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Media Contact: Jim Pierpoint
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April 29, 2004
Wachovia Securities Names Ben Williams Head of Newly Formed Global Capital Markets Group
Global Capital Markets structure to build on strong momentum of Wachovia Securities' equity, fixed income businesses

CHARLOTTE, N.C. -- Wachovia Securities announced today the formation of a Global Capital Markets group integrating its equity and fixed income businesses into a single division headed by Ben Williams, Managing Director. Williams will report to Steve Cummings, Managing Director and head of the Corporate and Investment Bank.

The Global Capital Markets structure will better enable Wachovia Securities to coordinate the delivery of capital markets products to its corporate clients, while continuing to create innovative investment options for institutional clients and build on the firm's recent record revenue and earnings momentum, Cummings said.

"We have generated strong momentum in our equity and fixed income businesses, and I am looking to our Global Capital Markets group to build on that success," Cummings said. "Ben has had a long and successful career with Wachovia leading several important business units within the Corporate and Investment Bank, and I am excited to have him in this important role as head of Global Capital Markets."

Wachovia Securities Global Capital Markets group will include the Equity Capital Markets, Equity Linked Products, and Fixed Income divisions. Mickey Misera, Managing Director and head of Equity Capital Markets, and Todd Steinberg, Managing Director and head of Equity Linked Products, and Curtis Arledge, Managing Director and head of Fixed Income, will continue to manage their respective groups, reporting to Williams.

"I am enthusiastic about the opportunity to more closely align our Equity Capital Markets, Equity Linked Products and Fixed Income Divisions," Williams said. "The formation of a Global Capital Markets structure is a strong next step for Wachovia Securities, enabling us to provide integrated capital markets solutions for both our corporate and institutional clients."

Williams, 42, previously had been head of Wachovia Securities Debt Markets group, which included the Fixed Income and Credit Capital Markets groups. Prior to that, he was head of the Fixed Income Division, and led the formation of Wachovia Securities leading Real Estate Capital Markets group. Williams, who first joined Wachovia Securities in 1984, holds a B.A. in Economics from Davidson College and a M.S. in Real Estate from the Massachusetts Institute of Technology.

Wachovia Securities includes the Corporate and Investment Bank of Wachovia Corp., the nation's fourth-largest bank holding company by assets. Wachovia Securities provides investment banking and capital markets services, as well as Treasury Services and International correspondent banking.

About Wachovia
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation, with assets of $411.0 billion, market capitalization of $61.7 billion and stockholders' equity of $33.3 billion at March 31, 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 12 million household and business client relationships. Its full-service retail brokerage firm, Wachovia Securities LLC, serves clients in 49 states. Global services are provided through 32 international offices. Online banking and brokerage products and services also are available through Wachovia.com.

Wachovia Securities is the trade name for the Corporate and Investment Banking Services of Wachovia Corporation and its subsidiaries, including its broker-dealer Wachovia Capital Markets LLC, member NYSE, NASD, SIPC.

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