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Media Contact:   Iris Cumberbatch
(704) 374-2026

September 07, 2005
Wachovia Institutes Strategic Focus on Commercial Beverage/Bottling Industry, Hires Christopher Reynolds as Strategy Manager

CHARLOTTE, N.C. – Wachovia Corporation announced today that it is establishing a strategic focus on the commercial beverage/bottling industry in the U.S. and named  Christopher Reynolds the Commercial Banking strategy manager for the industry. In this new role, Reynolds will focus on relationship development among beverage distributors and bottling companies across the country. He is based in Palm Beach, Fla., and reports to Wachovia Wholesale Banking Executive Carlos Evans.

Reynolds joined Wachovia from the Merrill Lynch Global Bank Group, where he was a vice president in the Beverage Finance Group. A prominent beverage industry expert, Reynolds is a member of and well-known speaker at the National Beer Wholesaler Association and numerous state beer associations.

“Christopher brings extensive industry experience, strong business development skills and demonstrated leadership to this position," Evans said. "We are excited about this strategic move, which reflects the importance of the beverage and bottling industry to our growth plans. We are looking forward to Christopher’s contribution to our team, and to Wachovia as a whole, as we accelerate our momentum in this sector."

Reynolds attended George Washington University, studied at the London Business School and is a Certified Financial Manager.

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 west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $511.8 billion, market capitalization of $78.2 billion and stockholders’ equity of $47.9 billion at June 30, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 13 million household and business relationships primarily through 3,126 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 699 offices in 49 states and five Latin American countries. Our Corporate and Investment Bank serves clients primarily in 10 key industry sectors nationwide. 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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