PRESS RELEASES

Media Contact: Elizabeth Hodges
(704) 383-5188

Investor Contact: Alice Lehman
(704) 374-4139

March 10, 2005
Wachovia Retirement Services Provides Sponsors With Fiduciary Tool Kit

Charlotte, NC - Wachovia Retirement Services today announced the rollout of a fiduciary tool kit, providing sponsors who serve as plan fiduciaries with guidance that will assist them in complying with their fiduciary responsibilities.

"This tool kit reflects our continued commitment to being a consultative partner to our sponsors by going beyond investment-related issues to the day-to-day administrative issues that plan sponsors routinely face," said Larry Goldbrum, senior vice president and chief risk officer for Wachovia Retirement Services. "We are helping to make it easy for sponsors to stay on track with their fiduciary responsibilities and are pleased to be able to bring sponsors a convenient source of tools and information concerning fiduciary duties and responsibilities."

Contents include more than a dozen checklists, articles and tools addressing fiduciary issues such as:
Investment selection
Following and documenting prudent compliance procedures
Structuring investment committee meetings
Retaining records
Using DOL and IRS correction programs
Locating missing participants
Sponsors should continue to look to their legal advisors for guidance as to their specific situation and responsibilities.

About Wachovia Retirement Services
With more than $68 billion in assets under administration as of December 31, 2004, Wachovia Retirement Services, a business unit of Wachovia Bank, N.A., offers a wide array of retirement products. Wachovia is committed to providing fully bundled defined contribution, defined benefit and non-qualified retirement plans that exceed customer expectations. Headquartered in Charlotte, N.C., Wachovia Retirement Services has more than 4,100 plans and more than 1.1 million participants and pensioners. For more complete information about Wachovia Retirement Services please visit http://www.wachovia.com/401k or call 800-917-9343.

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. Wachovia had assets of $493.3 billion, market capitalization of $83.5 billion and stockholders' equity of $47.3 billion at December 31, 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve customers primarily in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states and five Latin American countries. 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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