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PRESS RELEASES


April 23, 1999
Wells to Head Consolidated Consumer Banking Division at Wachovia

Wachovia Corporation announced today that the responsibilities of Beverly B. Wells, executive in charge of the Consumer Credit Division, are being expanded to include the Consumer Financial Services Division.

Ms. Wells currently oversees Wachovia’s credit card, sales finance, mortgage origination and Digital Financial Services areas. In addition, she now will have responsibility for the Consumer Banking Sales and Service, Small Business Services and Marketing groups.

G. Joseph Prendergast, senior executive vice president in charge of Wachovia’s Banking Division, said, "Bev Wells’ diverse and accomplished background will serve Wachovia well as she undertakes this new opportunity. This realignment will create a seasoned and exceptional consumer banking team with an appreciation for both the critical value of our branch system and the emerging channels, technologies and capabilities that must continue to be developed and deployed to the benefit of our customers and shareholders."

Ms. Wells joined Wachovia in 1976 and has held various operations positions, including manager of systems development for student financial services and manager of the Institutional Operations Center of Wachovia Operational Services. She also has served as manager of the Corporate Product Management Group and the Treasury Services Group. She was named president of Wachovia Bank Card Services and executive in charge of Wachovia’s national credit card bank in Wilmington, Del., in 1994. She assumed her current position and was elected executive vice president of the corporation in 1997.

Ms. Wells is a native of Mount Airy, N.C., and a graduate of the University of Illinois. She completed The Executive Program of the Colgate Darden Graduate School of Business at the University of Virginia and also received certified cash manager certification in 1989.


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