PRESS RELEASES

Anderson, who will focus on the Energy and Power sector , was a Senior Managing Director and Head of Investment Banking at Dominick & Dominick, LLC, a private wealth management and investment banking firm.   During his 23-year Wall Street career, he also worked in equity capital markets at Credit Suisse First Boston and predecessor Donaldson, Lufkin & Jenrette, where he was instrumental in helping build that firm’s equities business.

Hu joined Wachovia Securities from Morgan Stanley, where he worked for the past 18 years, most recently as Global Head of Equity Product Innovation.  Hu has held a variety of positions within both Corporate Finance and Equity Capital Markets and will focus on Financial Sponsors and Financial Institutions Groups.

“Duff and Brad each bring a tremendous amount of investment banking and capital markets experience to Wachovia Securities and are extremely talented individuals.  We’re excited to have them on board” Stevens said.

Anderson received a B.A. from Williams and an M.B.A. from Harvard Business School.   Hu holds B.S. and M.S. degree from the Massachusetts Institute of Technology, and an M.B.A. from the Amos Tuck School of Business Administration at Dartmouth College.

Wachovia Securities last year was an underwriter on 97 equity offerings and lead manager on 34 of those transactions.  The firm’s equity capital markets business has grown at a compound growth rate of 25 percent over the past five years. 

Wachovia Securities Equity Division provides origination, sales and trading of cash, convertible and equity derivatives.  The division is part of the Wachovia Securities Global Capital Markets group, which also includes the Fixed Income Division and Global Research group.

Wachovia Securities is a full-service investment bank providing clients with debt and equity financing, loan syndication, derivatives, equity investments, asset securitization, treasury services and international correspondent banking.  The firm also provides equity, fixed income and convertible research, financial sponsors coverage, corporate finance and mergers and acquisitions advisory services.

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $493.3 billion, market capitalization of $83.5 billion and stockholders’ equity of $47.3 billion at December 31, 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve customers primarily in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states and five Latin American countries. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through Wachovia.com.

Wachovia Securities is the trade name for the corporate and  investment banking, institutional brokerage and securities research businesses of Wachovia Corporation and its subsidiaries, including Wachovia Capital Markets LLC, member NYSE, NASD, SIPC.  Wachovia Securities is also the trade name for the retail brokerage businesses of  Wachovia Corporation and its subsidiaries including Wachovia Securities, LLC, member NYSE, NASD, SIPC.