'Uncommon Wisdom': Wachovia Debuts First National TV Campaign Since Merger; Inaugural Ads Promote Corporate and Investment Banking and Brokerage Units

Business Wire, July 17, 2002

Business Editors

In its first national television advertising campaign since last year's merger of First Union and Wachovia, Wachovia Corporation will unveil new ads beginning July 20 during the British Open. The debut TV campaign promotes Wachovia Securities, which incorporates Wachovia's and First Union's corporate and investment banking business, as well as the retail brokerage business.

Created by the Winston-Salem, N.C. office of Mullen, the campaign uses the theme "Uncommon Wisdom." Included in the initial series are seven spots that employ various metaphors to cleverly convey the unique expertise in financial services offered to customers by Wachovia, the fourth largest financial institution in America. Print ads with the same theme broke nationally in May.

Wachovia Securities Corporate and Investment Banking Group provides capital raising, lending, research and strategic advisory capabilities to corporate clients. The company's retail brokerage division, the nation's fifth-largest brokerage firm, offers financial advisory, brokerage and other financial services to individual investors and businesses.

"These commercials position Wachovia Securities as an established and capable securities firm that is also approachable and humble," said Jim Garrity, head of Corporate Marketing for Wachovia Corporation. "We want to reach forward-thinking entrepreneurial CEOs, CFOs and managing partners of mid-cap companies as well as active individual investors with this message."

"The campaign drives home the point that Wachovia Securities benefits customers with its thoughtful approach," said John Fitzgerald, president of Mullen in Winston-Salem. "The ads are intended to be unique within the financial services industry, reflecting Wachovia's distinctive perspective."

In one spot, a motorcycle travels down a country road. "What can handlebars teach us about financial relationships?" the voiceover begins. "You have to reach out to make them work," it continues. "Most valuable when faced with the unexpected" follows, as the female rider maneuvers to miss a deer in the road. "Wisdom is everywhere. Uncommon Wisdom is knowing how to apply it" concludes the voiceover as the screen fades to the logo and tagline "Uncommon Wisdom."

"What can a foreign film teach us about capital markets?" begins another spot, opening in in a movie theatre with a film playing onscreen. "They're not for everybody," continues the voiceover, over background sound from the foreign film. "It helps to speak the language," advises the voiceover. The spot concludes with "Wisdom is everywhere. Uncommon Wisdom is knowing how to apply it" followed by a fade to the logo and "Uncommon Wisdom" tag.

The new spots are set to break July 20 during the British Open on ABC and will air on such cable and network properties as CNN, CNNfn, CNBC, Bloomberg and PGA Golf and NFL Football.

The campaign's print ads were launched in May in national publications including the Wall Street Journal, Forbes, Fortune, BusinessWeek, USA Today and others.

The entire roll-out will take place over the next two years, promoting all business units of Wachovia. The next phase of the campaign, focusing on the company's retail banking and wholesale customers, will launch in November in Florida in tandem with the merging of First Union and Wachovia branches there.

About Wachovia Corporation

Wachovia Corporation, created through the September 1, 2001, merger of First Union and Wachovia with assets of $326 billion as of Sept. 30, is a leading provider of financial services to 19 million retail and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 47 states and global services through more than 30 international offices.

About Mullen

Mullen, an Interpublic company, is a $640 million full-service agency known for its interdisciplinary team approach to building brands. Mullen's client portfolio includes General Motors, Nextel, Wachovia, Eddie Bauer, LendingTree, Sealy, Swiss Army Brands, Four Seasons Hotels and Resorts, Genuity, T.J. Maxx, Golf Course Superintendents Association of America, FORTUNE, Pennsylvania Department of Tourism and Highmark. Headquartered in Wenham, MA, the agency operates full-service offices in Winston-Salem, NC, Detroit, MI, and Pittsburgh, PA. For more on Mullen, visit www.mullen.com.