Wachovia Announces Spence to Retire

Sep 02, 2003, 01:00 ET from Wachovia Corporation

    WINSTON-SALEM, N.C., Sept. 2 /PRNewswire-FirstCall/ -- Wachovia Bank, N.A.
 announced that Will B. Spence, Jr., CEO for North and South Carolina banking,
 has elected to retire at the end of the year.
     Spence, a 34-year veteran of Wachovia, has held a number of leadership
 positions with the company.  In addition to his current role, he served as CEO
 of South Carolina banking, executive in charge of Wachovia's Consumer
 Financial Services Division, regional executive for the Central Region of
 North Carolina, regional retail banking manager for Wachovia's Southern
 Region, retail banking manager and city executive in Belmont, N.C.
     "Will has played a pivotal role in guiding the Carolinas Region through
 our recent deposit conversion with the First Union/Wachovia merger," said Ben
 Jenkins, head of Wachovia's General Bank.  "He has a long history of doing
 what's best for our employees, customers and the community.  With the
 conversion behind him, Will was ready for a change of pace and the opportunity
 to pursue personal interests.  While we will miss his expertise and passionate
 commitment to this market, we respect his decision and wish him all the best."
     Wachovia expects to name a successor well in advance of year-end.
     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 $364 billion and stockholders'
 equity of $32 billion at June 30, 2003.  The company operates full-service
 banking offices in 11 East Coast states and Washington, D.C., and offers
 retail brokerage services in 48 of the 50 states.  Global services are
 provided through more than 30 international offices.  Online banking and
 brokerage products and services are available through wachovia.com.

SOURCE Wachovia Corporation