PRESS RELEASES

Based in suburban Philadelphia, Brinker Capital uses its state-of-the-art technology platforms to assist financial advisers in meeting the investment needs of a broad range of individual and institutional investors.

Wachovia has only recently begun marketing its personal trust products externally. The company began by marketing its trust products to brokers within Wachovia Securities, the nation’s fifth largest brokerage firm, with client assets of $240 billion. Bringing together its brokers and its trust advisers became possible in 2000, after the company successfully built a technology bridge to link its brokerage accounting system to its trust accounting system. Brokers maintain their role as financial advisers to their clients, while trust advisers provide the fiduciary expertise to administer the trust. The trusts will be administered in Delaware, providing clients the opportunity to receive the benefits of Delaware law.

Peter Welber, head of Personal Trust at Wachovia Wealth Management, said that by giving financial advisers more products to offer, Wachovia is helping them keep their clients longer.

“The average life for a client to keep an investment product is 3-4 years, whereas the average life of a personal trust is 9 to 17 years,” Welber said. “Most people get to know their financial advisers on a very personal basis, and they don’t want to start over with new advisers as their needs change over time. Our service allows the client to continue working with the advisers they already know and trust.”

Clients are turning more to their financial advisers for help in finding their way through today’s challenging market environment, said John E. Coyne, III, principal and national sales director, Brinker Capital.

Coyne said: "Increasingly clients are looking to their financial advisers to coordinate all of their complex financial needs. This package of sophisticated asset management and trust services will allow advisers to offer their clients comprehensive and quality advice. At Brinker Capital, our goal is to deliver the highest quality asset management services to financial advisers and clients. By partnering with Wachovia Trust Company, we are able to deliver a powerful and attractive combination of our asset management and their trust services.”

Wachovia Trust Company will make its platform of trust services available directly to investment firms that do not currently have a relationship with Wachovia, as well as to client firms of First Clearing Corporation, a Wachovia subsidiary that provides brokerage clearing, technology and product support to correspondent brokerage firms nationwide.

Wachovia markets a wide range of personal trust products and services to financial advisers through a business-to-business eCommerce platform that gives them all the sales, marketing and account management tools they need to provide personal trust products directly to their clients.

The company offers its partners the flexibility of allowing Wachovia’s investment professionals to manage their clients’ trust assets or of using the investment managers of their choice. Wachovia’s trust advisers manage all types of assets, including securities, real estate, collectibles and business assets, and have 200 years of experience in personal trust.

Financial partners also have flexibility in how they market Wachovia’s personal trust products and services to their clients. They may use a co-brand (using both companies’ names), a non-competing brand or a private label.

About Wachovia

Wachovia holds the oldest trust charter in the U.S., dating back 200 years, and is the nation’s second largest personal trust provider, with $54 billion in assets under management. Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $334 billion and stockholder's equity of $32 billion at September 30, 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.

About Brinker Capital

Founded in 1987 by Charles Widger, Brinker Capital is an investment consulting firm and provider of managed account and mutual fund services. It is the oldest and most experienced independent provider of managed account services in the country. Brinker Capital works with financial advisers to meet the investment needs of a broad range of individual and institutional investors. Brinker Capital was founded on the principle that no two investors are alike, and on the strong belief that all investors should have access to personalized investment services that were once only available to the largest institutions. Brinker Capital offers investment manager due diligence, asset allocation and client communication services, all designed to help financial advisers meet the investment needs of their clients.