Wachovia Signs Sponsorship Agreement with U.Va. Athletics

October 31, 2006

Oct. 31, 2006 — Wachovia Corporation and the University of Virginia athletics department announced today a seven-year partnership featuring the Wachovia brandmark on the basketball court in the John Paul Jones Arena. It also extends a 2003 agreement for Wachovia to continue as the exclusive financial services partner for Virginia athletics.

“We are honored the Virginia athletics department has chosen Wachovia as its financial services partner,” said Randy Koporc, northwest regional president for Wachovia Bank, N.A. “It is a privilege for us to be a part of the University of Virginia in a visible way and a testament to Wachovia’s commitment to this great region.”

Virginia Athletics Director Craig Littlepage is pleased the department’s affiliation with Wachovia is continuing.

“This is a relationship that is mutually beneficial and we are pleased to continue our affiliation with Wachovia,” Littlepage said. “Wachovia has been with us as a ‘Team Virginia’ partner since 2003, and we recognize the importance of continuing that relationship. This agreement transfers the court branding for Wachovia from University Hall to the John Paul Jones Arena.

“As a ‘Team Virginia’ partner, Wachovia will receive exposure throughout the Virginia athletics department’s multimedia channels, including radio, print, prominent permanent signage, and ‘Hoo Vision and LED ribbon board video display recognition in numerous athletics facilities,” Littlepage explained.

The integrated sponsorship will continue through the 2012-2013 academic year. The facilities where Wachovia will receive exposure include the John Paul Jones Arena, Klöckner Stadium, Davenport Field at the Virginia Baseball Stadium, the Aquatic & Fitness Center, and the Carl Smith Center, home of David A. Harrison III Field at Scott Stadium.

“We are pleased to renew this partnership and to continue supporting the University of Virginia athletics program,” said Dan Fleishman, director of sponsorships and alliances for Wachovia. “The University of Virginia is well-respected and shares Wachovia’s values of winning, teamwork and integrity.”

U.Va. Executive Associate Director of Athletics Jon Oliver is appreciative of Wachovia’s continued association with the Virginia athletics department.

“We appreciate Wachovia’s continued interest and involvement in our athletics program,” Oliver said. “We want to be affiliated with quality brands and quality people. Wachovia and our other ‘Team Virginia’ partners represent that effort at the highest level.”

Virginia’s men’s and women’s basketball teams will play their home games in the John Paul Jones Arena beginning with the 2006-2007 season. The arena, which opened this summer, provides a beautiful and functional home for U.Va. women’s and men’s basketball, benefits all of the athletics department’s student-athletes with its dining hall and academic center, and gives residents of Central Virginia a venue to watch collegiate basketball at its highest level as well as a variety of other entertainment options. The John Paul Jones Arena seats 15,219 for basketball and fans benefit from a state-of-the-art audio-visual system, a spacious lobby with two large video displays, a center-hung scoreboard with four video screens, conveniently located concession stands and a Team Store.

The Virginia women’s and men’s basketball teams open their home seasons at the John Paul Jones Arena on Nov. 12. The U.Va. women’s team plays Old Dominion at 1:30 p.m. and the men host Arizona at 7 p.m.

About Wachovia

Wachovia Corporation (NYSE:WB) is one of the nation’s largest diversified financial services companies, providing a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services. Including the Golden West merger, which closed on October 1, 2006, Wachovia has retail and commercial banking operations in 21 states with 3,400 retail banking offices from Connecticut to Florida and west to Texas and California. In addition, two core businesses operate under the Wachovia Securities brand name: retail brokerage with 737 offices in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide. Other nationwide businesses include mortgage lending in 39 states and auto finance covering 46 states. Globally, Wachovia serves clients through more than 40 international offices. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com, and investment products and services at evergreeninvestments.com. At September 30, 2006, Wachovia had assets of $559.9 billion and market capitalization of $88.2 billion. On the same date, based on pro forma data, Wachovia’s combined assets were approximately $700 billion and combined market capitalization was $107 billion.