PRESS RELEASES

With the merger of First Union and Wachovia on Sept. 1, 2001, the newly formed Wachovia Corporation, which still operates under the First Union and Wachovia names, brings a robust insurance offering though some of the highest-rated insurance companies in the industry.

"With Gomez.com ranking Pivot number one for ease-of-use in the Web site insurance marketplace, Wachovia Corporation is well-prepared to meet the insurance needs of consumers," said Lou E. Hensley, Co-President at Pivot. "Through the merger, a wide array of quality product lines, coupled with user-friendly educational content and quoting options, have been leveraged, resulting in enhanced online insurance capabilities for Wachovia Corporation’s insurance and annuity clients."

According to David deGorter, President of Wachovia’s Insurance Group for Capital Management, "The enhancement of our Web site is our commitment to consumers for a turnkey buying process. With consumers focusing more on their insurance and annuity needs, Wachovia Corporation strives to empower customers by providing essential educational tools, online glossaries, and policy owner services in a one-stop shopping solution platform using our enhanced online technology. " 

About Wachovia

Wachovia Corporation, created through the Sept. 1, 2001 merger of First Union and Wachovia with assets of $326 billion as of Sept. 30, is a leading provider of financial services to 19 million retail 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 47 states and global services through more than 30 international offices.

About Pivot

Pivot, with headquarters in Columbus, Ohio, is an insurance distribution technology platform provider offering products and connectivity with more than 50 leading insurance carriers. Pivot also provides fulfillment services through its multi-site call centers with nationally licensed representatives offering all major personal line products through its agency, Professional Direct Agency Inc. Client solutions include Web site private labeling, insurance carrier fulfillment services, conservation/customer retention services, and platform order-entry technology for annuity, life and long-term care products. Pivot offers consumer insurance products through partnerships and alliances with insurance companies, financial institutions, affinity groups and traditional agencies.

For more information about Pivot’s products and services, please contact David Koterba by e-mail at dkoterba@pivot.com, or phone at 614-825-5856, or visit www.pivot.com.

Note: The Web site links to Pivot resources are provided for information purposes only. The site is not owned, sponsored or endorsed by Wachovia, and Wachovia is not responsible for its content.