Wachovia And Its Employees Respond To Hurricane Katrina

WASHINGTON, Sunday, September 04, 2005 — Charlotte, N.C. – Wachovia announced today that it is partnering with the American Red Cross to support relief efforts. Wachovia is making a $250,000 contribution to the American Red Cross relief fund and has posted a link on the wachovia.com Web site to enable employees and customers to contribute to the fund online. Wachovia partnered with the American Red Cross to support relief efforts after last year's Florida hurricanes and the tsunami in South Asia and East Africa.

The company is also providing funds through the Wachovia Matching Gifts program to match employee donations of up to $1,000 to any eligible charity. This program reflects Wachovia's overall approach to philanthropy, which is employee-driven.

Wachovia also is working to locate employees in the affected areas and provide them with assistance and support. Yesterday, Wachovia disaster relief teams delivered truckloads of food, water, generators and other needed items to employees in Mobile, Ala., and Pascagoula, Miss. More deliveries are scheduled. Relief teams are working with authorities to gain access to Biloxi and Gulf Shores.

"Hurricane Katrina has had devastating consequences. I'm proud that, in addition to our corporate outreach, our employee volunteers are helping meet the needs of people affected by this terrible event," said Wachovia Chairman and CEO Ken Thompson.

Wachovia employees affected by the disaster are eligible to receive funds from the Wachovia Employees Care (WE Care) Fund. WE Care is funded by employee donations and provides emergency grants for employees facing severe financial hardship after natural disasters, national emergencies and personal or family crises.

Wachovia has extended ATM fee waivers and offered emergency loan assistance to individuals affected by the hurricane.

In addition to these efforts, Wachovia employees are reaching out to help:

• Employee teams in Wachovia's Mid-South market—Alabama, Mississippi, Northwest Florida and Tennessee—are gathering toiletries, clothing, food and other essentials.
• Employees from the company's Treasury division are partnering with Loomis, Fargo & Co. to quickly deliver supplies of cash to Louisiana business clients, including supermarkets and retail chains. This service will help these businesses open as quickly as possible with a supply of petty cash.

ABOUT WACHOVIA
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 $511.8 billion, market capitalization of $78.2 billion and stockholders' equity of $47.9 billion at June 30, 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 3,126 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 699 offices in 49 states and five Latin American countries. The Corporate and Investment Bank serves clients primarily in 10 key industry sectors nationwide. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through Wachovia.com.