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During his 24-year career with Wachovia, Newell has served in several leadership roles, most recently as Wealth Management Director for the Carolinas. Newell will be based in Winston-Salem, reporting to Stanhope Kelly, president of Wachovia Wealth Management.

He assumes leadership of Wachovia’s personal trust operation at a time when the company is investing for growth in the business. Over the last 18 months, the company has added 85 sales professionals and client service associates, and plans to add 46 new trust administrators by year-end. The company also launched an enhanced client servicing model, a new technology platform and purchased 900 new computers to enable trust officers to deliver better service. Wachovia Trust has also developed new branding and marketing materials and implemented a client satisfaction survey, with results showing that client satisfaction is at an all-time high.

“Bob Newell assumes this role at an important time in the history of our trust company,” said Kelly. “The demand for trust products is increasing as Baby Boomers liquefy their assets and receive their inheritances. We are investing in this business with a vision to be the nation’s pre-eminent and most respected trust provider.”

Wachovia Trust services include comprehensive trust administration, investment management, philanthropic advisory and estate settlement services through more than 70 trust offices along the East Coast, nationwide through Wachovia Securities offices and a Cayman Island Trust subsidiary. Other services include trust tax and law, closely held business, special needs trust, international trust, real estate, planned giving and foundations, as well as other charitable services for individuals and institutions.

ABOUT WACHOVIA WEALTH MANAGEMENT
Wachovia Corporation (NYSE:WB) is the 4th largest wealth manager in the country, according to Barron’s 2004 ranking of U.S. Wealth Managers. Wachovia is one of the largest providers of financial services to retail, brokerage and corporate customers in the nation, with assets of $511.8 billion, market capitalization of $78.2 billion and stockholders’ equity of $47.9 billion at June 30, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 13 million household and business relationships primarily through 3,126 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients through 699 offices in 49 states and five Latin American countries. The Corporate and Investment Bank serves clients primarily in 10 key industry sectors nationwide. Global services are offered through 33 international offices. Online banking is available through wachovia.com.

A photo of Bob Newell is available. Contact Josh Dunn at 704-374-4828.