PRESS RELEASES

Media Contact: Leah Dering
704-383-0551

January 05, 2004
Wachovia's Global Financial Institutions Americas Group Hires Carlos Singer

Charlotte, N.C. - Wachovia announced today that Carlos Singer has joined the International Division's Americas group as the bank's relationship manager in Chile. Singer will be based in Santiago and will report to Ariel J. Marin, Managing Director and head of the South American region.

"Carlos brings a wealth of knowledge and experience to Wachovia and will enable us to expand our business relationships in Chile and the region," said Marin. "We are excited to welcome Carlos to our team, and we know he will excel."

Singer will focus on maintaining and enhancing relationships with Wachovia's financial institution clients in Chile, Peru and Bolivia. Wachovia, as a leading provider of Correspondent Banking Services in Latin America, is also a major supplier of Trade Finance facilities and Cash Management Services to financial institutions in the region.

Singer most recently worked as a director in the FIT Research Group, a Chilean financial advisory firm, where he worked to originate and structure deals in the international capital markets for Chilean corporates. Prior to that, he worked as Banco Santiago's relationship manager for Chile, based in New York, where he arranged trade finance, lending and capital raising transactions. Singer holds an MA in Government from Georgetown University and an MS in Economics from Boston University.

Global Financial Institutions Americas Group

The Americas Group is focused on delivering correspondent banking services to financial institutions in Canada, North America, South America, Central America and the Caribbean. With eight offices in South America as well as a major international processing center in Miami, the group is one of the major providers of payments, collections, trade, capital management, custody and Internet solutions to its market.

Wachovia's International Division

Wachovia's International Division has a 200-year legacy in International correspondent banking, is the world leader in SWIFT message type 700 trade volume and third-party trade processing and maintains more than 3,000 correspondent relationships in more than 130 countries. In Europe, Wachovia has six offices in the major financial capitals - London, Paris, Milan, Madrid, Hamburg and Frankfurt. The International banking group is also a leader in letter of credit volume and was the first bank in the world to allow its customers to initiate letters of credit by accessing a Wachovia web site.

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 $389 billion and stockholders' equity of $33 billion at Sept. 30, 2003. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 9 million households, including 900,000 businesses, primarily in 11 East Coast states and Washington, D.C. Its broker-dealer, Wachovia Securities, LLC, serves clients in 48 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services also are available through Wachovia.com.

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