Wachovia Championship

October 17, 2006

Total Charitable Contributions Grow to $5.7 Million in First Four Years

CHARLOTTE, N.C., - The 2006 Wachovia Championship, featuring a dramatic playoff victory by the world's No. 2-ranked Jim Furyk, today announced a $1 million donation to its primary charitable beneficiary, Teach For America.

During its initial four years, the Wachovia Championship has donated nearly $5.7 million to Teach For America and other charities.

Teach For America is the national corps of outstanding recent college graduates of all academic majors who commit two years to teach in rural and urban public schools in low-income communities and become lifelong leaders for expanding opportunity for all children.

"From the beginning, everyone involved with the Wachovia Championship, has held high regard for Teach For America," said Tournament Chairman Mac Everett. "We are proud to be affiliated with such a positive organization whose goal is that all children receive a quality education."

Today, nearly 4,400 Teach For America corps members are reaching nearly 375,000 students in 25 urban and rural regions nationwide, while more than 12,000 alumni are working in education, policy, law, medicine and other sectors to effect the broader changes needed to bring about educational equity in our country.

"Year in and year out, the Wachovia Championship provides golf fans with an incredibly compelling tournament, but its impact off the fairways is even more significant," said Wendy Kopp, founder and president of Teach For America. "The generous support we receive from the Wachovia Championship enables us to expand our recruitment efforts, our training, and our support for our growing number of corps members who make the commitment to teach in low-income communities across the nation. We are grateful for their continued support."

"The Wachovia Championship shares Wachovia's obsession with customer service - providing an unparalleled experience for fans, volunteers and corporate sponsors," said Shannon McFayden, Wachovia's director of Human Resources and Corporate Relations. "It also shares Wachovia's commitment to giving back -- supporting Teach For America as it pursues its ambitious goals for the future."

"Our relationship with Teach for America has always been one of our top priorities," said Kym Hougham, Wachovia Championship Executive Director. "This organization holds many of the same values and goals we have as a tournament organization, which is America's youth and their education. With assistance from Wachovia Corporation, our volunteers, corporate participants and the thousands of patrons who attend our tournament, we have been able to provide consistent support to Teach For America."

About the Wachovia Championship
The Wachovia Championship is one of the largest, most prestigious sporting events in the Charlotte region. Now leading up to its fifth year, the tournament is intended as an annual tradition that will bring customers, players and patrons back each year for an unforgettable golf experience. In a short four years, the national and international golf community has already recognized it as one of the top events on the PGA TOUR. The 2007 tournament will be held April 30-May 6. Sponsored by Wachovia Corporation (NYSE:WB), the tournament's $6.3 million purse is one of the largest on the PGA TOUR. A combination of Quail Hollow Club, the spirit of the Charlotte area community and the support of Wachovia are several reasons the Wachovia Championship has and should continue to draw many of the world's top golfers to Charlotte.

For more information, visit the tournament Web site, www.wachoviachampionship.com.