PRESS RELEASES

“WITS, a structure under development for several months, are tier 1 capital qualifying perpetual trust preferred securities,” said Thomas Wurtz, Executive Vice President and Treasurer.  WITS are issued to investors by Wachovia Capital Trust III (the “Trust”), a Delaware trust sponsored by Wachovia. Each WITS represents an interest in the Trust, corresponding to a junior subordinated note issued by Wachovia and a 1/100th interest in a stock purchase contract. The stock purchase contract will be settled through Wachovia’s sale to the trust of a series of non-cumulative perpetual preferred stock. Proceeds from the WITS offering will be used for general corporate purposes.

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with banking operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $520.8 billion, market capitalization of $82.3 billion and stockholders’ equity of $47.6 billion at December 31, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve more than 13 million household and business relationships primarily through 3,131 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 719 offices in 49 states, Washington, D.C., and six Latin American countries. The Corporate and Investment Bank serves clients in selected industries nationwide. Global services are offered through 40 offices around the world. Online banking and brokerage products and services also are available through Wachovia.com.

A registration statement (including a prospectus) has been filed with the SEC for the offering to which this communication relates. You may obtain these documents by contacting Wachovia Securities at 1-800-326-5897 or by sending a written request to Wachovia Securities at 8739 Research Drive, Charlotte, NC 28262, Attention: Syndicate Operations, NC0675.  Alternatively, you may obtain these documents by visiting EDGAR on the SEC Website at www.sec.gov. Wachovia Securities is the trade name for the corporate and investment banking services of Wachovia Corporation and its subsidiaries, including Wachovia Capital Markets, LLC, member NYSE, NASD, SIPC.