PRESS RELEASES

Media Contact: Elizabeth Hodges
(704) 383-5188

March 17, 2003
Wachovia Corporate and Institutional Trust Announces New Hires

JACKSONVILLE, Fla. - Wachovia Corporate and Institutional Trust announced today that it has added two consultants to Wachovia Information Consulting Group (WICG). The group provides comprehensive, cost-effective consultation for claims processing and similar information management needs of corporations, law firms and government agencies. Frank Dominguez and Larry Laskiewicz will work out of Wachovia's Jacksonville office and will report to Tony Reid, executive managing director of Wachovia Information Consulting Group.

"Frank's project management experience with claims administering and processing, coupled with Larry's legal expertise and experience in mass tort claims processing, discovery services and litigation, will help provide efficient and cost-effective solutions to complex business and litigation challenges," said Reid.
Frank Dominguez, managing consultant, previously worked for the Financial and Claims Services division of Navigant Consulting as a senior engagement manager, where he specialized in claims processing and data management consulting. Dominguez received a B.A. in Business Administration from New Mexico State University.
Larry Laskiewicz, director, is an attorney who joined Wachovia from Georgia-Pacific Corporation, where he served as Corporate Counsel-Litigation, and for more than 13 years was responsible for directing asbestos litigation with Owens Corning. Laskiewicz received his J.D. from the University of Akron and his B.A. from the University of Toledo.
"The addition of Frank and Larry to WICG illustrates our commitment to providing top-notch solutions to organizations that process volumes of claims, transactions or other types of paper or electronic data," said Reid. "We are excited about taking this group to the next level."

Wachovia Information Consulting Group is a full-service operation that helps clients plan and implement data management and processing solutions. The group also offers banking and investment services, such as escrow, positive pay, check clearing and account reconciliation, through other Wachovia units.

WICG services include:
Information management consulting
Class action settlement administration
Mass tort/complex claims management
Bankruptcy claims management
Data collection and conversion
Litigation discovery services
Escrow and investment management
Call center operations
Wachovia Information Consulting Group is part of the Corporate and Institutional Trust group of Wachovia Bank, N.A., which offers retirement services, bond administration, custody services, insurance products and investment management to institutional clients worldwide. Based in Charlotte, N.C., Wachovia Corporate and Institutional Trust has 40 regional locations in 17 states and the District of Columbia.

Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $342 billion and stockholders' equity of $32 billion at December 31, 2002. Wachovia is a leading provider of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 49 of the 50 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com.

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