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Media Contact: Mary Eshet
(704) 383-7777

Investor Contact: Alice Lehman
(704) 374-4139

August 13, 2002
Wachovia CEO and CFO Certify Financial Statements

CHARLOTTE, N.C. - Wachovia Corporation (NYSE: WB) announced today that its president and chief executive officer, Ken Thompson, and chief financial officer, Bob Kelly, affirmed the accuracy of Wachovia's Form 10-K report for 2001; Form 10-Q reports for the first and second quarters of 2002; Wachovia's 2002 proxy statement to shareholders and other 2002 filings. These certifications are in response to a June 27, 2002, order by the Securities and Exchange Commission requiring approximately 950 companies to certify the accuracy of financial reports. These certifications included no restatements and no conditions for acceptance.

"As the CEO, I have always assumed that I am morally responsible for the accuracy of our financial reports, so I am pleased to certify that our disclosures, including our financial statements, represent the true condition of our company," said Thompson. "Bob Kelly, our management team and I have made a commitment to our shareholders and to our board of directors to be an industry leader in corporate governance and financial disclosure."

Investors and others who are interested are encouraged to review the certifications signed by Ken Thompson and Bob Kelly on Wachovia's Investor Relations website at http://wachovia.firstunion.com. The certifications were included in a Form 8-K filed today with the SEC.

Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $325 billion and stockholders' equity of $30 billion at June 30, 2002. Wachovia is a leading provider of financial services to 20 million retail, brokerage and corporate customers 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.

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Wachovia common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol WB. Before the September 1, 2001, merger of First Union and the former Wachovia, the common stock traded on the NYSE as FTU.

Information on this site dated after September 1, 2001, is provided under the Wachovia name, while historical information dated before September 1, 2001, is provided under the First Union name. Please note that historical information may have become out of date and should not be considered current. Wachovia does not undertake any obligation to update the information as a result of new information or subsequent developments. In addition, any forward-looking information is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could cause results to differ from expectations may be found in Wachovia's reports filed with the SEC.

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