PRESS RELEASES

Prior to joining Wachovia, Tinkey worked for the past seven years at Banc of America Securities, most recently as a large-loan originator and regional program manager responsible for Southeast CMBS loan production and processing. Tinkey has held senior positions in all facets of the commercial mortgage-backed securities business from origination through securitization.

“We consider Florida one of the top five commercial real estate markets in the nation, and John will be committed one hundred percent to maintaining our strong presence here,” said Charles Culbreth, managing director of Wachovia Securities’ Commercial Real Estate Finance group.

Tinkey is an associate member of the Appraisal Institute, a Certified Commercial Investment Member candidate, and holds both Series 7 and Series 63 real estate licenses. He earned a BBA in real estate finance from Georgia State University.

Wachovia Securities’ Commercial Real Estate Finance Group provides long-term, fixed-rate, non-recourse mortgage financing for placement in the CMBS market. Wachovia Securities was the nation’s leading CMBS securitizer in the first half of the year, securitizing $1.6 billion in mortgages, according to Commercial Mortgage Alert.

Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $325 billion and stockholder's 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.

Important Notice: Wachovia Securities is the trade name under which Wachovia Corporation conducts its corporate and investment banking services, asset management and mutual fund, brokerage and insurance businesses through: (1) Wachovia Securities, Inc. (“WSI”), 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) Wachovia 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.