CHARLOTTE, North Carolina, September 28 /PRNewswire/ --

- TradeXchange Streamlines, Automates and Provides Visibility to Import 
and Export Trade Operations Across Trading Partners

Wachovia Bank, N.A., today announced the launch of TradeXchange, a
secure, Web-based messaging platform designed to provide greater visibility
throughout the financial supply chain from purchase order delivery through
invoice settlement.

"As one of the first banks in the world to initiate letters of credit
over the Internet, we continue to focus on innovation and technology --
particularly relating to the evolution of the financial supply chain," said
Steven Nichols, managing director and head of Global Trade Services in
Wachovia's Global Financial Institutions and Trade Services division.
"Buyers, sellers and their banks must navigate an increasingly complex
international trade environment, including new challenges created by the
movement to open account transactions. TradeXchange will facilitate this
process by providing critical supply chain tools in a fully collaborative and
real-time environment."

Wachovia designed TradeXchange to be intuitive and easy to use, while
adding enhanced functionality, including facilitating pre- and post-export
financing, indemnities for buyer default, purchase order
delivery/acknowledgement, document preparation, electronic document
management and document compliance.

Wachovia's philosophy is to be a partner supporting its global financial
institution clients, as opposed to competing with them in their geographies.
In keeping with this philosophy, Wachovia will leverage its leadership in
trade outsourcing to provide TradeXchange to its international correspondent
banking clients on a private label basis.

"TradeXchange does not just Web-enable old processes," said John
McFadden, managing director and head of Wachovia's Global Trade Services'
product management. "TradeXchange allows a seller's local bank to collaborate
online and to provide pre- and post-export finance to its customers.
Similarly, a buyer's bank can benefit by providing value-added purchase order
delivery, credit indemnities and document compliance management. Our goal in
providing TradeXchange on a private label basis is to re-intermediate our
partner banks into the financial supply chain."

William Fitzgerald, managing director and head of Wachovia's Global
Financial Institutions and Trade Technology group, states that, "Building
TradeXchange is one more example of leveraging our Corporate and Investment
Banking technology platform to provide innovative trade solutions to our
correspondents. TradeXchange represents a key component of a major strategic
development initiative that eventually replaces the core platform with a
GRID-based Service Oriented Architecture framework called TradeWorks. The
combination of TradeXchange and TradeWorks will enable Wachovia and our trade
insourcing partner banks to offer a highly extendible array of trade finance
products to their respective customers."

About Wachovia Global Financial Institutions and Trade division

Wachovia's Global Financial Institutions and Trade division has a
200-year legacy in International correspondent banking. FImetrix Research has
ranked Wachovia the No. 1 correspondent bank provider in Asia and Latin
America in market share, No. 4 in Western Europe, and No. 1 worldwide in
overall customer satisfaction. Wachovia is a global leader in correspondent
banking and trade services and maintains more than 3,000 correspondent
relationships in more than 130 countries through a network of 44 offices,
including eight overseas branches.

About Wachovia

Wachovia Corporation (NYSE: WB) is one of the nation's largest
diversified financial services companies, with assets of US$719.9 billion and
market capitalization of US$97.5 billion at June 30, 2007. Wachovia provides
a broad range of retail banking and brokerage, asset and wealth management,
and corporate and investment banking products and services to 13 million
household and business customers. Wachovia has 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 US$795 billion in client assets through approximately 10,800
registered representatives in 774 offices in 48 states and through service
affiliate offices in Latin America. Online banking is available at
wachovia.com; online brokerage products and services at wachoviasec.com; and
investment products and services at evergreeninvestments.com.

In May 2007, Wachovia announced an agreement to acquire A.G. Edwards,
Inc., a financial services holding company whose primary subsidiary is the
national investment firm of A.G. Edward & Sons, Inc. A.G. Edwards and its
affiliates employ 6,623 financial consultants in 741 offices nationwide and
two European locations in London and Geneva. This proposed acquisition is
expected to be completed in the fourth quarter of 2007, pending the approval
of A.G. Edwards shareholders and applicable regulatory approvals.

Web site: http://www.wachovia.com