PRESS RELEASES

Curley comes to Wachovia Securities from Deutsche Banc Alex. Brown, where he worked for the past seven years in the firm’s Equity Private Placement Group.

“Reid has extensive experience in equity private placements, and we are excited he has decided to come to Wachovia Securities. Although we have offered private placements for some time, we are now in a position to centralize this practice and to offer our clients the benefit of Reid’s experience and leadership. The knowledge of Reid’s team, in combination with our extensive sponsor group relationships, will be a very good strategic fit,” said Jeff Armstrong.

Tim Wielechowski is also joining Wachovia Securities from the Equity Private Placement Group at Deutsche Banc Alex. Brown. He joins Curley’s team as a vice president. Before joining Deutsche Banc Alex. Brown, Wielechowski worked as an attorney at the Washington, D.C., law firm of Kirkland & Ellis, where he represented leveraged buyout funds and venture capital clients in a wide variety of M&A, recapitalization transactions, private and public equity and debt offerings.

“I look forward to joining Wachovia and being a part of a firm that is focused on serving mid-cap and emerging growth companies, as these clients will benefit most from this product. Many of the firms that have traditionally served these types of companies have disappeared over the years. Wachovia is well positioned in the market and has a lot of momentum,” said Curley.

Curley is a graduate of the University of Pennsylvania and holds an M.B.A. from the Darden Graduate School of Business at the University of Virginia.

Wielechowski is a graduate of the University of Pittsburgh and holds a J.D. from the George Washington University Law School.

Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $320 billion and stockholder's equity of $29 billion at March 31, 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.

Important Notice: Wachovia Securities is the trade name under which Wachovia Corporation conducts its investment banking, capital markets and institutional securities business through First Union Securities, Inc. (“FUSI”), Member NYSE, NASD, SIPC, and through other bank and non-bank and broker-dealer subsidiaries of Wachovia Corporation, including Wachovia Bank NA (“WBNA”).

First Union Securities is the trade name under which Wachovia Corporation conducts its asset management and mutual fund, brokerage and insurance businesses through: (1) First Union Securities, Inc. (“FUSI”), a registered broker-dealer and member NYSE/NASD and SIPC; (2) First Clearing Corporation (“FCC”), a separately registered broker-dealer and member NYSE/NASD and SIPC, providing securities clearance and settlement services; (3) First Union Securities Financial Network Inc., a separately registered broker-dealer and member of the NASD and SIPC providing full-service brokerage services; (4) the Capital Management Group within Wachovia Bank NA, a national banking association, and its subsidiaries, providing asset management, lending, and fiduciary services; (5) various subsidiaries within Wachovia Corporation providing investment advisory, administrative and other services to the Evergreen and Mentor families of mutual funds; and (6) various wholly-owned state insurance agencies.

Stocks, bonds, mutual funds or other securities offered or sold through Wachovia Corporation or any of its bank or non-bank subsidiaries are not deposits of any bank and are not insured, guaranteed or otherwise protected by the Federal Deposit Insurance Corporation or any other government agency; are not endorsed or guaranteed by Wachovia Corporation, WBNA, or any bank; and involve investment risk, including possible loss of principal.