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Wachovia Bank

Full financial services through offices along the East Coast in 11 states - Connecticut, New York, New Jersey, Pennsylvania, Delaware, Maryland, Virginia, North Carolina, South Carolina, Georgia and Florida — plus Washington, D.C. Full-service retail brokerage with offices in 49 states through Wachovia Securities LLC. Global services through 32 international offices.

Assets:

$418 billion

Average Deposits:

$239 billion

Stockholders' Equity:

$33 billion

Headquarters:

Wachovia Corporation
301 South College Street, Suite 4000
One Wachovia Center
Charlotte, North Carolina 28288-0013  (704) 374-6161

Investor Relations:

301 South College Street
One Wachovia Center NC 0206
Charlotte, North Carolina 28288

Ranking:

Fifth largest bank holding company in the United States based on assets. Third largest U.S. full-service brokerage firm based on client assets.

Customers:

12 million households and businesses; 7 million online product and service enrollments; 2.5 million active online customers.

Employees:

Over 85,000

Financial Centers:

Personal service and advice through 2,500 financial centers and more than 720 retail brokerage offices. These staffs include nearly 11,000 registered representatives.

ATMs:

Convenient access to 4,400 automated teller machines.

Toll-Free Banking:

(800) 922-4684

Online Services:

Banking -  www.wachovia.com
Brokerage - www.wachoviasec.com

Products & Services:

Complete banking services, retail brokerage services, asset management, wealth management, and innovative products for individual customers. Financial expertise in treasury services, corporate and investment banking, and international banking for business customers. Also offer credit and debit card products, trust services, mortgage banking, and home equity lending.

Key Subsidiaries:

Wachovia Bank, N.A., Wachovia Mortgage, Wachovia Securities, LLC

Management:

G. Kennedy Thompson

Chairman, President and CEO

Robert P. Kelly

Chief Financial Officer

Stock:

1.3 billion shares of common stock outstanding. Stock trades on the New York Stock Exchange under the WB symbol.

Capital:

Exceeded all 2004 regulatory guidelines
(actual)

Tier 1:

8.36% (4% minimum)

Total:

11.32% (8% minimum)

Leverage:

6.23% (3-5% minimum)

Asset Quality:

Loans written off as losses as a percent of average loans: less than 1% (0.17%). Nonperforming assets as a percent of loans and leases: less than 1 percent (0.55%).

Debt Rating:

Senior debt rated Aa3 by Moody Investor Service, A by Standard & Poor's and A+ by Fitch.

History:

The former Wachovia (founded in 1879 in Winston, NC) and First Union (founded in 1908 in Charlotte, NC) merged on September 1, 2001, to create Wachovia Corporation. Wachovia (pronounced wa-KO-vee-yah) is the Latin form of the name Wachau, which was given to the tract of land in the Piedmont region of North Carolina settled by Moravians in 1753. The name honored the settlers' connections to the Wachau Valley along the Danube River.