Curtis Magleby Joins Wachovia Securities Real Estate Investment Banking Group

CHARLOTTE, N.C., March 21 /PRNewswire-FirstCall/ -- Wachovia Securities announced today that Curtis Magleby has joined the firm as a Managing Director in the Real Estate Investment Banking Group. Magleby, who is based in Los Angeles, will focus on the gaming sector and report to Lawrence Gray, Head of the Real Estate Investment Banking Group.

"Curt will be a terrific addition to our team. His knowledge of the gaming business and the depth of his relationships will bring great power to our platform in targeting this market. We are focused on providing the full range of our capabilities to become a leading presence in the gaming sector, and I feel confident in Curt's ability to drive our origination effort," said Gray.

Magleby joins Wachovia from the Los Angeles office of Lehman Brothers, where he worked for the past seven years in the gaming and lodging sector. Before joining Lehman in 1998, Magleby worked at Salomon Smith Barney. He earned a BS from Brigham Young University.

Wachovia Securities has staked a claim as a leader in commercial real estate corporate finance, ranking among the top three lead managers in common and preferred equity, and investment grade debt and loan syndication issuance last year for its REIT and Real Estate Operating Company clients. In 2004, the firm ranked in the top five for mergers and acquisitions advisory in the real estate sector.

Wachovia Securities is the trade name for the corporate, investment banking, capital markets and securities research businesses of Wachovia Corporation and its subsidiaries, including Wachovia Capital Markets, LLC (WCM) and Wachovia Securities International Limited. Wachovia Securities is also the trade name for the retail brokerage businesses of WCM's affiliates, Wachovia Securities, LLC, Wachovia Securities Financial Networks, LLC, Wexford Clearing, LLC, and First Clearing, LLC.

Wachovia Capital Markets, LLC, is a U.S. broker-dealer registered with the U.S. Securities and Exchange Commission and a member of the New York Stock Exchange, the National Association of Securities Dealers, Inc., and the Securities Investor Protection Corp. Wachovia Securities International Limited is a U.K. incorporated investment firm authorized and regulated by the Financial Services Authority.

About Wachovia

Wachovia Corporation is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $493.3 billion, market capitalization of $83.5 billion and stockholders' equity of $47.3 billion at December 31, 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve customers primarily in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states and five Latin American countries. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through Wachovia.com.