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April 29, 2005
Wachovia Retirement Services Receives Honors for Small Business Retirement Plans

Charlotte, NC - Wachovia Retirement Services has earned Plansponsor magazine's "Best in Class" award for services to small business owners. Nevin Adams, editor of Plansponsor, presented the award in recognition of Wachovia's rankings in the magazine's 2004 annual defined-contribution plan survey.

"The micro market is the fastest growing segment among defined-contribution plans," said Adams. "This award reflects the sentiment among plan sponsors that Wachovia Retirement Services provides a good value for small business owners."

Each year, Plansponsor surveys employers, roughly 4,000 in 2004, to gauge their satisfaction with plan providers. The "Best In Class" award demonstrates the highest satisfaction levels among plan sponsors who rated their providers in several categories. "We've been working hard over the past four years to bring high-touch, affordable services to small business owners," said Kerry Gile, national sales manager for Wachovia Retirement Services. "We believe small businesses deserve the same level and quality of service that larger plans have traditionally enjoyed. This award confirms that we are on the right track with this important sponsor group."

In the past year, Wachovia has expanded its small business suite of retirement plans with the introduction of One Plan, an individual 401(k), and an enhanced 401(k) product for emerging companies that includes advanced features, such as managed accounts, that previously have been available only to large companies. The company has dedicated significant resources to the small business market, including 20 wholesalers serving this market segment.

About Wachovia Retirement Services

With more than $70 billion in assets under administration as of March 31, 2005, 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 4,800 plans and more than 1.2 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 $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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