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Media Contact: Bonnie Buchheit
(704) 383-2394

September 21, 2004
Wachovia Named One of the Top Ten Companies for Working Mothers

CHARLOTTE, N.C. - For the second year, Working Mother magazine has named Wachovia one of the top ten companies in America for working mothers. The magazine recognized Wachovia based on its programs and policies for child-care, leave for new parents, paid time off, flexible work arrangements, work/life benefits such as elder care and other employee programs.

"Working mothers have contributed so much to our company for so many years that it makes an honor like this especially meaningful," said Wachovia Chairman, President, and CEO Ken Thompson. "We are thrilled to be recognized and are committed to creating a work environment where all employees can realize their full potential."

"Wachovia has clearly shown a real commitment to helping working parents," said Working Mother Editor-in-Chief Susan Lapinski. "By spending a record $5.2 million last year on childcare benefits, granting new parents a parental leave package, and paying out $8 million in tuition aid, Wachovia has again shown itself to be a top company in America for working mothers."

"Wachovia's programs and policies allow employees to balance their careers with their personal lives, encouraging them to excel both at work and at home," said Paul George, Wachovia's director of Human Resources. "By listening to our employees and acknowledging their priorities, we can offer them the resources that they need to achieve success in all areas of their lives."

Some of Wachovia's best practices include:

Standardized education reimbursement plan available to every employee.
Adoption leave and 10 days Family Care Time leave in addition to generous Paid Time Off.
The Time Away From Work Community Service policy that gives employees four hours a month or six days per year to volunteer.
Employee discount program and concierge services which offer employees easy access to and savings from hundreds of businesses.
Leave policy that allows for 16 weeks with job guaranteed; up to three years of education leave and six months of personal leave.
Use of Flexible Work Options such as telecommuting and flexible hours.
Seven high-quality child-care centers in three locations, plus access to two others as backup; Family Care leave; and Inclement Weather child-care.
Thirty-four rooms for nursing mothers.
Domestic partner benefits which offer more flexibility for households and families.
A six percent matched savings, 401 (k), plan for all eligible Wachovia employees.

This is the second year in a row that Wachovia has been on Working Mother magazine's top-ten list. The company has also been recognized as best in the industry and best in class for family-friendly corporate culture.

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation, with assets of $418.4 billion, market capitalization of $58.3 billion and stockholders' equity of $32.6 billion at June 30, 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 12 million client relationships (including households and businesses), primarily in 11 East Coast states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states. Global services are provided through 32 international offices. Online banking and brokerage products and services also are available through Wachovia.com.