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Media Contact: Ferris Morrison
(704) 383-8164

April 25, 2005
Wachovia No. 1 in Small Business Lending by Dollar Volume for Third Year in a Row
Company tops list with $9.7 billion in loans

CHARLOTTE, N.C. - Wachovia Corporation announced today that it is the No. 1 small business lender within its markets by dollar volume, based on data from the Federal Financial Institutions Examination Council.

This marks the third year in a row Wachovia topped the list by dollar volume. Wachovia small business loans increased more than $400 million in 2003 to $9.7 billion. Wachovia issued loans totaling $9.3 billion in 2002. Small business loans reported to the FFIEC include loans of up to $1 million.

In addition to the top spot within its markets, Wachovia ranked No. 1 in dollar volume in Delaware, Florida, New Jersey and Pennsylvania. The company is second in Connecticut, Georgia, Maryland, North Carolina, South Carolina, Virginia and Washington, D.C.

"Wachovia is committed to helping small businesses across our footprint grow, prosper and succeed," said Will Howle, head of Wachovia's Small Business and Private Advisory Group. "We go to great lengths to ensure we meet the needs of small businesses by providing expert advice and unmatched customer service."

Wachovia serves small businesses through its financial centers and with small business bankers, small business financial specialists and business banking relationship managers who advise small business owners and understand what they need. One of its premier products for small businesses, the Business Equity Line, allows small business owners to tap the equity in their primary residence to support their business.

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $506.8 billion, market capitalization of $80.3 billion and stockholders' equity of $46.5 billion at March 31, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 13 million household and business relationships primarily through 3,277 offices in 15 states and Washington, D.C.

Wachovia Small Business Lending
State Wachovia Rank Within Markets
Connecticut 2
Delaware 1
Florida 1
Georgia 2
Maryland 2
New Jersey 1
New York 7
North Carolina 2
Pennsylvania 1
South Carolina 2
Virginia 2
Washington 2
11 States plus D.C. 1