Asif Khan Joins Wachovia Securities' Structured Credit Products Group

CHARLOTTE, N.C., Aug. 10 /PRNewswire-FirstCall/ -- Wachovia Securities announced today that Asif Khan has joined the firm as a managing director in Alternative Investments and CDO Distribution within the Structured Credit Products group. Khan will be responsible for global distribution of structured products such as CDOs and fund products. He is based in New York and reports to Russ Andrews, managing director and head of CDO and Alternative Investment Distribution.

"Asif brings a wealth of experience with investors and issuers, which will enhance the strength of our distribution platform," said Andrews. "The addition of Asif reflects our commitment to expand our franchise globally."

Khan joins Wachovia Securities from Goldman Sachs, where he was Vice President, Structured Products, and responsible for managing the marketing and distribution of CDOs to a global client base. Previously, Khan was a member of Credit Suisse's CDO distribution team. He has more than 10 years of experience in fixed income, with a particular focus on Structured Products and Emerging Markets. He started his career at Salomon Brothers in New York. Khan holds an M.B.A. from the University of Rochester.

Wachovia Securities' Structured Credit Products group provides comprehensive global capabilities in CDO and structured transactions. Wachovia Securities specializes in Real Estate CDOs, Middle Market CLOs, Asset-Backed CDOs, Synthetic CDOs and Leverage Loan CLOs. The Structured Credit Products group is uniquely organized across asset classes to allow for one-stop shopping for these products.

About Wachovia's Corporate and Investment Banking Group

Wachovia's Corporate and Investment Banking group offers a full suite of products and services to public and private companies, institutional investors, financial institutions and the financial sponsor community. Investment banking and the global markets businesses (fixed income, equities, and research) operate under the Wachovia Securities brand and have become a global force in the capital markets arena by providing comprehensive advisory, capital raising, structuring, research and execution services. Wachovia's Corporate and Investment Bank also includes the 3rd largest Treasury Services business in the U.S., as well as leading asset-based lending and global correspondent banking services. The firm is built on a cohesive culture that encourages creative ideas, capital solutions, and experienced advice to all clients.

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, which is authorized and regulated by The Financial Services Authority in the United Kingdom. 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.

About Wachovia

Wachovia Corporation is one of the nation's largest diversified financial services companies, providing 13.4 million household and business relationships with a broad range of banking, asset management, wealth management and corporate and investment banking products and services. Wachovia has retail and commercial banking operations in 16 states with 3,109 offices from Connecticut to Florida and west to Texas and California. Two core businesses operate under the Wachovia Securities brand name: retail brokerage in 49 states and in Latin America, and corporate and investment banking in selected industries nationwide. Globally, Wachovia serves clients through more than 40 international offices. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com, and investment products and services at evergreeninvestments.com. Wachovia had assets of $553.6 billion, market capitalization of $86.0 billion and stockholders' equity of $48.9 billion at June 30, 2006.