Exhibit (99)(a)

		Press Release July 20, 2007
	WACHOVIA EARNS RECORD $2.34 BILLION, EPS UP 4% TO $1.22 Growth reflects strength in market-related businesses and traditional banking market expansion

2^nd QUARTER 2007 COMPARED WITH 2^nd QUARTER 2006

• Double-digit growth in earnings. Results include the impact of acquisitions and divestitures.

• Record revenue driven by higher loans and deposits due to acquisitions and organic growth, and by strong fee and other income in both traditional banking and securities businesses.

• Average core deposits up 30 percent. Outstanding retail checking account growth throughout footprint, with solid results in expanded markets.

• Average loans up 53 percent, driven by higher consumer real estate loans related to the Golden West acquisition, and strong organic growth in commercial and international lending. Expanded auto lending and credit card franchises generating results ahead of expectations.

• Solid credit quality; increased provision largely reflects growth in auto, commercial, consumer real estate loans and credit card.

• Customer loyalty scores reach high of 53.7%; organic customer acquisition grew 14.1% annualized.

Earnings Highlights

	Three Months Ended
	June 30, 2007				March 31, 2007		June 30, 2006
(In millions, except per share data)	Amount			EPS	Amount	EPS	Amount	EPS
Earnings
Net income (GAAP)	$	2,341		1.22	2,302	1.20	1,885	1.17
Net merger-related and restructuring expenses		20		0.01	6	—	15	0.01
Earnings excluding merger-related and restructuring expenses	$	2,361		1.23	2,308	1.20	1,900	1.18
Financial ratios
Return on average common stockholders’ equity		13.54	%		13.47		15.41
Net interest margin (a)		2.92			3.01		3.18
Fee and other income as % of total revenue (a)		48.70			45.41		49.37
Overhead efficiency ratio (a)		55.85	%		55.70		58.71
Capital adequacy (b)
Tier 1 capital ratio		7.5	%		7.4		7.8
Total capital ratio		11.4			11.4		11.4
Leverage ratio		6.2	%		6.1		6.6
Asset quality (c)
Allowance for loan losses as % of nonaccrual and restructured loans		182	%		213		488
Allowance for loan losses as % of loans, net		0.79			0.80		1.07
Allowance for credit losses as % of loans, net (d)		0.83			0.84		1.13
Net charge-offs as % of average loans, net		0.14			0.15		0.08
Nonperforming assets as % of loans, net, foreclosed properties and loans held for sale		0.47	%		0.40		0.25

(a) Tax-equivalent.

(b) The second quarter of 2007 is based on estimates.

(c) Asset quality ratios at June 30 and March 31, 2007, reflect the impact of Golden West.

(d) The allowance for credit losses is the sum of the allowance for loan losses and the reserve for unfunded lending commitments.

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WACHOVIA EARNS RECORD $2.34 BILLION, EPS OF $1.22/page 2

CHARLOTTE, N.C. — Wachovia Corp. (NYSE:WB) today reported net income of $2.34 billion, or $1.22 per share, in the second quarter of 2007 compared with $1.88 billion, or $1.17 per share, in the second quarter of 2006.

After-tax net merger-related expenses amounted to 1 cent per common share in the second quarters of both 2007 and 2006. Excluding these expenses, earnings were $2.36 billion, or $1.23 per share, in the second quarter of 2007 and $1.90 billion, or $1.18 per share, in the second quarter of 2006.

“Our second quarter performance reflects our continued focus on execution in both the traditional banking and markets-related businesses,” said Ken Thompson, Wachovia chairman and chief executive officer. “All four of our major businesses delivered double-digit earnings growth, fueled by new markets, revenue growth initiatives and an expanded product set. Especially gratifying is our employees’ continuing dedication to providing industry-leading customer service – which generated record loyalty and satisfaction scores this quarter. The integration of Golden West is proceeding as planned, and we’re excited by the cross-sell potential of our expanded platform. Additionally, our focus on efficiency and risk management continues to provide flexibility for investment for future growth.”

Results in the second quarter of 2007 included the full quarter impact of the October 1, 2006, acquisition of Golden West.

Wachovia Corporation

	Three Months Ended
(In millions)	June 30, 2007		March 31, 2007	June 30, 2006
Net interest income (Tax-equivalent)	$	4,460	4,497	3,675
Fee and other income		4,234	3,741	3,583
Total revenue (Tax-equivalent)		8,694	8,238	7,258
Provision for credit losses		179	177	59
Noninterest expense		4,856	4,588	4,261
Net income		2,341	2,302	1,885
Average loans, net		421,257	415,261	275,265
Average core deposits	$	378,496	369,270	291,638

In the second quarter of 2007 compared with the second quarter of 2006, Wachovia:

• Grew revenue 20 percent on higher loans and deposits, driven by the addition of Golden West and organic growth, while higher fee and other income largely reflected growth in both our traditional banking and securities businesses.

• Increased net interest income 21 percent on higher average consumer loans, largely reflecting the impact of acquisitions, and higher average commercial loans, up 13 percent.

• Commercial loan growth was led by middle-market commercial and international lending. Increased consumer loans were led by higher real estate loans primarily due to the addition of Golden West, as well as growth in auto lending and in credit card.

• Average core deposits rose 30 percent and average low-cost core deposits were up 6 percent. Growth in lower spread loans, a shift in deposit mix, acquisition impact and the effects of the inverted yield curve resulted in 26 basis points of margin compression.

• Generated 18 percent growth in fee and other income, reflecting solid retail brokerage transaction activity and continued strength in retail brokerage managed account fees; record originations in key investment banking products and robust principal investing results; and higher traditional banking fees.

• Experienced a 14 percent increase in noninterest expense largely reflecting the impact of acquisitions, higher revenue-based incentives and commissions, and growth initiatives.

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WACHOVIA EARNS RECORD $2.34 BILLION, EPS OF $1.22/page 3

• Recorded a provision for credit losses of $179 million largely reflecting growth in auto, commercial, and consumer real estate lending. Net charge-offs were $150 million, or an annualized 0.14 percent of average net loans. Total nonperforming assets including loans held for sale were $2.1 billion, or 0.47 percent of loans, foreclosed properties and loans held for sale.

In addition, in the second quarter of 2007, Wachovia announced an agreement to acquire A.G. Edwards, Inc., a retail brokerage firm headquartered in St. Louis, Missouri. The transaction, which is subject to applicable regulatory approvals and approval of A.G. Edwards shareholders, is expected to close in the fourth quarter of this year.

Lines of Business

The following discussion covers the results for Wachovia’s four core business segments and is on a segment earnings basis, which excludes net merger-related and restructuring expenses, other intangible amortization and discontinued operations. Segment earnings are the basis on which Wachovia manages and allocates capital to its business segments. Pages 13 and 14 include a reconciliation of segment results to Wachovia’s consolidated results of operations in accordance with GAAP.

General Bank Highlights

	Three Months Ended
(In millions)	June 30, 2007			March 31, 2007	June 30, 2006
Net interest income (Tax-equivalent)	$	3,686		3,706	2,777
Fee and other income		975		876	842
Total revenue (Tax-equivalent)		4,717		4,630	3,667
Provision for credit losses		164		162	95
Noninterest expense		2,093		2,028	1,737
Segment earnings	$	1,563		1,549	1,165
Cash overhead efficiency ratio (Tax-equivalent)		44.36	%	43.80	47.39
Average loans, net	$	331,042		326,878	191,815
Average core deposits		298,827		292,046	214,517
Economic capital, average	$	12,959		12,650	8,219

General Bank

The General Bank includes retail, small business and commercial customers. The second quarter of 2007 compared with the second quarter of 2006 included:

• Earnings of $1.6 billion on a 29 percent increase in revenue to $4.7 billion, driven by increased loans and deposits primarily reflecting the addition of Golden West, growth synergies in auto lending, and other organic growth. The business mix continued to shift, reflecting customer preference for fixed rate instead of variable rate loans and certificates of deposit over demand deposits.

• An increase in average loans of $139.2 billion including $121.0 billion in primarily consumer real estate loans from the Golden West acquisition. Organic growth was led by middle market commercial, commercial real estate and small business loans.

• Deposit growth led by consumer certificates of deposit, reflecting the addition of Golden West and organic growth. Net new retail checking accounts increased by 312,000 in the second quarter of 2007 compared with an increase of 142,000 in the year ago quarter. World Savings branches generated 12 percent of these new accounts. Year to date, net new retail checking accounts amounted to 579,000, compared with 555,000 in full year 2006.

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WACHOVIA EARNS RECORD $2.34 BILLION, EPS OF $1.22/page 4

• Fee and other income growth of 16 percent, with solid growth in service charges, interchange income, insurance commissions and mortgage banking fees on higher volumes, as well as the addition of Golden West.

• 20 percent growth in noninterest expense including the acquisition impact, de novo branch activity and other growth initiatives. Despite the increased expense, the General Bank’s overhead efficiency ratio improved 303 basis points to 44.36 percent.

• Increased provision as a result of higher auto, commercial and consumer real estate loan losses.

Wealth Management Highlights

	Three Months Ended
(In millions)	June 30, 2007			March 31, 2007	June 30, 2006
Net interest income (Tax-equivalent)	$	149		146	149
Fee and other income		201		195	194
Total revenue (Tax-equivalent)		352		342	344
Provision for credit losses		1		—	2
Noninterest expense		238		240	249
Segment earnings	$	72		65	59
Cash overhead efficiency ratio (Tax-equivalent)		67.90	%	70.01	72.23
Average loans, net	$	17,666		17,079	15,922
Average core deposits		14,097		14,248	14,270
Economic capital, average	$	587		564	561

Wealth Management

Wealth Management includes private banking, personal trust, investment advisory services, charitable services, financial planning and insurance brokerage. The second quarter of 2007 compared with the second quarter of 2006 included:

• 22 percent earnings growth to $72 million on modest revenue growth and lower expenses.

• Stable net interest income as strong momentum in loans offset margin compression and a modest decline in average core deposits.

• Growth in fee and other income led by investment management fees related to continuing strong client response to the new investment platform introduced in 2006, record new sales with recurring fees, and market appreciation, offset by lower insurance commissions.

• Lower expenses as a result of efficiency initiatives.

• 11 percent growth in assets under management to $79.3 billion as a result of higher market valuations and new client acquisition.

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WACHOVIA EARNS RECORD $2.34 BILLION, EPS OF $1.22/page 5

Corporate and Investment Bank Highlights

	Three Months Ended
(In millions)	June 30, 2007			March 31, 2007	June 30, 2006
Net interest income (Tax-equivalent)	$	511		455	470
Fee and other income		1,500		1,089	1,218
Total revenue (Tax-equivalent)		1,963		1,502	1,646
Provision for credit losses		(4	)	—	(33	)
Noninterest expense		1,024		903	887
Segment earnings	$	599		380	503
Cash overhead efficiency ratio (Tax-equivalent)		52.16	%	60.13	53.85
Average loans, net	$	43,426		40,954	37,756
Average core deposits		31,527		29,080	26,492
Economic capital, average	$	7,508		7,101	6,501

Corporate and Investment Bank

The Corporate and Investment Bank includes corporate lending, investment banking, and treasury and international trade finance. Second quarter 2007 results compared with the second quarter of 2006 included:

• 19 percent growth in earnings to $599 million driven by record investment banking performance and higher principal investing results. Strong results in advisory and underwriting fees largely related to strength in high grade, structured products, equities underwriting, merger and acquisition advisory services, and loan syndications.

• A 9 percent increase in net interest income reflecting growth in deposits related to mortgage servicing and commercial mortgage-backed securities warehouse volumes. Core deposit growth from mortgage servicing and global money market deposits, and loan growth primarily from real estate capital markets and international.

• Increased noninterest expense due to higher revenue-based incentives.

Capital Management Highlights

	Three Months Ended
(In millions)	June 30, 2007			March 31, 2007	June 30, 2006
Net interest income (Tax-equivalent)	$	263		262	267
Fee and other income		1,502		1,444	1,211
Total revenue (Tax-equivalent)		1,754		1,698	1,469
Provision for credit losses		—		—	—
Noninterest expense		1,296		1,236	1,118
Segment earnings	$	291		293	223
Cash overhead efficiency ratio (Tax-equivalent)		73.86	%	72.80	76.15
Average loans, net	$	1,663		1,554	1,039
Average core deposits		31,221		31,683	31,827
Economic capital, average	$	1,615		1,593	1,430

Capital Management

Capital Management includes retail brokerage services and asset management. The second quarter of 2007 compared with the second quarter of 2006 included:

• 30 percent earnings growth to $291 million on record revenue, driven by solid retail brokerage transaction activity and strength in managed account fees as managed assets grew 24 percent to $151.3 billion.

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WACHOVIA EARNS RECORD $2.34 BILLION, EPS OF $1.22/page 6

• Growth in fee income, which also reflected the effect of acquisitions including European Credit Management Ltd. (ECM), a London-based fixed income investment management firm, which closed on January 31, 2007.

• 16 percent growth in noninterest expense primarily due to higher commissions and the impact of acquisitions.

• A decrease in assets under management from the first quarter of 2007, reflecting a change in investment discretion responsibility from Capital Management to Wealth Management.

Total assets under management of $281.5 billion at June 30, 2007, were up from December 31, 2006, including $26.2 billion from the ECM acquisition, $4.9 billion in net inflows and approximately $6.0 billion in market appreciation, offset by a $34.5 billion change in investment discretion responsibility on previously co-managed, nonproprietary assets now solely managed by Wealth Management. Total brokerage client assets grew 5 percent from year-end 2006 to $795.8 billion.

***

Wachovia Corporation (NYSE:WB) is one of the nation’s largest diversified financial services companies, with assets of $719.9 billion and market capitalization of $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 $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.

Forward-Looking Statements

This news release contains various forward-looking statements. A discussion of various factors that could cause Wachovia Corporation’s actual results to differ materially from those expressed in such forward-looking statements is included in Wachovia’s filings with the Securities and Exchange Commission, including its Current Report on Form 8-K dated July 20, 2007.

Additional Information

The proposed merger between Wachovia and A.G. Edwards, Inc. (the “A.G. Edwards Merger”) will be submitted to A.G. Edwards shareholders for their consideration. Wachovia has filed a registration statement with the SEC, which includes a preliminary proxy statement/prospectus regarding the proposed A.G. Edwards Merger. A.G. Edwards shareholders and other investors are urged to read the registration statement and the definitive proxy statement/prospectus when it becomes available, as well as any other relevant documents concerning the proposed A.G. Edwards Merger filed with the SEC (and any amendments or supplements to those documents), because they will contain important information. You may obtain a free copy of the registration statement and the proxy statement/prospectus, as well as other filings containing information about Wachovia and A.G. Edwards, at the SEC’s website (http://www.sec.gov) and at the companies’ respective websites, www.wachovia.com and www.agedwards.com. Copies of the definitive proxy statement/prospectus and the SEC filings that will be incorporated by reference in the proxy statement/prospectus can also be obtained, free of charge, by directing a request to Wachovia Corporation, Investor Relations, One Wachovia Center, 301 South College Street, Charlotte, NC 28288-0206, 704-383-0798; or to A.G. Edwards, Inc., Investor Relations, One North Jefferson Avenue, St. Louis, MO 63103, 314-955-3000.

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WACHOVIA EARNS RECORD $2.34 BILLION, EPS OF $1.22/page 7

Wachovia and A.G. Edwards, and their respective directors and executive officers, may be deemed to be participants in the solicitation of proxies from the shareholders of A.G. Edwards in connection with the proposed A.G. Edwards Merger. Information about the directors and executive officers of Wachovia is set forth in the proxy statement for Wachovia’s 2007 annual meeting of shareholders, as filed with the SEC on a Schedule 14A on March 9, 2007. Information about the directors and executive officers of A.G. Edwards is set forth in the proxy statement for A.G. Edwards’ 2007 annual meeting of shareholders, as filed with the SEC on a Schedule 14A on May 15, 2007. Additional information regarding the interests of those participants and other persons who may be deemed participants in the proposed A.G. Edwards Merger may be obtained by reading the definitive proxy statement/prospectus regarding the proposed A.G. Edwards Merger when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph.

Explanation of Wachovia’s Use of Certain Non-GAAP Financial Measures

In addition to results presented in accordance with GAAP, this news release includes certain non-GAAP financial measures, including those presented on page 1 and on page 10 under the captions “Earnings Excluding Merger-Related and Restructuring Expenses, and Discontinued Operations” and “Earnings Excluding Merger-Related and Restructuring Expenses, Other Intangible Amortization and Discontinued Operations”, and which are reconciled to GAAP financial measures on pages 21 and 22. In addition, in this news release certain designated net interest income amounts are presented on a tax-equivalent basis, including the calculation of the overhead efficiency ratio.

Wachovia believes these non-GAAP financial measures provide information useful to investors in understanding the underlying operational performance of the company, its business and performance trends and facilitates comparisons with the performance of others in the financial services industry. Specifically, Wachovia believes the exclusion of merger-related and restructuring expenses, discontinued operations and the cumulative effect of a change in accounting principle permits evaluation and a comparison of results for on-going business operations, and it is on this basis that Wachovia’s management internally assesses the company’s performance. Those non-operating items are excluded from Wachovia’s segment measures used internally to evaluate segment performance in accordance with GAAP because management does not consider them particularly relevant or useful in evaluating the operating performance of our business segments. In addition, because of the significant amount of deposit base intangible amortization, Wachovia believes the exclusion of this expense provides investors with consistent and meaningful comparisons to other financial services firms. Wachovia’s management makes recommendations to its board of directors about dividend payments based on reported earnings excluding merger-related and restructuring expenses, other intangible amortization, discontinued operations and the cumulative effect of a change in accounting principle, and has communicated certain dividend payout ratio goals to investors on this basis. Management believes this payout ratio is useful to investors because it provides investors with a better understanding of and permits investors to monitor Wachovia’s dividend payout policy. Wachovia also believes the presentation of net interest income on a tax-equivalent basis ensures comparability of net interest income arising from both taxable and tax-exempt sources and is consistent with industry standards. Wachovia operates one of the largest retail brokerage businesses in our industry, and we have presented an overhead efficiency ratio excluding these brokerage services, which management believes is useful to investors in comparing the performance of our banking business with other banking companies.

Although Wachovia believes the above non-GAAP financial measures enhance investors’ understanding of its business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP basis financial measures.

Earnings Conference Call and Supplemental Materials

Wachovia CEO Ken Thompson and CFO Tom Wurtz will review Wachovia’s second quarter 2007 results in a conference call and audio webcast beginning at 11 a.m. Eastern Time today. This review may include a discussion of certain non-GAAP financial measures. Supplemental materials relating to second quarter results, which also include a reconciliation of any non-GAAP measures to Wachovia’s reported financials, are available on the Internet at Wachovia.com/investor, and investors are encouraged to access these materials in advance of the conference call.

Webcast Instructions: To gain access to the webcast, which will be “listen-only,” go to Wachovia.com/investor and click on the link “Wachovia Second Quarter Earnings Audio Webcast.” In order to listen to the webcast, you will need to download either Real Player or Media Player.

Teleconference Instructions: The telephone number for the conference call is 888-357-9787 for U.S. callers or 706-679-7342 for international callers. You will be asked to tell the answering coordinator your name and the name of your firm. Mention the conference Access Code: Wachovia.

Replay: Friday, July 20, at 2:30 p.m. and continuing through 5 p.m. Friday, Aug. 31. Replay telephone number is 706-645-9291; access code: 3661619.

Investors seeking further information should contact the Investor Relations team: Alice Lehman at 704-374-4139 or Ellen Taylor at 704-383-1381. Media seeking further information should contact the Corporate Media Relations team: Mary Eshet at 704-383-7777 or Christy Phillips Brown at 704-383-8178.

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PAGE 8

WACHOVIA CORPORATION AND SUBSIDIARIES

FINANCIAL TABLES

TABLE OF CONTENTS

	PAGE
Financial Highlights—Five Quarters Ended June 30, 2007	9
Other Financial Data—Five Quarters Ended June 30, 2007	10
Consolidated Statements of Income—Five Quarters Ended June 30, 2007	11
Consolidated Statements of Income—Six Months Ended June 30, 2007 and 2006	12
Business Segments—Three Months Ended June 30, 2007 and March 31, 2007	13
Business Segments—Three Months Ended June 30, 2006	14
Loans—On-Balance Sheet, and Managed and Servicing Portfolios—Five Quarters Ended June 30, 2007	15
Allowance for Loan Losses and Nonperforming Assets—Five Quarters Ended June 30, 2007	16
Consolidated Balance Sheets—Five Quarters Ended June 30, 2007	17
Net Interest Income Summaries—Five Quarters Ended June 30, 2007	18 - 19
Net Interest Income Summaries—Six Months Ended June 30, 2007 and 2006	20
Reconciliation of Certain Non-GAAP Financial Measures—Five Quarters Ended June 30, 2007	21 - 22

PAGE 9

WACHOVIA CORPORATION AND SUBSIDIARIES

FINANCIAL HIGHLIGHTS

(Unaudited)

	2007					2006
(Dollars in millions, except per share data)	Second Quarter			First Quarter		Fourth Quarter	Third Quarter	Second Quarter
EARNINGS SUMMARY
Net interest income (GAAP)	$	4,421		4,460		4,577	3,541	3,641
Tax-equivalent adjustment		39		37		35	37	34
Net interest income (Tax-equivalent)		4,460		4,497		4,612	3,578	3,675
Fee and other income		4,234		3,741		3,980	3,465	3,583
Total revenue (Tax-equivalent)		8,694		8,238		8,592	7,043	7,258
Provision for credit losses		179		177		206	108	59
Other noninterest expense		4,721		4,460		4,741	3,915	4,139
Merger-related and restructuring expenses		32		10		49	38	24
Other intangible amortization		103		118		141	92	98
Total noninterest expense		4,856		4,588		4,931	4,045	4,261
Minority interest in income of consolidated subsidiaries		139		136		125	104	90
Income from continuing operations before income taxes (Tax-equivalent)		3,520		3,337		3,330	2,786	2,848
Income taxes		1,140		998		1,040	872	929
Tax-equivalent adjustment		39		37		35	37	34
Income from continuing operations		2,341		2,302		2,255	1,877	1,885
Discontinued operations, net of income taxes		—		—		46	—	—
Net income	$	2,341		2,302		2,301	1,877	1,885
Diluted earnings per common share	$	1.22		1.20		1.20	1.17	1.17
Return on average common stockholders’ equity		13.54	%	13.47		13.09	14.85	15.41
Return on average assets		1.32		1.34		1.31	1.34	1.39
Overhead efficiency ratio		55.85	%	55.70		57.38	57.44	58.71
Operating leverage	$	189		(13	)	665	1	180
ASSET QUALITY
Allowance for loan losses as % of loans, net		0.79	%	0.80		0.80	1.03	1.07
Allowance for loan losses as % of nonperforming assets		164		194		246	396	421
Allowance for credit losses as % of loans, net		0.83		0.84		0.84	1.09	1.13
Net charge-offs as % of average loans, net		0.14		0.15		0.14	0.16	0.08
Nonperforming assets as % of loans, net, foreclosed properties and loans held for sale		0.47	%	0.40		0.32	0.26	0.25
CAPITAL ADEQUACY (a)
Tier I capital ratio		7.5	%	7.4		7.4	7.7	7.8
Total capital ratio		11.4		11.4		11.3	11.5	11.4
Leverage ratio		6.2	%	6.1		6.0	6.6	6.6
OTHER DATA
Average diluted common shares (In millions)		1,919		1,925		1,922	1,600	1,613
Actual common shares (In millions)		1,903		1,913		1,904	1,581	1,589
Dividends paid per common share	$	0.56		0.56		0.56	0.56	0.51
Dividend payout ratio on common shares		45.90	%	46.67		46.67	47.86	43.59
Book value per common share	$	36.40		36.47		36.61	32.37	30.75
Common stock price		51.25		55.05		56.95	55.80	54.08
Market capitalization	$	97,530		105,330		108,443	88,231	85,960
Common stock price to book value		141	%	151		156	172	176
FTE employees		110,493		110,369		109,460	97,060	97,316
Total financial centers/brokerage offices		4,135		4,167		4,126	3,870	3,847
ATMs		5,099		5,146		5,212	5,163	5,134

(a) The second quarter of 2007 is based on estimates.

PAGE 10

WACHOVIA CORPORATION AND SUBSIDIARIES

OTHER FINANCIAL DATA

(Unaudited)

	2007					2006
(In millions)	Second Quarter			First Quarter		Fourth Quarter	Third Quarter	Second Quarter
EARNINGS EXCLUDING MERGER-RELATED AND RESTRUCTURING EXPENSES, AND DISCONTINUED OPERATIONS (a) (b)
Return on average common stockholders’ equity		13.66	%	13.50		12.98	15.02	15.52
Return on average assets		1.34		1.35		1.30	1.36	1.40
Overhead efficiency ratio		55.48		55.57		56.81	56.90	58.39
Overhead efficiency ratio excluding brokerage		51.78	%	52.37		53.60	53.41	54.96
Operating leverage	$	210		(51	)	675	16	135
EARNINGS EXCLUDING MERGER-RELATED AND RESTRUCTURING EXPENSES, OTHER INTANGIBLE AMORTIZATION AND DISCONTINUED OPERATIONS (a) (b) (c)
Dividend payout ratio on common shares		44.09	%	45.16		45.16	45.53	41.80
Return on average tangible common stockholders’ equity		33.57		33.27		31.58	30.79	32.63
Return on average tangible assets		1.46		1.48		1.43	1.47	1.52
Overhead efficiency ratio		54.29		54.15		55.17	55.60	57.03
Overhead efficiency ratio excluding brokerage		50.36	%	50.65		51.65	51.84	53.31
Operating leverage	$	197		(75	)	725	8	142
OTHER FINANCIAL DATA
Net interest margin		2.92	%	3.01		3.09	3.03	3.18
Fee and other income as % of total revenue		48.70		45.41		46.32	49.20	49.37
Effective income tax rate (d)		32.78		30.22		31.74	31.71	33.05
Effective tax rate (Tax-equivalent) (d) (e)		33.51	%	30.99		32.46	32.61	33.84
AVERAGE BALANCE SHEET DATA
Commercial loans, net	$	165,512		157,288		154,306	150,566	146,341
Consumer loans, net		255,745		257,973		258,255	130,544	128,924
Loans, net		421,257		415,261		412,561	281,110	275,265
Earning assets		606,805		594,313		596,893	472,139	463,232
Total assets		708,603		695,448		698,687	555,164	543,612
Core deposits		378,496		369,270		362,427	291,227	291,638
Total deposits		411,421		402,875		395,380	326,360	327,938
Interest-bearing liabilities		550,672		539,547		536,958	414,563	403,234
Stockholders’ equity	$	69,317		69,320		69,725	50,143	49,063
PERIOD-END BALANCE SHEET DATA
Commercial loans, net	$	175,369		167,039		162,098	159,424	154,277
Consumer loans, net		253,751		254,624		258,060	131,335	128,639
Loans, net		429,120		421,663		420,158	290,759	282,916
Goodwill and other intangible assets
Goodwill		38,766		38,838		38,379	23,535	23,550
Deposit base		727		796		883	577	631
Customer relationships		651		684		662	688	714
Tradename		90		90		90	90	90
Total assets		719,922		706,406		707,121	559,922	553,614
Core deposits		378,188		377,358		371,771	291,667	292,243
Total deposits		413,665		408,148		407,458	323,298	327,614
Stockholders’ equity	$	69,266		69,786		69,716	51,180	48,872

(a) These financial measures are calculated by excluding from GAAP net income presented on page 9, $20 million, $6 million, $29 million, $25 million and $15 million in the second and first quarters of 2007, and in the fourth, third and second quarters of 2006, respectively, of after-tax net merger-related and restructuring expenses, and $46 million after tax in the fourth quarter of 2006 related to discontinued operations.

(b) See page 9 for the most directly comparable GAAP financial measure and pages 21 and 22 for a more detailed reconciliation.

(c) These financial measures are calculated by excluding from GAAP net income presented on page 9, $66 million, $76 million, $90 million, $59 million and $64 million in the second and first quarters of 2007, and in the fourth, third and second quarters of 2006, respectively, of deposit base and other intangible amortization.

(d) The fourth quarter of 2006 includes taxes on discontinued operations.

(e) The tax-equivalent tax rate applies to fully tax-equivalized revenues.

PAGE 11

WACHOVIA CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	2007			2006
(In millions, except per share data)	Second Quarter		First Quarter	Fourth Quarter	Third Quarter	Second Quarter
INTEREST INCOME
Interest and fees on loans	$	7,723	7,618	7,736	5,096	4,823
Interest and dividends on securities		1,474	1,478	1,491	1,692	1,685
Trading account interest		506	433	462	401	387
Other interest income		658	619	681	595	509
Total interest income		10,361	10,148	10,370	7,784	7,404
INTEREST EXPENSE
Interest on deposits		3,220	3,061	3,067	2,238	2,035
Interest on short-term borrowings		705	670	781	860	755
Interest on long-term debt		2,015	1,957	1,945	1,145	973
Total interest expense		5,940	5,688	5,793	4,243	3,763
Net interest income		4,421	4,460	4,577	3,541	3,641
Provision for credit losses		179	177	206	108	59
Net interest income after provision for credit losses		4,242	4,283	4,371	3,433	3,582
FEE AND OTHER INCOME
Service charges		667	614	646	638	622
Other banking fees		504	416	452	427	449
Commissions		649	659	633	562	588
Fiduciary and asset management fees		981	920	856	823	808
Advisory, underwriting and other investment banking fees		454	407	433	292	318
Trading account profits		223	168	29	123	164
Principal investing		298	48	142	91	189
Securities gains		23	53	47	94	25
Other income		435	456	742	415	420
Total fee and other income		4,234	3,741	3,980	3,465	3,583
NONINTEREST EXPENSE
Salaries and employee benefits		3,122	2,972	3,023	2,531	2,652
Occupancy		331	312	323	284	291
Equipment		309	307	314	291	299
Advertising		70	61	47	54	56
Communications and supplies		180	173	166	158	162
Professional and consulting fees		209	177	239	200	184
Other intangible amortization		103	118	141	92	98
Merger-related and restructuring expenses		32	10	49	38	24
Sundry expense		500	458	629	397	495
Total noninterest expense		4,856	4,588	4,931	4,045	4,261
Minority interest in income of consolidated subsidiaries		139	136	125	104	90
Income from continuing operations before income taxes		3,481	3,300	3,295	2,749	2,814
Income taxes		1,140	998	1,040	872	929
Income from continuing operations		2,341	2,302	2,255	1,877	1,885
Discontinued operations, net of income taxes		—	—	46	—	—
Net income	$	2,341	2,302	2,301	1,877	1,885
PER COMMON SHARE DATA
Basic earnings
Income from continuing operations	$	1.24	1.22	1.20	1.19	1.19
Net income		1.24	1.22	1.22	1.19	1.19
Diluted earnings
Income from continuing operations		1.22	1.20	1.18	1.17	1.17
Net income		1.22	1.20	1.20	1.17	1.17
Cash dividends	$	0.56	0.56	0.56	0.56	0.51
AVERAGE COMMON SHARES
Basic		1,891	1,894	1,889	1,573	1,585
Diluted		1,919	1,925	1,922	1,600	1,613

PAGE 12

WACHOVIA CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Six Months Ended June 30,
(In millions, except per share data)	2007		2006
INTEREST INCOME
Interest and fees on loans	$	15,341	9,144
Interest and dividends on securities		2,952	3,250
Trading account interest		939	712
Other interest income		1,277	1,005
Total interest income		20,509	14,111
INTEREST EXPENSE
Interest on deposits		6,281	3,814
Interest on short-term borrowings		1,375	1,473
Interest on long-term debt		3,972	1,693
Total interest expense		11,628	6,980
Net interest income		8,881	7,131
Provision for credit losses		356	120
Net interest income after provision for credit losses		8,525	7,011
FEE AND OTHER INCOME
Service charges		1,281	1,196
Other banking fees		920	877
Commissions		1,308	1,211
Fiduciary and asset management fees		1,901	1,569
Advisory, underwriting and other investment banking fees		861	620
Trading account profits		391	383
Principal investing		346	292
Securities gains (losses)		76	(23	)
Other income		891	975
Total fee and other income		7,975	7,100
NONINTEREST EXPENSE
Salaries and employee benefits		6,094	5,349
Occupancy		643	566
Equipment		616	579
Advertising		131	103
Communications and supplies		353	329
Professional and consulting fees		386	351
Other intangible amortization		221	190
Merger-related and restructuring expenses		42	92
Sundry expense		958	941
Total noninterest expense		9,444	8,500
Minority interest in income of consolidated subsidiaries		275	185
Income before income taxes		6,781	5,426
Income taxes		2,138	1,813
Net income	$	4,643	3,613
PER COMMON SHARE DATA
Basic earnings	$	2.45	2.30
Diluted earnings		2.42	2.26
Cash dividends	$	1.12	1.02
AVERAGE COMMON SHARES
Basic		1,892	1,570
Diluted		1,922	1,599

PAGE 13

WACHOVIA CORPORATION AND SUBSIDIARIES

BUSINESS SEGMENTS

(Unaudited)

	Three Months Ended June 30, 2007
(In millions)	General Bank		Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses (b)		Total
CONSOLIDATED
Net interest income (a)	$	3,686	149	511		263		(149	)	(39	)	4,421
Fee and other income		975	201	1,500		1,502		56		—		4,234
Intersegment revenue		56	2	(48	)	(11	)	1		—		—
Total revenue (a)		4,717	352	1,963		1,754		(92	)	(39	)	8,655
Provision for credit losses		164	1	(4	)	—		18		—		179
Noninterest expense		2,093	238	1,024		1,296		173		32		4,856
Minority interest		—	—	—		—		139		—		139
Income taxes (benefits)		887	41	333		167		(276	)	(12	)	1,140
Tax-equivalent adjustment		10	—	11		—		18		(39	)	—
Net income (loss)	$	1,563	72	599		291		(164	)	(20	)	2,341
	Three Months Ended March 31, 2007
(In millions)	General Bank		Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses (b)		Total
CONSOLIDATED
Net interest income (a)	$	3,706	146	455		262		(72	)	(37	)	4,460
Fee and other income		876	195	1,089		1,444		137		—		3,741
Intersegment revenue		48	1	(42	)	(8	)	1		—		—
Total revenue (a)		4,630	342	1,502		1,698		66		(37	)	8,201
Provision for credit losses		162	—	—		—		15		—		177
Noninterest expense		2,028	240	903		1,236		171		10		4,588
Minority interest		—	—	—		—		136		—		136
Income taxes (benefits)		880	37	209		169		(293	)	(4	)	998
Tax-equivalent adjustment		11	—	10		—		16		(37	)	—
Net income	$	1,549	65	380		293		21		(6	)	2,302

PAGE 14

WACHOVIA CORPORATION AND SUBSIDIARIES

BUSINESS SEGMENTS

(Unaudited)

	Three Months Ended June 30, 2006
(In millions)	General Bank		Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses (b)		Total
CONSOLIDATED
Net interest income (a)	$	2,777	149	470		267		12		(34	)	3,641
Fee and other income		842	194	1,218		1,211		118		—		3,583
Intersegment revenue		48	1	(42	)	(9	)	2		—		—
Total revenue (a)		3,667	344	1,646		1,469		132		(34	)	7,224
Provision for credit losses		95	2	(33	)	—		(5	)	—		59
Noninterest expense		1,737	249	887		1,118		246		24		4,261
Minority interest		—	—	—		—		89		1		90
Income taxes (benefits)		660	34	280		127		(162	)	(10	)	929
Tax-equivalent adjustment		10	—	9		1		14		(34	)	—
Net income (loss)	$	1,165	59	503		223		(50	)	(15	)	1,885

(a) Tax-equivalent.

(b) The tax-equivalent amounts are eliminated herein in order for “Total” amounts to agree with amounts appearing in the Consolidated Statements of Income.

PAGE 15

WACHOVIA CORPORATION AND SUBSIDIARIES

LOANS—ON-BALANCE SHEET, AND MANAGED AND SERVICING PORTFOLIOS

(Unaudited)

	2007					2006
(In millions)	Second Quarter			First Quarter		Fourth Quarter		Third Quarter		Second Quarter
ON-BALANCE SHEET LOAN PORTFOLIO COMMERCIAL
Commercial, financial and agricultural	$	102,397		99,687		96,285		95,281		91,737
Real estate—construction and other		17,449		16,965		16,182		16,067		15,329
Real estate—mortgage		20,448		20,130		20,026		19,455		19,745
Lease financing		24,083		24,053		25,341		25,253		25,194
Foreign		20,959		16,240		13,464		12,677		11,680
Total commercial		185,336		177,075		171,298		168,733		163,685
CONSUMER
Real estate secured		220,293		220,682		225,826		100,115		98,420
Student loans		6,757		8,479		7,768		9,175		9,139
Installment loans		25,017		23,665		22,660		21,454		20,508
Total consumer		252,067		252,826		256,254		130,744		128,067
Total loans		437,403		429,901		427,552		299,477		291,752
Unearned income		(8,283	)	(8,238	)	(7,394	)	(8,718	)	(8,836	)
Loans, net (On-balance sheet)	$	429,120		421,663		420,158		290,759		282,916
MANAGED PORTFOLIO (a)
COMMERCIAL
On-balance sheet loan portfolio	$	185,336		177,075		171,298		168,733		163,685
Securitized loans—off-balance sheet		170		181		194		218		250
Loans held for sale		11,573		10,467		8,866		5,556		3,602
Total commercial		197,079		187,723		180,358		174,507		167,537
CONSUMER
Real estate secured
On-balance sheet loan portfolio		220,293		220,682		225,826		100,115		98,420
Securitized loans—off-balance sheet		8,112		6,595		5,611		6,151		6,833
Securitized loans included in securities		6,091		5,629		5,321		4,317		4,465
Loans held for sale		4,079		4,089		3,420		3,324		3,843
Total real estate secured		238,575		236,995		240,178		113,907		113,561
Student
On-balance sheet loan portfolio		6,757		8,479		7,768		9,175		9,139
Securitized loans—off-balance sheet		2,905		3,045		3,128		3,218		3,353
Securitized loans included in securities		52		52		52		52		52
Loans held for sale		2,046		—		—		—		—
Total student		11,760		11,576		10,948		12,445		12,544
Installment
On-balance sheet loan portfolio		25,017		23,665		22,660		21,454		20,508
Securitized loans—off-balance sheet		3,105		2,851		3,276		3,695		3,809
Securitized loans included in securities		116		126		137		169		181
Loans held for sale		35		476		282		159		305
Total installment		28,273		27,118		26,355		25,477		24,803
Total consumer		278,608		275,689		277,481		151,829		150,908
Total managed portfolio	$	475,687		463,412		457,839		326,336		318,445
SERVICING PORTFOLIO (b)
Commercial	$	298,374		271,038		250,652		227,899		212,500
Consumer	$	26,789		25,952		21,039		60,854		58,082

(a) The managed portfolio includes the on-balance sheet loan portfolio, loans securitized for which the retained interests are classified in securities on-balance sheet, loans held for sale on-balance sheet and the off-balance sheet portfolio of securitized loans sold, where we service the loans.

(b) The servicing portfolio consists of third party commercial and consumer loans for which our sole function is that of servicing the loans for the third parties.

PAGE 16

WACHOVIA CORPORATION AND SUBSIDIARIES

ALLOWANCE FOR LOAN LOSSES AND NONPERFORMING ASSETS

(Unaudited)

	2007					2006
(In millions)	Second Quarter			First Quarter		Fourth Quarter		Third Quarter		Second Quarter
ALLOWANCE FOR LOAN LOSSES (a)
Balance, beginning of period	$	3,378		3,360		3,004		3,021		3,036
Provision for credit losses		168		175		204		118		49
Provision for credit losses relating to loans transferred to loans held for sale or sold		4		1		7		(4	)	5
Balance of acquired entities at purchase date		—		—		303		—		—
Allowance relating to loans acquired, transferred to loans held for sale or sold		(10	)	(3	)	(18	)	(15	)	(18	)
Net charge-offs		(150	)	(155	)	(140	)	(116	)	(51	)
Balance, end of period	$	3,390		3,378		3,360		3,004		3,021
as % of loans, net		0.79	%	0.80		0.80		1.03		1.07
as % of nonaccrual and restructured loans (b) (c)		182	%	213		272		520		488
as % of nonperforming assets (b)		164	%	194		246		396		421
LOAN LOSSES
Commercial, financial and agricultural	$	39		34		32		25		32
Commercial real estate—construction and mortgage		4		6		10		2		3
Consumer		180		178		169		149		116
Total loan losses		223		218		211		176		151
LOAN RECOVERIES
Commercial, financial and agricultural		15		9		27		14		54
Commercial real estate—construction and mortgage		—		3		1		1		1
Consumer		58		51		43		45		45
Total loan recoveries		73		63		71		60		100
Net charge-offs	$	150		155		140		116		51
Commercial loans net charge-offs as % of average commercial loans, net (d)		0.07	%	0.07		0.04		0.03		(0.06	)
Consumer loans net charge-offs as % of average consumer loans, net (d)		0.19		0.20		0.19		0.32		0.23
Total net charge-offs as % of average loans, net (d)		0.14	%	0.15		0.14		0.16		0.08
NONPERFORMING ASSETS
Nonaccrual loans
Commercial, financial and agricultural	$	318		303		226		275		299
Commercial real estate—construction and mortgage		161		117		93		80		88
Consumer real estate secured		1,336		1,113		900		213		226
Installment loans		42		51		15		10		6
Total nonaccrual loans		1,857		1,584		1,234		578		619
Foreclosed properties (c)		207		155		132		181		99
Total nonperforming assets	$	2,064		1,739		1,366		759		718
Nonperforming loans included in loans held for sale	$	42		26		16		23		23
Nonperforming assets included in loans and in loans held for sale	$	2,106		1,765		1,382		782		741
as % of loans, net, and foreclosed properties (b)		0.48	%	0.41		0.32		0.26		0.25
as % of loans, net, foreclosed properties and loans held for sale (e)		0.47	%	0.40		0.32		0.26		0.25
Accruing loans past due 90 days	$	562		555		650		666		624

(a) At June 30, 2007, the reserve for unfunded lending commitments was $162 million.

(b) These ratios do not include nonperforming loans included in loans held for sale.

(c) Restructured loans are not significant.

(d) Annualized.

(e) These ratios reflect nonperforming loans included in loans held for sale. Loans held for sale are recorded at the lower of cost or market value, and accordingly, the amounts shown and included in the ratios are net of the transferred allowance for loan losses and the lower of cost or market value adjustments.

PAGE 17

WACHOVIA CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	2007					2006
(In millions, except per share data)	Second Quarter			First Quarter		Fourth Quarter		Third Quarter		Second Quarter
ASSETS
Cash and due from banks	$	12,065		12,593		15,826		11,850		12,761
Interest-bearing bank balances		3,585		3,451		2,167		5,270		2,244
Federal funds sold and securities purchased under resale agreements		11,511		10,322		16,923		18,497		17,223
Total cash and cash equivalents		27,161		26,366		34,916		35,617		32,228
Trading account assets		53,604		50,752		45,529		43,904		46,552
Securities		106,184		106,841		108,619		106,553		119,179
Loans, net of unearned income		429,120		421,663		420,158		290,759		282,916
Allowance for loan losses		(3,390	)	(3,378	)	(3,360	)	(3,004	)	(3,021	)
Loans, net		425,730		418,285		416,798		287,755		279,895
Loans held for sale		17,733		15,032		12,568		9,039		7,750
Premises and equipment		6,080		6,058		6,141		5,536		5,322
Due from customers on acceptances		831		992		855		1,200		1,010
Goodwill		38,766		38,838		38,379		23,535		23,550
Other intangible assets		1,468		1,570		1,635		1,355		1,435
Other assets		42,365		41,672		41,681		45,428		36,693
Total assets	$	719,922		706,406		707,121		559,922		553,614
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Noninterest-bearing deposits		62,112		63,399		66,572		63,880		66,388
Interest-bearing deposits		351,553		344,749		340,886		259,418		261,226
Total deposits		413,665		408,148		407,458		323,298		327,614
Short-term borrowings		52,715		47,144		49,157		58,749		62,787
Bank acceptances outstanding		840		1,004		863		1,213		1,021
Trading account liabilities		20,179		18,150		18,228		19,553		18,409
Other liabilities		18,079		16,741		20,004		16,513		17,305
Long-term debt		142,047		142,334		138,594		86,419		74,627
Total liabilities		647,525		633,521		634,304		505,745		501,763
Minority interest in net assets of consolidated subsidiaries		3,131		3,099		3,101		2,997		2,979
STOCKHOLDERS’ EQUITY
Dividend Equalization Preferred shares, no par value, 97 million shares issued and outstanding at June 30, 2007		—		—		—		—		—
Non-Cumulative Perpetual Class A Preferred Stock, Series I, $100,000 liquidation preference per share, 25,010 shares authorized		—		—		—		—		—
Common stock, $3.33-1/3 par value; authorized 3 billion shares, outstanding 1.903 billion shares at June 30, 2007		6,343		6,378		6,347		5,271		5,298
Paid-in capital		51,851		51,964		51,746		34,276		34,086
Retained earnings		14,335		13,378		13,723		12,696		12,003
Accumulated other comprehensive income, net		(3,263	)	(1,934	)	(2,100	)	(1,063	)	(2,515	)
Total stockholders’ equity		69,266		69,786		69,716		51,180		48,872
Total liabilities and stockholders’ equity	$	719,922		706,406		707,121		559,922		553,614

PAGE 18

WACHOVIA CORPORATION AND SUBSIDIARIES

NET INTEREST INCOME SUMMARIES

(Unaudited)

	SECOND QUARTER 2007						FIRST QUARTER 2007
(In millions)	Average Balances		Interest Income/ Expense		Average Rates Earned/ Paid		Average Balances		Interest Income/ Expense		Average Rates Earned/ Paid
ASSETS
Interest-bearing bank balances	$	4,211		61	5.85	%	$	2,173		38	7.05	%
Federal funds sold and securities purchased under resale agreements		12,110		159	5.25			14,124		177	5.07
Trading account assets		35,165		519	5.90			29,681		442	5.97
Securities		108,433		1,467	5.41			108,071		1,461	5.42
Loans
Commercial
Commercial, financial and agricultural		101,012		1,805	7.16			98,413		1,736	7.16
Real estate—construction and other		17,334		329	7.62			16,508		313	7.69
Real estate—mortgage		20,175		378	7.53			20,231		380	7.61
Lease financing		7,759		150	7.74			7,730		150	7.75
Foreign		19,232		265	5.51			14,406		196	5.49
Total commercial		165,512		2,927	7.09			157,288		2,775	7.15
Consumer
Real estate secured		222,096		4,042	7.28			225,909		4,148	7.36
Student loans		8,850		141	6.42			8,524		136	6.47
Installment loans		24,799		609	9.38			23,540		566	9.42
Total consumer		255,745		4,792	7.46			257,973		4,850	7.52
Total loans		421,257		7,719	7.31			415,261		7,625	7.38
Loans held for sale		17,644		285	6.47			16,748		255	6.16
Other earning assets		7,985		144	7.23			8,255		139	6.82
Total earning assets excluding derivatives		606,805		10,354	6.81			594,313		10,137	6.85
Risk management derivatives (a)		—		46	0.04			—		48	0.04
Total earning assets including derivatives		606,805		10,400	6.85			594,313		10,185	6.89
Cash and due from banks		11,533						12,260
Other assets		90,265						88,875
Total assets	$	708,603					$	695,448
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing deposits
Savings and NOW accounts		83,977		367	1.75			84,247		373	1.80
Money market accounts		111,562		976	3.51			107,785		917	3.45
Other consumer time		120,684		1,455	4.84			116,262		1,369	4.77
Foreign		21,871		270	4.96			20,802		249	4.85
Other time		11,054		146	5.27			12,803		167	5.32
Total interest-bearing deposits		349,148		3,214	3.69			341,899		3,075	3.65
Federal funds purchased and securities sold under repurchase     agreements		38,031		473	4.98			35,142		430	4.97
Commercial paper		5,143		60	4.67			4,920		57	4.72
Securities sold short		7,158		67	3.75			8,709		83	3.86
Other short-term borrowings		7,688		52	2.77			6,898		44	2.54
Long-term debt		143,504		1,923	5.37			141,979		1,880	5.35
Total interest-bearing liabilities excluding derivatives		550,672		5,789	4.22			539,547		5,569	4.18
Risk management derivatives (a)		—		151	0.11			—		119	0.09
Total interest-bearing liabilities including derivatives		550,672		5,940	4.33			539,547		5,688	4.27
Noninterest-bearing deposits		62,273						60,976
Other liabilities		26,341						25,605
Stockholders’ equity		69,317						69,320
Total liabilities and stockholders’ equity	$	708,603					$	695,448
Interest income and rate earned—including derivatives			$	10,400	6.85	%			$	10,185	6.89	%
Interest expense and equivalent rate paid—including derivatives				5,940	3.93					5,688	3.88
Net interest income and margin—including derivatives			$	4,460	2.92	%			$	4,497	3.01	%

(a) The rates earned and the rates paid on risk management derivatives are based on off-balance sheet notional amounts. The fair value of these instruments is included in other assets and other liabilities.

PAGE 19

WACHOVIA CORPORATION AND SUBSIDIARIES

NET INTEREST INCOME SUMMARIES

(Unaudited)

FOURTH QUARTER 2006						THIRD QUARTER 2006						SECOND QUARTER 2006
Average Balances		Interest Income/ Expense		Average Rates Earned/ Paid		Average Balances		Interest Income/ Expense		Average Rates Earned/ Paid		Average Balances		Interest Income/ Expense		Average Rates Earned/ Paid
$	3,596		54	5.95	%	$	2,671		34	5.07	%	$	2,027		25	5.04	%
	20,830		268	5.11			17,530		224	5.08			17,628		209	4.75
	31,069		469	6.03			31,160		409	5.24			29,252		393	5.37
	108,543		1,467	5.40			122,152		1,661	5.44			124,102		1,668	5.38
	96,359		1,726	7.10			93,886		1,673	7.07			90,259		1,555	6.92
	16,091		311	7.67			15,787		308	7.74			14,946		277	7.43
	19,830		380	7.61			19,507		378	7.69			20,118		369	7.36
	9,674		166	6.88			9,731		172	7.04			9,895		175	7.08
	12,352		170	5.49			11,655		158	5.37			11,123		142	5.10
	154,306		2,753	7.08			150,566		2,689	7.09			146,341		2,518	6.90
	226,870		4,240	7.47			99,669		1,670	6.69			97,377		1,584	6.51
	8,886		145	6.49			9,605		161	6.65			10,842		170	6.30
	22,499		546	9.62			21,270		517	9.66			20,705		482	9.33
	258,255		4,931	7.63			130,544		2,348	7.17			128,924		2,236	6.95
	412,561		7,684	7.42			281,110		5,037	7.13			275,265		4,754	6.92
	11,928		200	6.70			12,130		214	6.99			9,320		165	7.11
	8,366		149	7.05			5,386		113	8.35			5,638		99	7.00
	596,893		10,291	6.87			472,139		7,692	6.49			463,232		7,313	6.32
	—		114	0.08			—		129	0.11			—		125	0.11
	596,893		10,405	6.95			472,139		7,821	6.60			463,232		7,438	6.43
	12,418						11,973						12,055
	89,376						71,052						68,325
$	698,687					$	555,164					$	543,612
	82,924		398	1.90			75,534		355	1.86			78,539		332	1.70
	104,620		913	3.46			99,788		862	3.43			99,212		764	3.09
	111,858		1,310	4.65			52,352		548	4.15			48,389		465	3.85
	20,245		241	4.73			20,599		244	4.70			21,031		234	4.47
	12,708		166	5.17			14,534		191	5.23			15,269		197	5.16
	332,355		3,028	3.61			262,807		2,200	3.32			262,440		1,992	3.04
	43,732		537	4.87			51,314		629	4.86			48,732		543	4.47
	5,043		60	4.72			5,190		63	4.77			4,659		51	4.45
	9,934		94	3.75			8,951		82	3.61			9,255		74	3.21
	6,530		38	2.38			5,575		30	2.14			6,423		36	2.24
	139,364		1,873	5.35			80,726		1,095	5.41			71,725		940	5.25
	536,958		5,630	4.16			414,563		4,099	3.93			403,234		3,636	3.62
	—		163	0.13			—		144	0.14			—		127	0.12
	536,958		5,793	4.29			414,563		4,243	4.07			403,234		3,763	3.74
	63,025						63,553						65,498
	28,979						26,905						25,817
	69,725						50,143						49,063
$	698,687					$	555,164					$	543,612
		$	10,405	6.95	%			$	7,821	6.60	%			$	7,438	6.43	%
			5,793	3.86					4,243	3.57					3,763	3.25
		$	4,612	3.09	%			$	3,578	3.03	%			$	3,675	3.18	%

PAGE 20

WACHOVIA CORPORATION AND SUBSIDIARIES

NET INTEREST INCOME SUMMARIES

(Unaudited)

	SIX MONTHS ENDED June 30, 2007						SIX MONTHS ENDED June 30, 2006
(In millions)	Average Balances		Interest Income/ Expense		Average Rates Earned/ Paid		Average Balances		Interest Income/ Expense		Average Rates Earned/ Paid
ASSETS
Interest-bearing bank balances	$	3,198		99	6.25	%	$	2,447		56	4.61	%
Federal funds sold and securities purchased under resale agreements		13,111		336	5.16			18,637		418	4.52
Trading account assets		32,438		961	5.93			28,252		737	5.23
Securities		108,253		2,928	5.42			121,040		3,225	5.33
Loans
Commercial
Commercial, financial and agricultural		99,719		3,541	7.16			89,029		2,966	6.72
Real estate—construction and other		16,924		642	7.65			14,567		520	7.19
Real estate—mortgage		20,203		758	7.57			20,142		719	7.20
Lease financing		7,745		300	7.74			9,972		346	6.95
Foreign		16,832		461	5.50			10,706		260	4.89
Total commercial		161,423		5,702	7.12			144,416		4,811	6.71
Consumer
Real estate secured		223,992		8,190	7.32			96,733		3,098	6.41
Student loans		8,688		277	6.45			10,716		327	6.15
Installment loans		24,172		1,175	9.40			16,095		724	9.06
Total consumer		256,852		9,642	7.49			123,544		4,149	6.74
Total loans		418,275		15,344	7.35			267,960		8,960	6.72
Loans held for sale		17,199		540	6.32			8,800		293	6.70
Other earning assets		8,120		283	7.02			5,801		217	7.53
Total earning assets excluding derivatives		600,594		20,491	6.83			452,937		13,906	6.17
Risk management derivatives (a)		—		94	0.04			—		288	0.12
Total earning assets including derivatives		600,594		20,585	6.87			452,937		14,194	6.29
Cash and due from banks		11,894						12,406
Other assets		89,574						67,627
Total assets	$	702,062					$	532,970
LIABILITIES AND STOCKHOLDERS’ EQUITY
Interest-bearing deposits
Savings and NOW accounts		84,111		740	1.77			79,158		636	1.62
Money market accounts		109,684		1,893	3.48			99,421		1,434	2.91
Other consumer time		118,485		2,824	4.81			47,354		872	3.71
Foreign		21,340		519	4.90			20,186		421	4.21
Other time		11,924		313	5.29			14,282		350	4.93
Total interest-bearing deposits		345,544		6,289	3.67			260,401		3,713	2.88
Federal funds purchased and securities sold under repurchase agreements		36,595		903	4.97			49,406		1,046	4.27
Commercial paper		5,032		117	4.70			4,427		92	4.20
Securities sold short		7,929		150	3.81			8,889		137	3.12
Other short-term borrowings		7,294		96	2.66			6,817		76	2.25
Long-term debt		142,746		3,803	5.36			63,932		1,637	5.13
Total interest-bearing liabilities excluding derivatives		545,140		11,358	4.20			393,872		6,701	3.43
Risk management derivatives (a)		—		270	0.10			—		279	0.14
Total interest-bearing liabilities including derivatives		545,140		11,628	4.30			393,872		6,980	3.57
Noninterest-bearing deposits		61,628						64,997
Other liabilities		25,976						25,603
Stockholders’ equity		69,318						48,498
Total liabilities and stockholders’ equity	$	702,062					$	532,970
Interest income and rate earned—including derivatives			$	20,585	6.87	%			$	14,194	6.29	%
Interest expense and equivalent rate paid—including derivatives				11,628	3.90					6,980	3.10
Net interest income and margin—including derivatives			$	8,957	2.97	%			$	7,214	3.19	%

(a) The rates earned and the rates paid on risk management derivatives are based on off-balance sheet notional amounts. The fair value of these instruments is included in other assets and other liabilities.

PAGE 21

WACHOVIA CORPORATION AND SUBSIDIARIES

RECONCILIATION OF CERTAIN NON-GAAP FINANCIAL MEASURES

(Unaudited)

		2007					2006
(In millions, except per share data)	*	Second Quarter			First Quarter		Fourth Quarter		Third Quarter		Second Quarter
INCOME FROM CONTINUING OPERATIONS
Net income (GAAP)	A	$	2,341		2,302		2,301		1,877		1,885
Discontinued operations, net of income taxes (GAAP)			—		—		(46	)	—		—
Income from continuing operations (GAAP)			2,341		2,302		2,255		1,877		1,885
Merger-related and restructuring expenses (GAAP)			20		6		29		25		15
Earnings excluding merger-related and restructuring expenses, and discontinued operations	B		2,361		2,308		2,284		1,902		1,900
Other intangible amortization (GAAP)			66		76		90		59		64
Earnings excluding merger-related and restructuring expenses, other intangible amortization and discontinued operations	C	$	2,427		2,384		2,374		1,961		1,964
RETURN ON AVERAGE COMMON STOCKHOLDERS’ EQUITY
Average common stockholders’ equity (GAAP)	D	$	69,317		69,320		69,725		50,143		49,063
Merger-related and restructuring expenses (GAAP)			14		1		95		70		50
Discontinued operations (GAAP)			—		—		(8	)	—		—
Average common stockholders’ equity, excluding merger-related and restructuring expenses, and discontinued operations	E		69,331		69,321		69,812		50,213		49,113
Average intangible assets (GAAP)	F		(40,328	)	(40,263	)	(39,979	)	(24,943	)	(24,972	)
Average common stockholders’ equity, excluding merger-related and restructuring expenses, other intangible amortization and discontinued operations	G	$	29,003		29,058		29,833		25,270		24,141
Return on average common stockholders’ equity
GAAP	A/D		13.54	%	13.47		13.09		14.85		15.41
Excluding merger-related and restructuring expenses, and discontinued operations	B/E		13.66		13.50		12.98		15.02		15.52
Return on average tangible common stockholders’ equity
GAAP	A/D+F		32.38		32.14		30.68		29.55		31.38
Excluding merger-related and restructuring expenses, other intangible amortization and discontinued operations	C/G		33.57	%	33.27		31.58		30.79		32.63
RETURN ON AVERAGE ASSETS
Average assets (GAAP)	H	$	708,603		695,448		698,687		555,164		543,612
Average intangible assets (GAAP)			(40,328	)	(40,263	)	(39,979	)	(24,943	)	(24,972	)
Average tangible assets (GAAP)	I		668,275		655,185		658,708		530,221		518,640
Average assets (GAAP)			708,603		695,448		698,687		555,164		543,612
Merger-related and restructuring expenses (GAAP)			14		1		95		70		50
Discontinued operations (GAAP)			—		—		(8	)	—		—
Average assets, excluding merger-related and restructuring expenses, and discontinued operations	J		708,617		695,449		698,774		555,234		543,662
Average intangible assets (GAAP)			(40,328	)	(40,263	)	(39,979	)	(24,943	)	(24,972	)
Average tangible assets, excluding merger-related and restructuring expenses, and discontinued operations	K	$	668,289		655,186		658,795		530,291		518,690
Return on average assets
GAAP	A/H		1.32	%	1.34		1.31		1.34		1.39
Excluding merger-related and restructuring expenses, and discontinued operations	B/J		1.34		1.35		1.30		1.36		1.40
Return on average tangible assets
GAAP	A/I		1.40		1.43		1.39		1.40		1.46
Excluding merger-related and restructuring expenses, other intangible amortization and discontinued operations	C/K		1.46	%	1.48		1.43		1.47		1.52

PAGE 22

WACHOVIA CORPORATION AND SUBSIDIARIES

RECONCILIATION OF CERTAIN NON-GAAP FINANCIAL MEASURES

(Unaudited)

		2007					2006
(In millions, except per share data)	*	Second Quarter			First Quarter		Fourth Quarter		Third Quarter		Second Quarter
OVERHEAD EFFICIENCY RATIOS
Noninterest expense (GAAP)	L	$	4,856		4,588		4,931		4,045		4,261
Merger-related and restructuring expenses (GAAP)			(32	)	(10	)	(49	)	(38	)	(24	)
Noninterest expense, excluding merger-related and restructuring expenses	M		4,824		4,578		4,882		4,007		4,237
Other intangible amortization (GAAP)			(103	)	(118	)	(141	)	(92	)	(98	)
Noninterest expense, excluding merger-related and restructuring expenses, and other intangible amortization	N	$	4,721		4,460		4,741		3,915		4,139
Net interest income (GAAP)		$	4,421		4,460		4,577		3,541		3,641
Tax-equivalent adjustment			39		37		35		37		34
Net interest income (Tax-equivalent)			4,460		4,497		4,612		3,578		3,675
Fee and other income (GAAP)			4,234		3,741		3,980		3,465		3,583
Total	O	$	8,694		8,238		8,592		7,043		7,258
Retail Brokerage Services, excluding insurance
Noninterest expense (GAAP)	P	$	1,052		995		984		894		925
Net interest income (GAAP)		$	251		252		249		246		258
Tax-equivalent adjustment			—		—		—		—		1
Net interest income (Tax-equivalent)			251		252		249		246		259
Fee and other income (GAAP)			1,160		1,144		1,071		968		970
Total	Q	$	1,411		1,396		1,320		1,214		1,229
Overhead efficiency ratios
GAAP	L/O		55.85	%	55.70		57.38		57.44		58.71
Excluding merger-related and restructuring expenses	M/O		55.48		55.57		56.81		56.90		58.39
Excluding merger-related and restructuring expenses, and brokerage	M-P/O-Q		51.78		52.37		53.60		53.41		54.96
Excluding merger-related and restructuring expenses, and other intangible amortization	N/O		54.29		54.15		55.17		55.60		57.03
Excluding merger-related and restructuring expenses, other intangible amortization and brokerage	N-P/ O-Q		50.36	%	50.65		51.65		51.84		53.31
OPERATING LEVERAGE
Operating leverage (GAAP)		$	189		(13	)	665		1		180
Merger-related and restructuring expenses (GAAP)			21		(38	)	10		15		(45	)
Operating leverage, excluding merger-related and restructuring expenses			210		(51	)	675		16		135
Other intangible amortization (GAAP)			(13	)	(24	)	50		(8	)	7
Operating leverage, excluding merger-related and restructuring     expenses, and other intangible amortization		$	197		(75	)	725		8		142
DIVIDEND PAYOUT RATIOS ON COMMON SHARES
Dividends paid per common share	R	$	0.56		0.56		0.56		0.56		0.51
Diluted earnings per common share (GAAP)	S	$	1.22		1.20		1.20		1.17		1.17
Merger-related and restructuring expenses (GAAP)			0.01		—		0.01		0.02		0.01
Other intangible amortization (GAAP)			0.04		0.04		0.05		0.04		0.04
Discontinued operations (GAAP)			—		—		(0.02	)	—		—
Diluted earnings per common share, excluding merger-related and restructuring expenses, other intangible amortization and discontinued operations	T	$	1.27		1.24		1.24		1.23		1.22
Dividend payout ratios
GAAP	R/S		45.90	%	46.67		46.67		47.86		43.59
Excluding merger-related and restructuring expenses, other intangible amortization and discontinued operations	R/T		44.09	%	45.16		45.16		45.53		41.80

* The letters included in the columns are provided to show how the various ratios presented in the tables on pages 21 and 22 are calculated. For example, return on average assets on a GAAP basis is calculated by dividing income (GAAP) by average assets (GAAP) (i.e., A/H) and annualized where appropriate.