Evergreen Investments Launches National Advertising Campaign.

Business Editors

BOSTON--(BUSINESS WIRE)--June 4, 2003

Evergreen Investments, one of the nation's largest asset management firms, today announced a new national advertising campaign. The campaign, called "More Demanding," stresses the disciplined approach and long-term

dedication to quality asset management Evergreen has deployed since 1932. The ads, which will run on a variety of television networks, outdoor media, and in print publications, will communicate the firm's commitment to provide clients with investments that stand the test of time.

"Evergreen Investments has been a vibrant and increasingly large asset management firm for many years and we have continued to grow during these remarkably challenging times - something few firms can say," said Bill Ennis, President and Chief Executive Officer of Evergreen Investments. "This success creates an opportunity for Evergreen to communicate to potential investors the core strength of our firm - a fundamental commitment to be more demanding than our competition. We look to the campaign to significantly increase our share of the investing public's mind."

Evergreen Investments developed the campaign working with Mullen in Winston-Salem, N.C., the company's advertising agency of record, to help build its brand and grow its business. The size of the campaign was not disclosed.

"We're pleased to come to market with a strong message focused on a core characteristic of our firm," said Ruth Papazian, Chief Marketing Officer of Evergreen Investments. "We believe that creating a strong, dynamic presence in a difficult market is just as important, if not more, than merely projecting product specific performance. The bottom line is that our track record, combined with our firm's long, stable history, and disciplined risk management; help us create investments that stand the test of time. That's the message we want to share with potential investors across the country."

Evergreen Investments serves more than 4.4 million investors through a diverse range of retail and institutional investment products. Evergreen provides superior investment vehicles ranging from institutional portfolios to mutual funds, variable annuities to retirement plans, alternative investments to private accounts.

About Evergreen Investments

Evergreen Investments is the brand name under which Wachovia Corporation (NYSE: WB) conducts its investment management business and is a leading asset management firm serving more than four million individual and institutional investors through a broad range of investment products. Led by 350 investment professionals, Evergreen Investments strives to meet client investment objectives through disciplined, team-based asset management. Today, Evergreen Investments manages more than $229 billion in assets (as of March 31, 2003). For more information on Evergreen, visit www.evergreeninvestments.com.

About Mullen

Mullen, an Interpublic company, is known for its relentless creativity and interdisciplinary team approach to building brands. Headquartered in Wenham, MA, the agency operates full-service offices in Winston-Salem, NC, Detroit, MI, and Pittsburgh, PA. For information on Mullen, visit www.mullen.com.