Evergreen Investments Awards Advertising to Mullen.

Business Editors

WINSTON-SALEM, N.C.--(BUSINESS WIRE)--March 18, 2003

Evergreen Investments, Boston, one of the nation's largest asset management firms, has chosen Mullen in Winston-Salem, N.C., as its new advertising agency of record to help build its brand and grow its business.

Evergreen Investments serves more than 4.5 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.

"As a world-class leader in asset management, we looked for an agency that could help expand our firm's share of mind in the marketplace," said Ruth Papazian, chief marketing officer for Evergreen Investments. "Mullen takes an investor-focused approach to advertising. They have a passion for our business, best-of-class creative, and the depth of expertise needed to elevate the visibility of Evergreen."

The first campaign for Evergreen from Mullen will break Spring 2003. "Our challenge is to enrich the brand and extend its visibility," said John Fitzgerald, president of Mullen, Winston-Salem. "We're looking forward to getting to the root of how individual and institutional investors make decisions and creating distinctive advertising that individual investors, financial advisors, consultants and company executives will notice."

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 December 31, 2002).

About Mullen

Mullen, an Interpublic company, is known for its interdisciplinary team approach to building brands. Headquartered in Wenham, MA, the $640 million agency operates full-service offices in Winston-Salem, NC, Detroit, MI, and Pittsburgh, PA. For information on Mullen, visit www.mullen.com.