EXHIBIT T-7

REPORT OF CONDITION

        Consolidating domestic and foreign subsidiaries of Wachovia Bank, N.A., at the close of business on September 30, 2004, published in response to call made by Comptroller of the Currency, under title 12, United States Code, Section 161. Charter Number 1 Comptroller of the Currency.

Statement of Resources and Liabilities

			Thousand of Dollars
ASSETS
Cash and balance due from depository institutions:
	Noninterest-bearing balances and currency and coin		11.360,000
	Interest-bearing balances		5,991,000
Securities
	Held-to-maturity securities (from Schedule RC-B, column A)		0
	Available-for-sale securities (from schedule RC-B, column D)		99,470,000
Federal funds sold and securities purchased under agreements to resell			0
Federal funds sold in domestic offices			4,035,000
Securities purchased under agreements to resell			5,584,000
Loans and lease financing receivables (from Schedule RC-C):
	Loan and leases held for sale		17,694,000
	Loan and leases, net of unearned income		172,075,000
	LESS: Allowance for loan and lease losses		2,259,000
	LESS: Allocated transfer risk reserve		0
	Loans and leases, net of unearned income and allowance (item.4.b minus 4.c)		169,816,000
Trading assets (from Schedule RC-D)			27,517,000
Premises and fixed assets (including capitalized leases)			3,180,000
Other real estate owned (from Schedule RC-M)			137,000
Investment in unconsolidated subsidiaries and associated companies (from Schedule RC-M)			1,031,000
Customer's liability to this bank on acceptances outstanding			563,000
Intangible assets
	Goodwill		9,589,000
Other intangible assets (from Schedule RC-M)			1,437,000
Other assets (from Schedule RC-F)			22,832,000
		Total assets	380,236,000
LIABILITIES
Deposits:
	In domestic offices		244,923,000
		Noninterest-bearing	7,819,000
		Interest-bearing	237,104,000
	In foreign offices, Edge and Agreement subsidiaries, and IBFs (from Schedule RC-E, partII)		18,401,000
		Noninterest-bearing	55,000
		Interest-bearing	18,346,000
Federal funds purchased in domestic offices(2)			1,739,000
Securities sold under agreements to repurchase(3)			19,462,000

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Trading liabilities(from Schedule RC-D)		15,105,000
Other borrowed money (includes mortgage indebtedness and obligations under Capitalized leases)(from Schedule RC-M)		27,412,000
Bank's liability on acceptances executed and outstanding		570,000
Subordinated notes and debentures.		9,103,000
Other liabilities		9,511,000
	Total liabilities	346,226,000
Minority Interest in consolidated subsidiaries		1,680,000
EQUITY CAPITAL
Perpetual preferred stock and related surplus		0
Common Stock		455,000
Surplus		24,216,000
Retained Earnings		6,700,000
Accumulated other comprehensive income		959,000
Other Equity Capital components		0
Total equity capital (sum of item 23 through 27)		32,330,000
Total liabilities and equity capital (sum of items 21,22, and 28		380,236,000

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