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First Union and Wachovia

Media Contact:   Amy Hyland
(704) 383-4995

Advertising Contact:   Shika Raynor
(704) 715-3213

Media Contact:   Tony Mattera
(804) 787-6872

July 16, 2002
WACHOVIA DEBUTS NATIONAL TV CAMPAIGN
Television Ads Promote Corporate and Investment Banking and Brokerage Units

CHARLOTTE, N.C. - Wachovia Corporation will unveil a new television advertising campaign on July 20 to promote Wachovia Securities, the brand under which Wachovia provides corporate and investment banking and retail brokerage services. The television ads continue to illustrate the theme "Uncommon Wisdom" that first appeared in Wachovia Securities print ads in May.

The television campaign includes seven spots that use metaphors to convey the unique perspective that Wachovia Securities brings to financial relationships with clients. These spots are also the first to run on national television since Wachovia and First Union merged in September 2001.

"These commercials position Wachovia Securities as an established and capable securities firm that is also approachable and humble," said Jim Garrity, head of Corporate Marketing for Wachovia Corporation. "We want to reach forward-thinking, entrepreneurial CEOs, CFOs and managing partners of mid-cap companies as well as active individual investors with this message."

The new spots, which were created by Mullen of Winston-Salem, N.C., are set to debut July 20 and July 21 during the British Open and during 60 Minutes on July 21. They will also air on cable and network channels such as CNN, CNNfn, CNBC, Bloomberg and PGA Golf and NFL Football.

"The campaign drives home the point that Wachovia Securities benefits customers with its thoughtful approach," said John Fitzgerald, president of Mullen in Winston-Salem. "The ads are intended to be unique within the financial services industry, reflecting Wachovia's distinctive perspective."

Wachovia Securities Brokerage Group, the nation’s fifth-largest brokerage firm, offers financial advisory, brokerage and other financial services to individual investors and businesses. The Wachovia Securities Corporate and Investment Banking Group provides capital raising, lending, research and strategic advisory capabilities to corporate clients.

Wachovia Corporation will launch print and television advertising for its retail and wholesale customers in November in Florida, where the company will complete its first regional deposit conversion.

About Wachovia Corporation

Wachovia Corporation (NYSE:WB), created through the Sept. 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.

 


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