CHARLOTTE, N.C., Oct. 5 /PRNewswire-FirstCall/ -- Wachovia does not
believe Justice Ramos' order has any effect on the validity of the Wells
Fargo agreement with Wachovia.
Wachovia continues to believe its agreement with Wells Fargo, which
involves no government assistance, is proper and valid. The agreement is in
the best interests of shareholders, employees, creditors and retirees as
well as the American taxpayers and it imposes no risk to the FDIC fund.
Under that agreement, Citigroup is always free to make a superior offer
to Wachovia.
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
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Related links:
http://www.wachovia.com
CONTACT:
Media Contacts, Christy Phillips-Brown,
+1-704-383-8178; or Investor Contacts, Alice Lehman,
+1-704-374-4139, or Ellen Taylor, +1-212-214-1904, all of
Wachovia
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