ACB: Press Releases

Joint News Release

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected] Wachovia Jim Pierpoint (704) 374-6512	For Immediate Release August 1, 2005 #05-52
E-mail: [email protected]

WACHOVIA NAMED PREFERRED FOREIGN EXCHANGE PROVIDER TO MEMBERS OF ACB

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WASHINGTON, D.C. — Wachovia was named the preferred foreign exchange trading and service provider to members of America’s Community Bankers, providing global capabilities for the first time to most community banks.

Wachovia offers a complete range of foreign currency exchange and international funds transfer services, including Online FX Internet exchange trading and real-time pricing with automated 24-hour trade execution and support.

“We are excited to name Wachovia the preferred foreign exchange provider to our member financial institutions,” said William J. Kroll, ACB’s executive vice president of business services. “This new member-advantaged service will allow community banks to provide international wire services, including remittances to families abroad, satisfying another customer need within the community bank.”

Wachovia, the 4th-largest U.S. banking company, maintains foreign exchange desks in Charlotte, N.C., and London, providing correspondent financial institutions with global capabilities to manage volatile exchange rates.

“We are honored to be named the preferred provider of foreign exchange services to America’s Community Bankers,” said Drew Gross, managing director and head of Wachovia’s Foreign Exchange group. “This is a reflection of our longstanding commitment to serve community bankers, allowing them to offer global foreign exchange solutions to their customers.”

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $511.8 billion, market capitalization of $78.2 billion and stockholders’ equity of $47.9 billion at June 30, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 13 million household and business relationships primarily through 3,126 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 699 offices in 49 states and five Latin American countries. Our Corporate and Investment Bank serves clients primarily in 10 key industry sectors nationwide. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through Wachovia.com.

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