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Media Contact: Elizabeth Hodges
(704) 383-5188

Investor Contact: Alice Lehman
(704) 374-4139

March 09, 2004
Wachovia Corporate and Institutional Trust Announces New State Manager for South Carolina
Anatrella to assume responsibility for S.C. bond administration

CHARLOTTE, NC - Wachovia Corporate and Institutional Trust announced today that Paul Anatrella, state bond manager for North Carolina, will expand his responsibilities into South Carolina.

"Paul has had great success in North Carolina, and I know he will continue to have terrific results with his expanded responsibility," said Linda Delaney, managing director of Wachovia Corporate Trust. "Wachovia's bond administration business is unparalleled in the Carolinas. We have a solid suite of products and a strong focus on our customers, and we believe that we can escalate our business even further in this market with Paul's leadership."

Wachovia is currently ranked number one for new municipal bond issues in North and South Carolina by Thompson Financial (as of December 31, 2003) and has twice the market share and number of issues as its nearest competitor in the regions.

"Wachovia is committed to serving South Carolina issuers. I am very excited about our prospects in South Carolina and growing this business even further," said Anatrella.

Anatrella has more than 21 years of corporate trust experience and has been with the company for over five years. He is a graduate of Villanova University and received his MBA from St. John's University. He is based in Wachovia's Charlotte office.

Wachovia Corporate and Institutional Trust, part of the Capital Management Group, offers retirement services, custodial services and investment management, conventional and structured finance trust solutions, equity services and information management and claims processing to institutional clients worldwide. Based in Charlotte, N.C., the Corporate and Institutional Trust group has offices in 42 cities in 18 states plus the District of Columbia.

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation, with assets of $401 billion, market capitalization of $61 billion and stockholders' equity of $32 billion at Dec. 31, 2003. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 9 million households, including 900,000 businesses, primarily in 11 East Coast states and Washington, D.C. Its broker-dealer, Wachovia Securities, LLC, serves clients in 49 states. Global services are provided through 32 international offices. Online banking and brokerage products and services also are available through www.wachovia.com.

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