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January 04, 2005
Wachovia Corporate and Institutional Trust Hires Relationship Manager for Structured Finance Trust Services

London, England - Wachovia Corporate and Institutional Trust announced today that it has hired Mike Hellmuth as a relationship manager in its Structured Finance Trust Services group. He will lead trustee administration for structured finance transactions throughout the United Kingdom and will be based in London.

Utilizing leading-edge systems and technology, Structured Finance Trust Services deals with all types of structured financings, such as asset-backed and mortgage-backed securities, tax liens and leveraged lease transactions.

"I'm very excited that Mike is joining our group," said Chuck Dooley, senior vice president of Structured Finance Trust Services. "Along with our partnership with BNP Paribas, his skills will make a great impact on both our business development efforts and servicing of existing clients in the United Kingdom. Mike has the right expertise to further our efforts abroad."

Wachovia recently announced an agreement with BNP Paribas Securities Services' Global Corporate Trust Division, enabling a comprehensive range of corporate trust services to be offered to their respective existing and potential clients in the European and U.S. securitization markets. This cooperation agreement includes the following services: Trustee, Account Bank, Custody, Collateral and Portfolio Administration Services.

"The combined product offerings of Wachovia and BNP Paribas will provide clients a powerful set of services and products, allowing them to successfully structure their complex financial transactions," said Hellmuth.

Hellmuth joins Wachovia from JP Morgan Chase, where he served as vice president in the Trustee and Asset Administration Team. Prior to that, he was in the Corporate Trust departments of The Bank of New York and Citibank. He received his GCE 'A' and 'O' at the Erith School, Erith.

Structured Finance Trust Services can serve as indenture trustee, owner trustee, bond administrator and calculation agent, collateralized debt administrator, warehouse collateral agent, document custodian and cash manager.

Wachovia Corporate and Institutional Trust 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., Wachovia Corporate and Institutional Trust has locations in 35 cities in 18 states.

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve approximately 14 million client relationships (including households and businesses), primarily in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states and Washington, D.C. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through wachovia.com.

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