PRESS RELEASES

Media Contact:   Elizabeth Hodges (704) 383-5188 Investor Contact:   Alice Lehman (704) 374-4139 June 30, 2004 Wachovia Corporate and Institutional Trust Hires J.M. Cunniff, Jr. as New Business Development Officer for Structured Finance Trust Services CHARLOTTE, N.C. - Wachovia Corporate and Institutional Trust announced today that it has hired J.M. Cunniff, Jr. (Joe) as new business development officer in its Structured Finance Trust Services group. He will cover trustee sales for asset-backed securities, mortgage-backed securities and document custody product lines throughout the East Coast. Cunniff will be based in Boston. Utilizing leading-edge systems and technology, Structured Finance Trust Services deals with all types of structured financings, such as asset-backed and mortgage-backed securities, tax liens and leveraged lease transactions. "Our growing team is well positioned to be a leading player in the structured finance industry," said John Shope, national sales director of Corporate and Institutional Trust. "With strategic hires like Joe, who has over 25 years of experience, we continue to improve our position in the marketplace. Joe keenly understands the intricacies of the capital markets and has significant experience creating and providing tailored solutions to suit clients' specific needs." Cunniff began his career as an accountant with Keystone Investment Management, and then joined The Boston Company where he held positions in accounting, marketing and systems. In 1989, Cunniff joined State Street Bank in the Corporate Trust Sales group. At State Street, he was responsible for mortgage-backed, asset-backed and collateralized debt-obligation sales. Cunniff has also held sales positions with Bank One and US Bank. He holds a B.S. in accounting from Salem State (Massachusetts) College and has completed postgraduate work at Boston University. Structured Finance Trust Services can serve as indenture trustee, owner trustee, bond administrator and calculation agent, collateralized debt administrator, warehouse collateral agent, document custodian and cash manager. Wachovia Corporate and Institutional Trust offers retirement services, custodial services and investment management, conventional and structured finance trust solutions, equity services and information management and claims processing to institutional clients worldwide. Based in Charlotte, N.C., Wachovia Corporate and Institutional Trust has 40 locations in 18 states plus the District of Columbia. 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 client relationships (including households and businesses), primarily in 11 East Coast states and Washington, D.C. 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.

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