PRESS RELEASES

Media Contact: Leah Dering
704-383-0551

April 22, 2003
Wachovia Treasury Services to Participate in Payments 2003 Conference
Wachovia to sponsor two sessions and several speakers, April 27-30, 2003

Charlotte, N.C. - Wachovia Treasury Services announces its participation in the 28th Annual Payments Conference in Orlando, Fla., hosted by NACHA, the National Automated Clearing House Association. Wachovia Treasury Services will sponsor two major conference sessions, the eStrategy Forum and the Business ePayments Solutions track. Several of Wachovia's Treasury Service professionals will also make presentations in Orlando. The Payments Conference is the nation's premier conference on electronic payment experiences, trends, solutions and best practices.

"Our participation in NACHA's Payments Conference shows our commitment to innovation and advancement in the delivery of electronic cash management solutions," said Mark Havlik, head of Wachovia's Treasury Services Electronic Payments Product Group. "This conference is the perfect venue for us to gain and share knowledge of electronic payments and how they integrate into other treasury management solutions we provide."

The eStrategy Forum, to be held on April 29, will be a moderated panel session including senior-level decision-makers from corporate treasury and payment areas. The panel will discuss challenges and perspectives on the migration from checks to electronic payments. The Business ePayments Solutions track will include more than 35 sessions, held over the three days of the conference, on topics ranging from recent developments in electronic payments law to maximizing electronic payments capabilities to fraud and risk mitigation practices.

Wachovia will also have several Treasury Services professionals who will be presenting at the conference. Presentation topics will include:
"Electronic Collection of Payments from Multiple Billing Systems" - M. Alison Quigley, Vice President, Team Leader - Electronic Payments Solutions; Michael Rossi, Vice President, Large Corporate Sales Officer - North East Region; Kristie Sims, Assistant Vice President, Implementation Project Manager, Retail Lockbox/E-box
"Reducing ACH Credit Risk with Real-Time Authorizations" - Penny Page, Vice President, Product Consult - ACH and Wire Transfer
"Creating a Small Business Internet Product and Packaging it for the Market" - Kimberly S. Pace, Vice President, Business Banking Segment Management within Treasury Services
"How the NACHA Operating Rules Affect Third-Party Service Providers" - Richard G. Leary, Senior Vice President, ACH Services Manager
Wachovia, the nation's fifth-largest bank and second-largest cash management provider, has 11 out of 17 treasury service products ranked "A" or "A+" by Phoenix Hecht, a third-party provider of market research and education for the financial services industry. Additionally, seven of the bank's 10 key treasury product capabilities are ranked either first or second for market share in Ernst & Young's survey.

About Wachovia
Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $348 billion and stockholders' equity of $32 billion at March 31, 2003. Wachovia is a leading provider of financial services to 20 million retail, brokerage and corporate customers throughout the East Coast and the nation. Wachovia is also the nation's second-largest treasury management services provider for both domestic and international treasury management and consulting services. Cash flow solutions include, among other products, e-commerce, integrated payables and receivables, information reporting via Web or PC, and risk management. 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 48 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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