Press Releases

“The 2001 merger of Wachovia and First Union brought together two of the industry’s strongest treasury services providers,” said Ranjana Clark, head of Wachovia’s Treasury Services Division. She continued, “This conference is the perfect venue for us to introduce the combined product solutions and service enhancements we offer as the country’s second-largest cash management provider, and to introduce something we are very excited about—our new brand identity.”

Wachovia, now the nation’s fourth-largest bank, has 11 out of 17 treasury service products ranked “A” or “A+” by Phoenix Hecht, a third-party provider of market research and education for the financial services industry. Additionally, seven of the Bank’s 10 key treasury product capabilities are ranked either first or second for market share in Ernst & Young’s survey.

Wachovia’s Treasury Services Group will host two newly branded displays at this year’s conference, including one exhibit booth for demonstrations of its expanded product solutions, such as Global Financial Services, Image Services and Treasury Consulting Services.

“The AFP Conference provides us with an excellent opportunity to hear what’s on the minds of our customers regarding their business challenges and cash management needs, and to introduce the two legacy markets to the new services and products we have to offer as the united Wachovia,” said Michael Daley, head of Wachovia’s Treasury Products Solutions Group.

Along with Clark, a number of Wachovia executives will attend the AFP this year including Daley; Chris Hartman, head of Sales & Advisory Services; Henry Waszkowski, head of Wachovia’s Treasury Consulting Group; and Paul Hyson, head of the International Corporate Products Solution team. Colleagues from Wachovia Corporate and Institutional Trust, Corporate and Investment Banking and Evergreen Investments will also be present at the conference.

Also, for the sixth year running, Wachovia sponsored the annual Pinnacle Awards to be awarded in the Grand Opening Session. The 2002 Pinnacle Awards are designed to recognize companies that have demonstrated innovation, insightful use of technology, and strategic partnering to implement creative treasury services solutions in their companies.

About Wachovia

Wachovia Corporation (NYSE:WB) was created through the September 1, 2001, merger of First Union and Wachovia and had assets of $334 billion and stockholder's equity of $32 billion at September 30, 2002. Wachovia is a leading provider of financial services to 20 million retail, brokerage and corporate customers throughout the East Coast and the nation. Wachovia is also the nation’s second-largest treasury management services provider for both domestic and international treasury management and consulting services. Cash flow solutions include, among other products, e-commerce, integrated payables and receivables, information reporting via Web or PC, and risk management. 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. Online banking and brokerage products and services are available through wachovia.com and firstunion.com.