Wachovia Corporation Announces Exercise of Over-Allotment Options Bringing Total...

Wachovia Corporation Announces Exercise of Over-Allotment Options Bringing
Total Common Stock and Convertible Preferred Stock Sold to $8.05 Billion

CHARLOTTE, N.C., April 17 /PRNewswire-FirstCall/ -- Wachovia Corporation
(NYSE: WB) announced today that the underwriters of its concurrent offerings
of 145,833,334 shares of common stock and 3,500,000 shares of
Non-Cumulative Perpetual Convertible Class A preferred stock, Series L, have
exercised in full their over-allotment options to purchase an additional
21,875,000 shares of common stock and an additional 525,000 shares of
convertible preferred stock. The prices for the additional shares of common
stock and shares of convertible preferred stock are the same prices,
respectively, at which the 145,833,334 shares of common stock and 3,500,000
shares of convertible preferred stock were sold to the underwriters.
Wachovia Securities is serving as global coordinator and joint bookrunning
manager and Goldman, Sachs & Co. is serving as joint bookrunning manager of
these offerings. The offerings are being made under Wachovia Corporation's
shelf registration statement filed with the Securities and Exchange
Commission.
This news release does not constitute an offer to sell or the solicitation
of an offer to buy securities. Any offer of securities will be made by means
of the prospectus supplement and accompanying prospectus relating to each
offering. Copies of the prospectus supplement and accompanying prospectus
relating to each offering can be obtained by contacting: Wachovia Securities,
Attn: Equity Syndicate, 375 Park Avenue, New York, New York 10152-4077 or
email: equity.syndicate@wachovia.com; or Goldman, Sachs & Co., Attn:
Prospectus Dept., 85 Broad St., New York, NY 10004, Fax: 212 902 9316 or email
at prospectus-ny@ny.email.gs.com.
About Wachovia
Wachovia Corporation (NYSE: WB) is one of the nation's largest diversified
financial services companies, with assets of $808.9 billion and market
capitalization of $53.8 billion at March 31, 2008. Wachovia provides a broad
range of retail banking and brokerage, asset and wealth management, and
corporate and investment banking products and services to customers through
3,300 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 $1.1 trillion in client assets through 18,600 registered
representatives in 1,500 offices nationwide.
SOURCE Wachovia Corporation

Media Contact: Christy Phillips-Brown, +1-704-383-8178, Mary Eshet,
+1-704-383-7777, Investor Contacts: Alice Lehman, +1-704-374-4139, Ellen
Taylor, +1-212-214-1904, all of Wachovia Corporation