PRESS RELEASES

Media Contact: Amy Hyland
(704) 383-4995

February 13, 2002
Wachovia Securities Announces David Haase Joins the High Yield Capital Markets Group

Charlotte, N.C. -- Wachovia Securities announced today that David R. Haase has joined the firm as a managing director in the High Yield Capital Markets Group, reporting to Jay Braden, head of the group.

“David has excellent experience in the high yield and leveraged finance markets,” said Braden. “His proven ability in both deal execution and origination make him a key part of our practice. David will be an important part of the long-term growth and strategy of our business.”

“Wachovia’s high yield capabilities are very competitive,” said Haase. “I’m excited to contribute to an aggressive practice with an excellent track record.”

Haase comes to Wachovia Securities from Indosuez Capital in New York, where he specialized in leveraged financing for middle-market companies. Before Indosuez, he worked at Chase Securities in the High Yield Finance Group covering a wide range of industries. Before joining Chase, Haase worked at Credit Suisse First Boston in the High Yield group. Haase has an MBA from Stanford Graduate School of Business and a BA from Brown University.

Wachovia Securities’ High Yield Capital Markets Group is comprised of a team of over 40 professionals. The practice specializes in origination, sales, research, and trading of high yield bonds.

Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $330 billion at December 31 and $28 billion in stockholders' equity. Wachovia is a leading provider of financial services 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 states and global services through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com and firstunion.com

Important Notice: Wachovia Securities is the trade name under which Wachovia Corporation conducts its investment banking, capital markets and institutional securities business through First Union Securities, Inc. (“FUSI”), Member NYSE, NASD, SIPC, and through other bank and non-bank and broker-dealer subsidiaries of Wachovia Corporation, including Wachovia Bank NA and First Union National Bank.

First Union Securities is the trade name under which Wachovia Corporation conducts its asset management and mutual fund, brokerage and insurance businesses through: (1) First Union Securities, Inc. (“FUSI”), a registered broker-dealer and member NYSE/NASD and SIPC; (2) First Clearing Corporation (“FCC”), a separately registered broker-dealer and member NYSE/NASD and SIPC, providing securities clearance and settlement services; (3) First Union Securities Financial Network Inc., a separately registered broker-dealer and member of the NASD and SIPC providing full-service brokerage services; (4) the Capital Management Group within First Union National Bank (“FUNB”), a national banking association, and its subsidiaries, providing asset management, lending, and fiduciary services; (5) various subsidiaries within Wachovia Corporation providing investment advisory, administrative and other services to the Evergreen and Mentor families of mutual funds; and (6) various wholly-owned state insurance agencies.

Stocks, bonds, mutual funds or other securities offered or sold through Wachovia Corporation or any of its bank or non-bank subsidiaries are not deposits of any bank and are not insured, guaranteed or otherwise protected by the Federal Deposit Insurance Corporation or any other government agency; are not endorsed or guaranteed by Wachovia Corporation, FUNB, WBNA, or any bank; and involve investment risk, including possible loss of principal.

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