Wachovia Community News

Wachovia Championship: Lee Patterson
(704) 553-4792

October 31, 2007
WACHOVIA CHAMPIONSHIP DONATES $1,000,000 TO TEACH FOR AMERICA
Total Charitable Contributions Exceed $7.5 Million In First Five Years

CHARLOTTE, N.C., October 31, 2007—The 2007 Wachovia Championship, featuring a record-breaking performance by the world's No. 1 ranked player Tiger Woods, announced today a $1 million donation to its primary charitable beneficiary, Teach For America.

In its first five years, the Wachovia Championship has donated over $7.5 million to Teach For America and other charities. This year's overall charity contribution of $1.95 million represents a 24% increase over total contributions in 2006.

Teach For America is the national corps of top college graduates who commit two years to teach in under-resourced public schools and become lifelong leaders in the pursuit of educational equity.

"One of this tournament's goals is to assist Teach For America reach its dream that all children receive a quality education," said Tournament Chairman Mac Everett. "We are proud to be affiliated with such a positive organization and share the same values with Teach For America."

Today, more than 5,000 Teach For America corps members are reaching nearly 444,000 students in 26 urban and rural regions nationwide, while more than 12,000 alumni are working in education, policy, law, medicine and other professional sectors to effect the broader changes needed to bring about educational equity in our country.

"We are honored to have the Wachovia Championship's ongoing support and are grateful for its partnership in working toward our vision that one day all children in this country will have the opportunity to attain an excellent education, " said Wendy Kopp, CEO and founder of Teach For America. "The generous support we receive from the Wachovia Championship has allowed us to build a force of young leaders who have brought about significant gains in student achievement in thousands of classrooms across the country and continue far beyond their two-year commitments to effect the changes necessary for ensuring educational opportunity for all."

"We have been able to provide consistent support to Teach For American thanks to Wachovia Corporation, our volunteers, corporate partners and the thousands of patrons who attend our tournament each year," said Kym Hougham, Wachovia Championship Executive Director. "It is always a pleasure to see the positive influence Teach For America is having in communities and we are proud to be on their team."

"At Wachovia, we're incredibly proud of the Wachovia Championship because it consistently delivers a first-class experience for players, attendees and viewers," said Shannon McFayden, Wachovia's director of Human Resources and Corporate Relations. "But most of all, we're proud that it supports one of the country's most important and influential nonprofit organizations-one that is determined to see the day when every child has equal access to excellent teachers and a quality education."

About the Wachovia Championship
The Wachovia Championship is one of the largest, most prestigious sporting events in the Charlotte region. Now leading up to its sixth year, the tournament is intended as an annual tradition that will bring customers, players and patrons back each year for an unforgettable golf experience. The national and international golf community has recognized it as one of the top events on the PGA TOUR. The 2008 tournament will be held April 28-May 4. Sponsored by Wachovia Corporation (NYSE:WB), the tournament's $6.3 million purse is one of the largest on the PGA TOUR. A combination of Quail Hollow Club, the spirit of the Charlotte area community and the support of Wachovia are several reasons the Wachovia Championship has and should continue to draw many of the world's top golfers to Charlotte.

For more information, visit the tournament website, www.wachoviachampionship.com.

About Wachovia
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, with assets of $754.2 billion and market capitalization of $95.3 billion at September 30, 2007. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to 13 million household and business customers. Wachovia has 3,400 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. Our retail brokerage operations under the Wachovia Securities brand name manage more than $800 billion in client assets through 11,400 registered representatives in 786 offices nationwide. The acquisition of A.G. Edwards, Inc., following the end of the third quarter, added approximately 740 offices, 6,300 financial consultants and $384 billion in brokerage client assets. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com; and investment products and services at evergreeninvestments.com.

About Teach For America
Teach For America is the national corps of outstanding recent college graduates who commit two years to teach in urban and rural public schools and become lifelong leaders in expanding educational opportunity. This year, more than 5,000 corps members are teaching in over 1,000 schools in 26 regions across the country, and more than 12,000 Teach For America alumni continue working from inside and outside the field of education for the fundamental changes necessary to ensure educational excellence and equity. For more information, visit www.teachforamerica.org.

Editor's Note: For the tournament logo or course maps in JPG, EPS or PDF format, please refer to www.wachoviachampionship.com.

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