CHARLOTTE, N.C., Sept. 30 /PRNewswire-FirstCall/ -- Wachovia
Corporation remains well capitalized after Monday's announcement to sell
certain Wachovia businesses to Citigroup. Wachovia Corporation is
supporting its operating subsidiaries including Wachovia Securities and
Evergreen Investments. Wachovia is in a strong position to provide credit
support and overall capital backing to key businesses, including retail
brokerage, asset management, retirement services and capital markets. In
addition, the Federal Reserve Bank stands ready to provide liquidity as
needed.
Wachovia also noted that Citigroup's use of government assistance in
connection with its purchase of certain Wachovia businesses is not
dependent on the financial services relief plan legislation the U.S.
Congress has been considering.
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 http://www.wachovia.com ; online brokerage products
and services at http://www.wachoviasec.com ; and investment products and
services at http://www.evergreeninvestments.com .
SOURCE Wachovia Corporation
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Related links:
http://www.wachovia.com
http://www.wachoviasec.com
http://www.evergreeninvestments.com
CONTACT:
Media Contacts: Christy Phillips-Brown,
+1-704-383-8178, Investor Contacts: Alice Lehman,
+1-704-374-4139, or Ellen Taylor, +1-212-214-1904, all of
Wachovia Corporation
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