PRESS RELEASES

Ms. Davis, as previously announced, will become head of Wachovia Operational Services Corporation upon the retirement of Walter E. Leonard Jr. in February 2000. In this role, she will serve as Wachovia’s technology and operations chief. She currently is director of Human Resources for the corporation.

Kelly will assume a newly created position as executive in charge of banking activities in Wachovia’s home states. In this position, Kelly will provide leadership to Wachovia Bank chief executive officers and presidents located in Florida, Georgia, North Carolina, South Carolina and Virginia. He has served as head of the Consumer Financial Services Division since 1996 with responsibility for Consumer Banking, Small Business Services and Marketing.

McLean will continue to serve as executive in charge of the Corporate Services Division, the position he assumed in January 1999. He has responsibility for corporate banking and capital markets services in Wachovia’s national and international markets.

Truslow will continue as treasurer and comptroller of the corporation with responsibility for the treasury and control functions in all Wachovia member companies.

L. M. Baker Jr., Wachovia chief executive officer, said, "These four individuals are responsible for Wachovia’s largest divisions and most significant activities. Each has made major and lasting contributions to Wachovia’s success, and we are fortunate to have them to help lead the company into the next century."

Ms. Davis joined Wachovia in 1985. She has served as a corporate accounts officer, Chapel Hill office executive, Greensboro office executive and regional executive for the Piedmont Triad. She also assisted the Consumer Financial Services Division with development of key consumer initiatives and coordinated Wachovia’s mergers with Jefferson Bankshares and Central Fidelity Banks in Virginia. She was elected executive president and assumed her current position in 1998.

She is a native of Durham and a graduate of the University of North Carolina at Chapel Hill. She received a master’s degree in business administration from the Fuqua School of Business at Duke University.

Kelly joined Wachovia in 1980. He has held assignments in Raleigh and Winston-Salem, including Personal Banker, branch manager, corporate banker, retail banking manager, North Carolina Retail Banking manager, county executive, and regional executive. He was elected executive vice president in 1997.

Kelly is a native of Raleigh, N.C. He received a bachelor's degree in business administration from North Carolina State University and completed the Executive Program at the University of North Carolina at Chapel Hill.

McLean joined Wachovia in 1975 and has held Loan Administration assignments in Winston-Salem, Greenville, N.C., and Atlanta. He also has served as manager of Management Accounting and Financial Analysis, comptroller of Wachovia Corporation, head of the Consumer Credit and Emerging Businesses Division and head of the Capital Markets Division. He was elected executive vice president in 1997 and assumed his current position in January 1999.

McLean is a native of Savannah, Ga. He received a bachelor's degree in industrial engineering from the Georgia Institute of Technology and a master's degree in business administration from Southern Illinois University at Edwardsville.

Truslow joined Wachovia in 1980 and has held management assignments in International Banking and General Loan Administration in Winston-Salem, Atlanta and Greensboro. He also served as chief credit officer of South Carolina Banking in Columbia and manager of the Middle Market Corporate Banking Group. He was named comptroller in 1996 and was elected executive vice president in 1997 and treasurer in 1998.

Truslow is a native of Summit, N.J., and a graduate of the University of Virginia.