Gander Mountain Company and Fleet Retail Group, Inc.
Announce Expanded Credit Facility

MINNEAPOLIS, February 28, 2005 — Gander Mountain Company (Nasdaq: GMTN) today announced the signing of a new credit facility for $225 million with Fleet Retail Group, Inc., a Bank of America company. The facility may be increased to $300 million subject to certain terms and conditions. This facility expands and extends the prior agreement between Gander Mountain and a consortium led by Fleet.

“Fleet Retail Group has been a strong partner and we are pleased to extend this great relationship,” said Mark Baker, president and CEO.  “The increased credit facility will provide greater liquidity and flexibility and supports our continued growth plans.”

“We have a high regard for the company and the management team's ability to distinguish their organization within their niche in the marketplace,” commented Ward K. Mooney, President of Fleet Retail Group.  “We look forward to continuing a long-term relationship with Gander Mountain.”

About Gander Mountain Company
Gander Mountain Company, headquartered in Minneapolis, Minnesota, is a leading specialty retailer that serves the needs of outdoor lifestyle enthusiasts, with particular focus on products and services for hunting, fishing, camping and boating.  Focused on a “We Live Outdoors” culture, Gander Mountain stores offer competitively priced outdoor equipment, accessories, related technical apparel and footwear, featuring national and regional brands as well as the company’s owned brand. There are currently 82 Gander Mountain outdoor lifestyle stores in 14 states.  For the nearest Gander Mountain store location, call 800-282-5993 or visit www.GanderMountain.com

About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving 33 million consumer relationships with more than 5,800 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than twelve million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 150 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 85 percent of the Global Fortune 500. Bank of America Corporation stock (ticker: BAC) is listed on the New York Stock Exchange.

Cautionary Note Regarding Forward-Looking Statements
Any statements in this release that are not historical or current facts are forward-looking statements.  All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements.  Certain of these risks and uncertainties are described in the “Risk Factors” section of the final prospectus relating to our initial public offering, as filed with the SEC, as well as in our subsequent reports filed with the SEC, which are available at our website at www.GanderMountain.com and at the SEC’s website at www.sec.gov.  

Contact: 
Shannon Burns
Director of Investor Relations
952-830-1690