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July 30, 2003
Clay Aiken Announces Start of Bubel-Aiken Foundation
American Idol star makes surprise proclamation during Wachovia's Manhattan grand opening

CHARLOTTE, N.C. - Wachovia's Manhattan financial center grand-opening festivities Monday were punctuated by a surprise announcement from Clay Aiken, the American Idol II runner-up who joined New York City Mayor Michael Bloomberg and Wachovia executives for a press conference and ribbon-cutting ceremony in Rockefeller Plaza. After a grand entrance and a few kind words about Wachovia, Aiken, a North Carolina native and long-time Wachovia customer, surprised all in attendance by announcing he would like to open the first official account in the name of his new Bubel-Aiken Foundation, which he said he was starting to benefit mentally challenged children.

"The Bubel-Aiken foundation is something I was going to have Wachovia help me set up and manage anyway, so I just thought 'why not do it today,'" said Aiken. "Diane Bubel is a close friend of mine from home and she changed my life because she's the one who encouraged me to audition for American Idol. That's why I'm starting this foundation in her name. Hopefully we can make some positive changes in the lives of children with mental disabilities."

Wachovia, which opened its first two Manhattan retail financial centers Monday in Rockefeller Plaza and at Madison Avenue & 45th, granted Aiken's request and gave him the honor of opening the first official account at the Rockefeller location. Ben Jenkins, head of Wachovia Corporation's General Bank, graciously accepted the offer to open the Bubel-Aiken Foundation account for Aiken, which was completed immediately following the press conference, and also offered to make a $10,000 donation in Wachovia's name.

"We are thrilled that Clay Aiken thinks so highly of Wachovia that he would announce the start of his foundation during our grand-opening celebration," said Jenkins. "Despite his meteoric rise to fame, Clay remains true to his passion - helping those in need. Wachovia is proud to help Clay make the Bubel-Aiken Foundation a success."

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation, with assets of $364 billion and stockholders' equity of $32 billion at June 30, 2003. Its four core businesses, the General Bank, Capital Management, Wealth Management and the Corporate and Investment Bank, serve nine million households, including 900,000 businesses, primarily in 11 East Coast states and Washington, D.C. Its broker-dealer, currently operating under the names Wachovia Securities, LLC, and Prudential Securities Division of Wachovia Securities, LLC, serves clients through 700 offices in 48 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services also are available through wachovia.com.

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