Press Releases

“Since launching the Evergreen Connect k product last year, we have received an overwhelmingly positive response from small business owners and financial professionals that are using the product,” said Joe Ready, director of First Union’s Benefit Services Group. “The one thing that was missing, however, was the ability for companies who already have a 401(k) plan to convert their current 401(k) plan assets into an Evergreen Connect k plan. By adding conversion capabilities to the plan, we now are able to offer Evergreen Connect k both to companies that want to start a new plan as well as those that already offer their employees a 401(k) plan.”

Accessible at www.EvergreenConnectk.com, Evergreen Connect k is a unique internet-based 401(k) plan in that it offers plan sponsors and participants the option of personalized human interaction. When registering for Evergreen Connect k, plan sponsors may elect to work with a financial professional in setting up and maintaining their 401(k) plan. Plan sponsors control the amount of interaction they desire from the financial professional by choosing from multiple service programs; sponsors may elect to work directly with their financial professional or may choose to handle all aspects of their plan online.

To set up an Evergreen Connect k plan, companies may visit www.EvergreenConnectk.com or call toll free 866.368.3436 to be paired with a local financial professional.

About First Union’s Benefit Services Group

With $50 billion in assets under care, First Union’s Benefit Services Group offers a wide array of retirement products and is the 16th largest defined contribution provider in the nation. First Union is committed to providing fully-bundled defined contribution, defined benefit and nonqualified retirement plans that exceed customer expectations. Headquartered in Charlotte, North Carolina, First Union’s Benefit Services Group services retirement plans for over 575,000 participants. For more complete information about First Union’s retirement products, please visit them on the web at www.firstunion.com/401k or call 800.917.9343.

First Union’s Benefit Services Group is a subsidiary of Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia with assets of $330 billion and $28 billion in stockholders’ equity (as of December 31). Wachovia Corporation is a leading provider of financial services to 19 million retail 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.