PRESS RELEASES

"Your financial health and how you handle debt is something everyone needs to understand. Our debt consolidation program addresses a variety of life situations to inform people about credit and using it properly," says Jeff Hulett, head of Equity Direct Lending for Wachovia. "In addition, anyone can contact a Mortgage Loan Counselor, who can talk to them about Wachovia loan products available to them for consolidating debt."

The five-part series walks participants through the process of evaluating their personal financial picture. Each section presents participants with facts to consider on debt, asks them to investigate several financial questions and provides action steps they can take to decrease debt.

Registered participants will receive the e-mails over a three-week period. The e-mails cover a variety of topics, such as:

• Determining if you need to consolidate debt and the five signs you’re carrying too much debt.
• Assessing your situation and knowing your credit history.
• Consolidating and paying off debt, options which include using current assets and obtaining a loan.
• Determining your home’s equity and the costs and benefits of a home equity loan.
• Putting debt behind you.

Anyone can register for the free program by logging on to www.firstunion.com/consolidate to complete a short sign-up form. Participants do not have to be First Union or Wachovia customers to use the program. Individuals can also call Equity Direct at 1-888-229-6046 Monday through Thursday, 8:00 a.m. – 9:00 p.m. ET and Friday, 8:00 a.m. – 6:00 p.m. ET to speak to a Mortgage Loan Counselor about debt consolidation programs.

Wachovia Corporation (NYSE:WB), created through the Sept. 1, 2001, merger of First Union and Wachovia, had assets of $320 billion and stockholder's equity of $29 billion at March 31, 2002. Wachovia is a leading provider of financial services to 20 million retail, brokerage and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 49 states and global services through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com and firstunion.com.