CHARLOTTE, North Carolina, September 11 /PRNewswire/ --

Wachovia Securities today named four managing directors as leaders in its
newly integrated real estate platform. The firm had announced in April that
it would move its Real Estate Financial Services group from the General Bank
to the Corporate and Investment Bank in order to combine its market-leading
Real Estate Capital Markets (RECM), Real Estate Financial Services (REFS) and
Real Estate Investment Banking (REIB) groups.

The new integrated domestic real estate platform will provide seamless
service to Wachovia's commercial real estate clients though two primary
business lines -- Real Estate Americas and Real Estate Asset Management.
Leaders of both groups will report to Tom Wickwire, managing director and
head of Structured Products within the Fixed Income division of the Corporate
and Investment Bank.

Lawrence Gray and Robert Verrone have been named co-heads of Real Estate
Americas, which includes coverage teams for all domestic real estate clients
(including public and privately owned real estate operators, homebuilders and
gaming companies), commercial mortgage backed securities (CMBS), structured
finance, real estate corporate banking, tax credit and agency finance, real
estate syndications, and real estate collateralized debt obligation sales and
trading.

Gray is a managing director and former head of the firm's Real Estate
Investment Banking group. He joined the company in 1997 to form the Real
Estate Investment Banking group, which he has led for the past ten years.
Verrone is a managing director and former head of Real Estate Capital Markets
Americas. He joined Wachovia in 1995 and has held a variety of leadership
roles in Real Estate Capital Markets.

Leslie Fairbanks has been named as co-head, effective immediately, and
Dan Sullivan has been named as interim co-head, effective Oct. 1, of Real
Estate Asset Management, which includes Wachovia's market leading CMBS
servicing operation, construction loan underwriting, and construction loan
portfolio management.

Fairbanks is a managing director and former head of Real Estate Services.
She joined Wachovia in 1999 after spending eleven years as a real estate
attorney at leading New York law firms. Sullivan is a managing director in
Wachovia's Fixed Income Research Group, covering Real Estate Investment
Trusts. He previously managed the Debt Capital Markets team within Wachovia's
Real Estate Corporate Finance group and has been with the company since 1998.

"Each of these leaders has achieved remarkable success in their careers
at Wachovia," said Wickwire. "I am confident that they are the right people
to continue the momentum of our market-leading real estate business."

As part of the firm's commitment to international expansion, Bill Green,
managing director and former head of Real Estate Capital Markets in the U.S.,
has relocated to London to become head of Real Estate Europe.

"Bill's career in real estate spans 24 years, with seven of those at
Wachovia in the U.S.," said Wickwire. "Placing such a seasoned leader on our
European platform reinforces our commitment to growth in this important
market and adds additional talent to our European real estate business."

Rick Abrams will continue as head of Real Estate Asia, a position he has
held since 2005.

"We have a diversified and integrated real estate business which now
encompasses origination, coverage, distribution and principal activities
under the same leadership team and has the ability to compete successfully
around the world," said Wickwire. "The strength of our newly integrated
platform and the skills and vision of this leadership team will ensure our
future success."

Wachovia Securities is a leading capital provider and advisor in the U.S.
commercial real estate sector. The firm is ranked as the #1 contributor to
U.S. CMBS transactions(1), #1 CMBS Master Servicer(1), #1 in U.S. Commercial
Real Estate CDOs(1), #1 Bookrunning Manager for REIT Preferred Stock(2), and
#1 REIT M&A advisor(3). The firm serves clients through more than 30 regional
U.S. offices as well as offices in Europe and Asia.

About Wachovia's Corporate and Investment Banking Group

Wachovia's Corporate and Investment Banking group offers a full suite of
products and services to public and private companies, institutional
investors, financial institutions and the financial sponsor community.
Investment banking and the global markets businesses (fixed income and
equities) operate under the Wachovia Securities brand and have become a
global force in the capital markets arena by providing comprehensive
advisory, capital raising, structuring and execution services. Wachovia's
Corporate and Investment Bank also includes the third-largest Treasury
Services business in the U.S., as well as leading asset-based lending and
global correspondent banking services. The firm is built on a cohesive
culture that encourages creative ideas, capital solutions, and experienced
advice to all clients.

Wachovia Securities is the trade name for the corporate, investment
banking and capital markets of Wachovia Corporation and its subsidiaries,
including Wachovia Capital Markets, LLC (WCM), member NYSE, NASD, and SIPC,
and Wachovia Securities International Limited, which is authorized and
regulated by The Financial Services Authority in the United Kingdom. Wachovia
Securities is also the trade name for the retail brokerage businesses of
WCM's affiliates, Wachovia Securities, LLC, member NYSE, NASD, and SIPC,
Wachovia Securities Financial Networks, LLC, Wexford Clearing, LLC, and First
Clearing, LLC.

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
http://www.wachovia.com; online brokerage products and services at
http://www.wachoviasec.com; and investment products and services at
http://www.evergreeninvestments.com.

(1) as of June 30, 2007; source: Commercial Mortgage Alert
    (2) as of June 30, 2007; source: Thomson Financial
    (3) based on # of transactions for the period 1/1/05 -- 6/30/07;
        source: Thomson Financial


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