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Wachovia Announces Tom Wurtz Stepping Down as CFO; Company To Conduct Immediate Search for Replacement

    CHARLOTTE, N.C., July 24 /PRNewswire-FirstCall/ -- Wachovia announced
today that Thomas J. Wurtz plans to leave Wachovia as Chief Financial
Officer (CFO) after a successor is named to the role. The company will
begin an immediate search for a replacement.

    "I want to personally thank Tom for his many contributions to
Wachovia," said Robert K. Steel, President and CEO of Wachovia. "Tom has
been a professional partner and colleague and we are grateful for all he
has done for the company."

    Wurtz added, "I'm honored that I had the privilege to serve Wachovia as
CFO for the past two and half years and as Treasurer for seven years.
Wachovia is an excellent company with a very bright future. In the past few
weeks, I have enjoyed working with Bob. His strong leadership will help the
company build on its core strengths and emerge successfully from the
current environment."

    About Wachovia

    Wachovia Corporation (NYSE: WB) is one of the nation's largest
diversified financial services companies, with assets of $812.4 billion and
market capitalization of $33.5 billion at June 30, 2008. 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 3,300 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 $1.1 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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    CONTACT:
    Media, Christy Phillips-Brown
    +1-704-383-8178, Investors, Alice Lehman, +1-704-374-4139; Ellen
    Taylor, +1-212-214-1904, all of Wachovia Corporation