Wachovia Rolls Out New Retirement Consultants to Support Bank Sales Channel

CHARLOTTE, Feb. 6 /PRNewswire-FirstCall/ -- Wachovia Corp. announced today that it has launched a new group of professionals to support its Wachovia Financial Center employees in helping meet the retirement needs of customers.

The 15 retirement consultants, located in markets throughout Wachovia's banking geographic footprint, will provide education, marketing and sales support for Wachovia's retirement planning tools and products, including IRAs, annuities(1) and investments.

The retirement consultants are part of Wachovia's ongoing focus on the retirement planning market. Over the past two years, Wachovia has introduced many new programs and initiatives aimed at helping consumers get in better shape for retirement.

"Planning for retirement is not something we can put off until a later date. The time to plan is now," said Bob Reid, President of Wachovia's Retirement and Investment Products Group. "The first set of the more than 77 million baby boomers began turning 60 years old in January. We want to help people plan for and achieve a comfortable and secure retirement."

Wachovia offers consumers a complimentary retirement consultation through its more than 3,100 Financial Centers. Consumers also can speak to trained and licensed retirement specialists by calling Wachovia's Retirement Resource Center at 888-840-2517. In addition, Wachovia Securities offers more comprehensive planning services through its sophisticated Envision(SM) investment-planning process(2).

"Wachovia offers a wide range of retirement products, services and tools that can help people no matter where they are in the planning cycle -- from those just starting out to those nearing or already in retirement," said Lynne Ford, Director of Sales, Marketing and Product for the Retirement and Investment Products Group. "Through the program we call Wachovia Retirement Solutions, we provide products, services and guidance to help meet customers' retirement needs."

The Retirement and Investment Products Group, a division of Wachovia's Capital Management Group, consists of retirement products and services for retail and institutional customers. Wachovia's Capital Management Group includes the Retirement and Investment Products Group, Wachovia Securities retail brokerage business, Evergreen Investments asset management business and the Securities Lending business.

Wachovia Corporation is one of the largest providers of financial services to retail, brokerage and corporate customers, with banking operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $520.8 billion, market capitalization of $82.3 billion and stockholders' equity of $47.6 billion at December 31, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve more than 13 million household and business relationships primarily through 3,131 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 719 offices in 49 states, Washington, D.C., and six Latin American countries. The Corporate and Investment Bank serves clients in selected industries nationwide. Global services are offered through 40 offices around the world. Online banking and brokerage products and services also are available through wachovia.com.

Securities and Insurance Products:

NOT INSURED BY FDIC OR ANY FEDERAL GOVERNMENT AGENCY -- MAY LOSE VALUE -- NOT A DEPOSIT OF OR GUARANTEED BY A BANK OR ANY BANK AFFILIATE

(1) Annuities and Insurance products are available through insurance subsidiaries of Wachovia Corporation and underwritten by non- affiliated insurance companies. Not available in all states. (2) Unlike financial planning, Envision does not include a detailed analysis of insurance, real estate investment or savings strategies. It also does not cover estate and tax planning

Wachovia Securities is the trade name under which Wachovia Corporation provides brokerage services through two registered broker-dealers: Wachovia Securities, LLC, member NYSE/SIPC, and Wachovia Securities Financial Network, LLC, member NASD/SIPC. Each broker-dealer is a separate non-bank affiliate of Wachovia Corporation.

First Call Analyst: Alice Lehman FCMN Contact: