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In this supervisory role, Everett will plan, organize, direct and coordinate all aspects of the tournament. He will work closely with the tournament director, Kym Hougham, who will manage operations, marketing, and sales for the tournament.

"Mac is the perfect fit for this position," said Rick Priory, Chairman of Champions for Education, Inc., the Wachovia Championship Board of Directors formed to raise funds for education and oversee the event. "His strong ties to the corporate world and his passion for and commitment to the communities in which Wachovia does business make him the perfect ambassador for this world-class event."

"This opportunity is a natural extension of Mac’s role as the head of Wachovia’s Corporate and Community Affairs division," said Ken Thompson, CEO and president of Wachovia Corp., and board member of Champions for Education Inc. "His involvement will further Wachovia’s pledge to enhance education, increase charitable contributions and strengthen awareness of Wachovia’s new brand."

Everett is also chairman of the Charlotte Regional Sports Commission. He is a member of several boards and committees including the Greater Charlotte Chamber of Commerce, YMCA of Greater Charlotte and the United Way of Central Carolinas.

About the Wachovia Championship

The Wachovia Championship, a new official PGA TOUR event, will debut in Charlotte, N.C. in 2003. Wachovia Corporation, the fourth-largest financial services company in the United States, will be the title sponsor of the four-year event, beginning May 5-11, 2003, at Quail Hollow Club. The $5.6 million purse for the tournament is one of the highest on the TOUR, and guarantees the winner more than $1 million. The prize money, renowned golf course and facility, and early May time slot are expected to draw many of the stars on the PGA TOUR to the event. The nationally known educational foundation Teach For America is the primary charitable recipient of proceeds from the 2003 tournament.

About Wachovia

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.