PRESS RELEASES

Miller was chairman of the board and chief executive officer of Central Fidelity Banks Inc. when it merged with Wachovia in December 1997. He joined Central Fidelity’s predecessor, Central National Corporation, in 1972 as planning manager and held a variety of positions including chief financial officer before being named chairman and CEO in 1994.

Miller is trustee emeritus of the Medical College of Virginia Foundation, a director of the Metropolitan Richmond YMCA and a trustee of the United Way Services Endowment Foundation. He is a former member of the board of the Virginia Bankers Association and St. Christopher’s School. He also is a former chairman of the United Way Services of Richmond and a former director of the Richmond Metropolitan Chamber of Commerce.

"Lewis Miller has made many enduring contributions to banking in Virginia during the past three decades. It has been a great honor to have him lead Wachovia’s transition into the Commonwealth," said Stanhope A. Kelly, head of Wachovia’s banking division.

"Wachovia is fortunate to have a seasoned banker like Jim Cherry to assume this important leadership position," said Kelly. "He and his management team are focused on gaining and strengthening customer relationships to ensure the Wachovia promise is delivered throughout our markets in Virginia."

Cherry is a native Virginian with more than 25 years of banking experience. Since joining Wachovia in 1974, he has held senior management positions in corporate and regional banking. He served as head of Trust and investment Management before moving to Richmond in 1998 to assume his current position.

Cherry is a graduate of Hampden-Sydney College. He also completed the Young Manager’s Program at the Colgate Darden School of Business Administration at the University of Virginia. He is a trustee and past president of Sigma Nu International Fraternity, Lexington, Va. Cherry also serves as a board member of the Greater Richmond Chamber of Commerce, Greater Richmond Partnership, Virginia Bankers Association, Metropolitan Richmond Sports Backers and Maymont Foundation.