Wachovia Community News

Media Contact: Arati Randolph
704-383-6996

September 23, 2003
WACHOVIA NAMED ONE OF THE TOP TEN COMPANIES FOR WORKING MOTHERS
Wachovia also named "Industry Leader" and "Best in Class" for family-friendly corporate culture.

CHARLOTTE, N.C. - Working Mother magazine today named Wachovia one of America's ten best companies for working mothers. The magazine also named Wachovia an "Industry Leader" for the financial services industry and "Best in Class" for a family-friendly corporate culture. The magazine rated Wachovia based on its programs and policies for child care, leave for new parents, paid time off, flexible work arrangements, work/life benefits such as elder care, and other employee programs.

"We are committed to creating a company that offers working parents an environment where they can be successful," said Wachovia Chairman and CEO Ken Thompson. "This recognition from Working Mother is an honor."

"Wachovia has done an impressive job by executing programs that benefit employees and by creating a culture that allows balance. From concierge services to job-guaranteed time off for new moms to a variety of flexible scheduling options, Wachovia's offerings make it a family-friendly leader this year," said Jill Kirschenbaum, editor-in-chief, Working Mother magazine.

"Introducing and sustaining programs that help Wachovia's employees balance work and life is a priority for us," said Paul George, Wachovia's director of Human Resources. "Respecting and valuing the individual is one of our company values, and we consistently solicit and listen to employee feedback to ensure we are giving employees the resources and tools they need."

Some of Wachovia’s best practices include:

Employee discount program and concierge services which offer employees easy access to and savings from hundreds of businesses.
Standardized education reimbursement plan available to every employee.
Adoption leave and 10 days of Family Care Time leave in addition to generous Paid Time Off.
Leave policy that allows for 16 weeks with job guaranteed; up to three years of education leave and six months of personal leave.
The Time Away From Work for Community Service policy that gives employees four hours a month or six days per year to volunteer.
Use of Flexible Work Options such as telecommuting and flexible hours.
Seven high-quality child-care centers in three locations, plus access to two others as backup; Family Care leave; and Inclement Weather child care.
Twenty-seven rooms for nursing mothers.
Domestic partner benefits which offer more flexibility for households and families.
A six percent matched savings, 401(k), plan for all eligible Wachovia employees.

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. The company operates full-service banking offices in 11 East Coast states and Washington, D.C., and offers retail brokerage services in 48 of the 50 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com.

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