Wachovia Plans to Open Salem, Oregon Contact Center in June 2004

FOR IMMEDIATE RELEASE - March 14, 2005

Wachovia announced today it will open a $20 million contact center in Salem, Oregon, by year-end. To be located at the intersection of State Street and Hawthorne Avenue, the 108,000-square-foot, state-of-the-art center will house nearly 500 teammates who will handle requests for service from the company's retail and investment customers.

Wachovia chose to locate its new center in Salem after narrowing down a list of more than 100 potential locations. The company currently has a total of 13 contact centers, all located in the East Coast region between Connecticut and Florida.

"We are very excited about opening our Salem contact center," said Steve Boehm, general manager of Wachovia's contact centers. "No other location we considered was comparable. Salem is a wonderful city with an excellent business climate, strong community spirit and a talented pool of potential teammates."

Boehm added, "We have been impressed with how well we have been received by Salem Mayor Janet Taylor, Oregon Governor Ted Kulongoski, Marion County commissioners, representatives of Oregon's Economic & Community Development Department, SEDCOR and Chemeketa Community College, and everyone we have met in Salem and the state. We are looking forward to being a strong and committed business and community partner in Salem."

With customers located in every region of the nation, Wachovia's decision to open a contact center in Salem increases the company's effectiveness at serving its customers 24 hours a day.

"It is outstanding that Wachovia is bringing 500 high-quality jobs and opportunities for advancement to our community," said Salem Mayor Janet Taylor. "But what I am most excited about is Wachovia's commitment to the communities they serve."

"Capturing a brand like Wachovia is a prize for Oregon," said Governor Ted Kulongoski. "I welcome the prospect of 500 family wage jobs in Salem and the start of a new and significant relationship with Wachovia for Salem and our state."

About Wachovia Corporation

Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation, with assets of $411.0 billion, market capitalization of $61.7 billion and stockholders' equity of $33.3 billion at March 31, 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 12 million client relationships (including households and businesses), primarily in 11 East Coast states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states. Global services are provided through 32 international offices. Online banking and brokerage products and services also are available through Wachovia.com.

Media Contact:: Kevin Bezner 704.374-4331