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Media Contact:   Angela Parker
(704) 383-0412

Wachovia Education Finance:   Chris Farrell
(916) 631-5564

December 07, 2004
Wachovia's New DoubleTakeSM Sweepstakes Awards Both Students and Schools Cash Scholarships

RANCHO CORDOVA, Calif.  – Wachovia Education Finance announced the launch of its new DoubleTakeSM Sweepstakes that rewards both students and schools with $2,500 cash scholarships. Students and parents can enter online at educaid.com/doubletake each quarter throughout 2005 for a chance to win.



With DoubleTake, when a student wins, so does their school. Each time Wachovia Education Finance awards a student with a $2,500 scholarship, their accredited school will also win an additional $2,500 for their general scholarship fund.

“DoubleTake is a unique program that not only rewards winning students, but awards an additional $2,500 scholarship to their school to be used to assist other students in need,” stated Robin Johnson, Vice President of Marketing for Wachovia Education Finance. “With four drawings for 2005, it’s one more way Wachovia is helping families cover the costs of education.”

Wachovia’s commitment to higher education is stronger than ever, with over $1 million donated to Teach for America in 2004 and a suite of sweepstakes programs that have awarded nearly a quarter of a million dollars in scholarships this year alone.

Wachovia Education Finance was rated first in technology and customer service in a recent survey of college Financial Aid offices conducted by one of the nation’s top consulting firms.


About Wachovia Education Finance

Established in 1984 as “Educaid,” Wachovia Education Finance is one of the top 10 student loan providers in the United States and does business with over 4,000 schools in all 50 states and in U.S.territories. In addition to the corporate office in Rancho Cordova, California , the company also has regional offices in Florida, Texas, Ohio and Delaware. More information can be obtained by visiting Educaid.com.

About Wachovia

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and retail brokerage operations nationwide. Wachovia had assets of $436.7 billion, market capitalization of $61.4 billion and stockholders’ equity of $33.9 billion at September 30, 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 12 million client relationships (including households and businesses), primarily in 11 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through Wachovia.com.


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