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October 26, 2007
The Wachovia Foundation Responds to California Wildfires with $1 Million in Donations to Relief and Rebuilding Efforts
Grant to fund American Red Cross relief efforts, local nonprofit organizations crucial to future rebuilding

CHARLOTTE, N.C.—The Wachovia Foundation announced today that it is contributing $1 million to assist victims of the California wildfires.

"At The Wachovia Foundation, our commitment to communities includes supporting them when natural disasters strike. We want the people of Southern California to know that they will not face recovery and rebuilding alone. After a disaster like this one, it is the responsibility of all of us to come together to help our fellow citizens in great need," said Ken Thompson, chairman and CEO of Wachovia Corp. and board chairman for The Wachovia Foundation. "As with past contributions in response to natural disasters, our gift will help those who have been affected by this terrible event begin the process of rebuilding their lives and their communities."

A $100,000 grant to the American Red Cross will support the organization's National Disaster Relief Fund, which provides immediate emergency assistance to the victims of thousands of disasters each year, disasters like the wildfires in Southern California.

An additional $900,000 will be contributed to one or more community foundations or community development organizations operating in the areas most affected by the fires.

"Entire communities in Southern California have been devastated by this fire. The Wachovia Foundation is committed to helping families and businesses in their efforts to rebuild their communities," said Wachovia Western Banking Executive Pete Jones. "That's why the Foundation is taking a thoughtful and deliberate approach to identifying the local organizations that will play the most vital roles in rebuilding efforts."

The Foundation is also expanding its matching gifts program to allow an additional $1,000 per employee for donations they make to the American Red Cross National Disaster Relief Fund through Feb. 29, 2008. The program regularly allows matches of up to $4,000 per employee per year for donations employees make to educational institutions and other nonprofits.

About The Wachovia Foundation
The Wachovia Foundation is a private foundation that provides grants to eligible 501(c)(3) tax-exempt organizations to support four primary focus areas: Education, Community Development, Health and Human Services and Arts and Culture. The mission of The Wachovia Foundation is to build strong and vibrant communities, improve the quality of life, and make a positive difference.

About the American Red Cross
All American Red Cross disaster assistance is free, made possible by voluntary donations of time and money from the American people. You can help the victims of thousands of disasters across the country each year, disasters like the California wildfires, by making a financial gift to the American Red Cross Disaster Relief Fund, which enables the Red Cross to provide shelter, food, counseling and other assistance to victims of disaster. The American Red Cross honors donor intent. If you wish to designate your donation to a specific disaster please do so at the time of your donation. Call 1-800-REDCROSS or 1-800-257-7575 (Spanish). Contributions to the Disaster Relief Fund may be sent to your local American Red Cross chapter or to the American Red Cross, P.O. Box 37243, Washington, DC 20013. Internet users can make a secure online contribution by visiting www.redcross.org.