PRESS RELEASES

Lacharite has been responsible for managing the JP Morgan Chase Corporate Trust office serving Alabama, Tennessee, Georgia, Florida and Louisiana. He has experience in trustee services, escrows, and investment management and is a graduate of Trinity College with an MBA from New York University. Lacharite originally entered the business working for Bankers Trust in New York but has also spent time with Bank of Boston and Bank One.

“Our strategic imperative is to demonstrate our commitment to this business by seeking out the best and the brightest talent in the industry and building upon our world-class team of professionals,” said Linda Delaney, senior vice president and managing director of First Union Corporate Trust Group.

First Union Corporate Trust Group is part of the Capital Management Group, First Union’s asset management business, which includes the 5th largest national brokerage firm. Corporate Trust offices are located in Charlotte, NC; Columbia, SC; Boston, MA; Hartford, CT; Morristown, NJ; Philadelphia, PA; New York, NY; Richmond, VA; Wilmington, DE; Atlanta, GA; Nashville, TN; Houston, TX; Jacksonville, FL; Miami, FL.

Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $330 billion at December 31 and $28 billion in stockholders' equity. Wachovia is a leading provider of financial services throughout the East Coast and the nation. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 49 states and global services through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com and firstunion.com.