Exhibit 99.1

                                                                      [WACHOVIA]
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News Announcement

                                                        Wachovia Corporation
                                                        Atlanta, GA  30383
                                                        Winston-Salem, NC  27150
For Additional Information:
Robert S. McCoy, Jr.
Chief Financial Officer, 336-732-5926

Marsha L. Smunt
Investor Relations, 336-732-5788

March 30, 2001

 Wachovia Concludes Analyst/Investor Conference with Five-Year Income Projection
         And Comments on 2001 Earnings Expectations for Quarter and Year

     Wachovia Corporation (NYSE:WB) concluded its two-day Analyst and
Institutional Investor Conference on Thursday, March 29, in Winston-Salem, N.C.,
with a five-year projection for a compounded annual growth rate in pretax
operating income of 14 percent.

     "The business units presented forecasts that collectively deliver baseline
profit contribution supporting this projection," said Robert S. McCoy Jr., vice
chairman and chief financial officer.

     The five-year projection was based on the strategy and execution plans of
Wachovia's three primary lines of business - Asset and Wealth Management,
Corporate Financial Services and Retail Financial Services - as well as strong
market execution, operational support and exceptional risk management.

     "Companies like Wachovia, seeking high-quality relationships with
customers, will move to higher levels of service, more precise delivery of
product, greater knowledge about customer needs and flexibility in product
development and delivery," said L.M. Baker Jr., chairman and chief executive
officer. "This thinking is at the core of Wachovia's strategy and has been the
focus of growth initiatives and realignment in recent years. The result is a
company with excellent lines of business precisely pointed in the right
direction and poised to grow."

     McCoy also discussed the near-term outlook for Wachovia's earnings per
share for the first quarter and the full year 2001. McCoy said he was
"comfortable with an EPS range of $1.17 to $1.22" for the quarter. For the year
he said he expected the company to post EPS in the lower half of a $5.20 to
$5.60 range.

     A replay of the conference is available until April 4 at
www.wachovia.com/investor/conference.asp. The presentation materials are
available on the Web site. RealPlayer software is needed to listen to the audio
portion. Wachovia is making 8-K filings with the Securities and Exchange
Commission of the slides used during the conference.


Wachovia Concludes Analyst / Investor Conference
Page 2


     Wachovia Corporation, with dual headquarters in Atlanta and Winston-Salem,
N.C., is a leading financial holding company serving regional, national and
international markets. As of Dec. 31, 2000, Wachovia had assets of $74 billion.
Member companies offer consumer and commercial banking, bank card, asset and
wealth management, capital markets and investment banking, community development
finance, brokerage and insurance services. Wachovia Bank, N.A. has more than 650
offices and 1,350 ATMs primarily in Florida, Georgia, North Carolina, South
Carolina and Virginia.



This news release contains forward-looking statements regarding Wachovia
Corporation. All forward-looking statements involve risk and uncertainty and
actual results could differ materially from the anticipated results or other
expectations expressed in the forward-looking statements. A discussion of
factors that could cause actual results to differ materially from those
expressed in the forward-looking statements is included in Wachovia's filings
with the Securities and Exchange Commission.