PRESS RELEASES

The IJL Wachovia Investment Fund provides $50,000 for students to invest. They then manage their portfolio through an academic year. If the portfolio appreciates over that period, IJL Wachovia makes a contribution to the Kenan-Flagler Business School equal to the appreciation amount. Should the portfolio lose value, IJL Wachovia would absorb the losses.

"Education is a top priority of our firm," said Edwin A. Dalrymple, senior managing director of IJL Wachovia. "We work hard to educate investors and to stress the importance of basing decisions on sound financial information. With the IJL Wachovia Investment Fund, undergraduate students can learn investing principles that will serve them for a lifetime."

In a "test run" of the fund during the spring semester, the Undergraduate Investment Club managed a portfolio for 11 weeks and saw its $50,000 seed money grow to $54,621.

Dalrymple recently presented a check for $4,621 to Robert S. Sullivan, dean of the Kenan-Flagler Business School.

"We look forward to being back on campus next year – hopefully with an even larger check as students hone their investing skills," said Dalrymple.

Dean Sullivan offered praise for the members of the Undergraduate Investment Club and its adviser, Professor Mustafa Gultekin.

"We always are pleased to receive contributions, but this one is special, for it comes directly from the efforts of our students," Sullivan said. He noted that the IJL Wachovia Investment Fund offers a double benefit by enhancing the education of students now on campus and providing funds to enrich the learning of students in future classes.

"This is the perfect example of investing for the long term," he said.

IJL Wachovia provides securities brokerage and a full range of investment products and services to businesses, institutions and individuals in the Southeast. Based in Charlotte, IJL Wachovia has 62 offices in the Carolinas, Georgia and Virginia.

IJL Wachovia is a division of Wachovia Securities Inc., which is a subsidiary of Wachovia Corporation (NYSE:WB), the nation’s 16th largest bank holding company.