HISTORICAL FINANCIAL PRESS RELEASES

Media Contact: Christy Phillips Brown
(704) 383-8178

Investor Contact: Alice Lehman
(704) 374-4139

October 17, 2006
Wachovia Corporation Declares Cash Dividend on Common Stock

CHARLOTTE, N.C.— Wachovia Corporation (NYSE:WB) today announced that its board of directors approved the company's regular quarterly cash dividend on its common stock of 56 cents per share.

The common stock dividend is payable on December 15, 2006, to shareholders of record as of the close of business on November 30, 2006.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, providing a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services. Including the Golden West merger, which closed on October 1, 2006, Wachovia has retail and commercial banking operations in 21 states with 3,400 retail banking offices from Connecticut to Florida and west to Texas and California. In addition, two core businesses operate under the Wachovia Securities brand name: retail brokerage with 737 offices in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide. Other nationwide businesses include mortgage lending in 39 states and auto finance covering 46 states. Globally, Wachovia serves clients through more than 40 international offices. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com, and investment products and services at evergreeninvestments.com. At September 30, 2006, Wachovia had assets of $559.9 billion and market capitalization of $88.2 billion. On the same date, based on pro forma data, Wachovia's combined assets were approximately $700 billion and combined market capitalization was $107 billion.

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Wachovia common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol WB. Before the September 1, 2001, merger of First Union and the former Wachovia, the common stock traded on the NYSE as FTU.

Information on this site dated after September 1, 2001, is provided under the Wachovia name, while historical information dated before September 1, 2001, is provided under the First Union name. Please note that historical information may have become out of date and should not be considered current. Wachovia does not undertake any obligation to update the information as a result of new information or subsequent developments. In addition, any forward-looking information is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could cause results to differ from expectations may be found in Wachovia's reports filed with the SEC.