PRESS RELEASES

“Wachovia Corporation is pleased to have John join our distinguished board of directors,” said L.M. Baker, chairman of Wachovia Corporation. “We look forward to his leadership and guidance in helping our company achieve growth and success in the future.”

John Baker joined Florida Rock Industries in 1974 and has served in numerous leadership capacities with the company, which is one of the nation's leading producers of construction aggregates, a major provider of ready-mixed concrete and concrete products in the Southeastern and Mid-Atlantic states and a significant supplier of cement in Florida and Georgia. He was named executive vice president of the company in 1982, appointed president in 1989 and elected chief executive officer in 1996.

In addition to the Wachovia Board of Directors, John Baker also serves on the Board of Directors for Hughes Supply, Inc. and the National Stone, Sand and Gravel Association. He also serves as a board member for several civic organizations, including the YMCA of Florida First Coast and the River Club of Jacksonville.

John Baker fills a vacancy on Wachovia’s board created by Erskine Bowles’ resignation to focus on his U.S. Senate campaign.

A native of Jacksonville, Fla., John Baker is a graduate of Princeton University and holds a law degree from the University of Florida.

Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia with assets of $326 billion as of September 30 and $29 billion in stockholders' equity, is a leading provider of financial services to 19 million retail 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 48 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.