CHARLOTTE, N.C., March 18 /PRNewswire-FirstCall/ -- Effective today,
Wachovia Corporation (NYSE: WB) lowered its prime interest rate to 5.25
percent from 6 percent at Wachovia Bank, National Association, and all of
its other banking subsidiaries.
The prime rate is a benchmark used to set interest rates on various
forms of corporate and consumer credit. It is one of several interest rate
bases used by Wachovia, which lends at interest rates above and below the
prime rate. The prime rate last changed on Jan. 30, 2008.
About Wachovia
Wachovia Corporation (NYSE: WB) is one of the nation's largest
diversified financial services companies, with assets of $782.9 billion and
market capitalization of $75.3 billion at December 31, 2007. Wachovia
provides a broad range of retail banking and brokerage, asset and wealth
management, and corporate and investment banking products and services to
customers through 3,400 retail financial centers in 21 states from
Connecticut to Florida and west to Texas and California, and nationwide
retail brokerage, mortgage lending and auto finance businesses. Globally,
clients are served in selected corporate and institutional sectors and
through more than 40 international offices. Our retail brokerage operations
under the Wachovia Securities brand name manage more than $1.2 trillion in
client assets through 14,600 financial advisors in 1,500 offices
nationwide. Online banking is available at wachovia.com; online brokerage
products and services at wachoviasec.com; and investment products and
services at evergreeninvestments.com.
SOURCE Wachovia Corporation
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Related links:
http://www.wachovia.com
http://www.wachoviasec.com
http://www.evergreeninvestments.com
http://www.prnewswire.com/comp/314125.html/
CONTACT:
Media, Christy Phillips-Brown,
+1-704-383-8178, or Carol Clarke, +1-704-383-5188; or Investors,
Alice Lehman, +1-704-374-4139, Ellen Taylor, +1-704-383-1381, all
of Wachovia Corporation
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