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Investor Contact: Alice Lehman
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April 28, 2005
Wachovia Corporate and Institutional Trust Announces California Office
Group hires Becker to lead new group

Charlotte, NC - Wachovia Corporate and Institutional Trust announced today that it has opened a full-service corporate trust office in Los Angeles, California. The group offers local corporate trust administration--as well as Wachovia's exceptional capabilities in custody, securities lending, corporate trust and investment management--to the California marketplace.

Wachovia has hired Carl W. Becker as vice president to lead these efforts. In his new role, Becker will manage the office and work to grow its corporate trust practice.

"Wachovia is committed to being a part of California's dynamic future, and I'm certain Carl will play a major role in expanding our services on the West Coast," said Linda Delaney, managing director of Wachovia Corporate Trust.

Becker joins Wachovia from the Bank of New York Trust Company, N.A., where he was a relationship manager for the California State Treasurer's Office as well as more than 30 municipalities and agencies. Prior to that, he worked for the Los Angeles Housing Department and Bank of America. Becker earned his B.A. from Yale University, a graduate fellowship from the University of Pennsylvania's Department of City & Regional Planning and an M.B.A. from the University of Southern California.

Wachovia Corporate and Institutional Trust offers custodial services, securities lending, institutional clearing services, 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 27 cities in 17 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. Wachovia had assets of $506.8 billion, market capitalization of $80.3 billion and stockholders' equity of $46.5 billion at March 31, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 13 million household and business relationships primarily through 3,277 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 693 offices in 49 states and five Latin American countries. Its Corporate and Investment Bank serves clients primarily in 10 key industry sectors nationwide. 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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