and includes risk sharing, proven technology, verified product design, sales process knowledge and cost-effective BPO services.

“By bringing this innovative DPP offering to market, DCC and CSC are lowering the barriers to the billion-dollar debt protection industry,” said David Curren, president of Debt Cancellation Corporation. “Mortgage lenders will be able to call on the underwriting resources and technologies of two financial leaders.”

“This groundbreaking business solution has evolved from CSC’s long-term software and services relationship with Bank of America,” said David Blanton, president of the Banking division of CSC’s Financial Services Group in the Americas. “As a veteran provider of bank insurance products since the early 1980s, CSC brings proven expertise to the U.S. lending community.”

A leader in financial services BPO, CSC combines deep industry experience with a proven, global infrastructure to deliver best-practice operations support for more than 200 banking, life, annuity, pensions, and property and casualty (general) insurance clients. CSC offers industry-leading vertical BPO solutions like policy and contract administration for insurers and reinsurers, and loan servicing and insurance tracking for banks worldwide.

About Debt Cancellation Corporation

Debt Cancellation Corporation (DCC) is a subsidiary under Bank of America Corporation (BAC) that provides debt cancellation services for industry leading mortgage corporations, retail banks, thrifts, credit card issuers and other financial services providers. Leveraging three years of industry leading knowledge with mortgage and card products DCC is able to offer tested product and secondary market solutions. Clients benefit from extensive customer research and best practices that are the industry standard for designing, selling and servicing debt protection products. DCC's comprehensive program is patent pending and ranges from start-up product development, pricing and sales process training, to operational systems integration, servicing functions and risk transfer. DCC is headquartered in Horsham, PA and has regional offices in Charlotte, NC and Denver, CO.

About CSC

Founded in 1959, Computer Sciences Corporation is a leading global information technology (IT) services company. CSC’s mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.

With approximately 90,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC’s own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $14.8 billion for the 12 months ended April 2, 2004. For more information, visit the company’s Web site at www.csc.com.