Head of Institutional Investment Strategies and Chief Investment Strategist at Bear, Stearns & Co., to Appear on `Corporate Strategies with Tim Connolly' Sunday, Jan. 19 at 7:10 PM CST

Business Wire, Jan 17, 2003

Business Editors

HOUSTON--(BUSINESS WIRE)--Jan. 17, 2003

Leo M. Tilman, managing director and head of institutional investment strategies, and Francois Trahan, managing director and chief investment strategist, both at Bear Stearns & Co., will appear live on "Corporate Strategies with Tim Connolly" Sunday, Jan. 19 at 7:10 p.m. CST. They will take live questions from listeners and discuss Bear Stearns 2003 fixed income and allocation strategy. The interview can be heard live on www.businesstalkradio.net or on over 275 local affiliates nationwide. Listeners may call Mr. Tilman and Mr. Trahan toll free at 877/266-7469 with questions or comments. This hour of "Corporate Strategies with Tim Connolly" is hosted by Tim Connolly of Corporate Strategies Merchant Bankers (www.corporate-strategies.net) and Senior Vice Presidents Scott Eisler and Michael Kravitz of Wachovia Securities.

About Bear Stearns, Leo Tilman and Francois Trahan

Never an unprofitable year in 79 years -- Bear Stearns' primary emphasis is on value for shareholders. Founded in 1923, the Bear Stearns Companies Inc. is the parent company of Bear, Stearns & Company investment banking and securities trading and brokerage firm. With approximately $30.6 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide.

Leo M. Tilman is a managing director and head of institutional investment strategies at Bear, Stearns & Co. Inc. In addition to coordinating the work of the firm's Fixed Income Investment Strategy Committee, Mr. Tilman is responsible for leveraging extensive resources within Bear Stearns in providing its clients with comprehensive investment solutions, including fixed income strategy, asset/liability management, risk management, and analytics. Mr. Tilman is a co-author of the book Risk Management: Approaches for Fixed Income Markets and Contributing Editor of The Journal of Risk Finance.

Francois Trahan is a managing director and chief investment strategist at Bear, Stearns & Co. Inc. Mr. Trahan develops active fundamental investment strategy for the firm's institutional and high net worth clients. Francois joined Bear Stearns from Brown Brothers Harriman & Co. where he was a strategist overseeing that firm's equity sector recommendations and its stock focus list.

About Wachovia Corporation, Scott Eisler and Michael Kravitz

Co-hosts Scott Eisler and Michael Kravitz are senior vice presidents of Wachovia Securities. Wachovia Corporation (NYSE:WB), created through the Sept. 1, 2001, merger of First Union and Wachovia, is a leading provider of financial services to 20 million retail, brokerage and corporate customers throughout the East Coast and the nation. Its four core businesses are: the General Bank, Capital Management Group, Wealth Management Group and the Corporate and Investment Bank. As of June 30, 2002, Wachovia had $325 billion in assets, a market capitalization of $52 billion, and stockholder's equity of $30 billion. Wachovia Corporation is the fourth largest bank holding company based on assets and Wachovia Securities is the fifth largest broker-dealer in the United States.

"Corporate Strategies with Tim Connolly" is live talk radio...with the Titans of Business who move financial markets! The show is hosted by Tim Connolly, CEO of Merchant Banker Corporate Strategies Inc. The executive producer of "Corporate Strategies with Tim Connolly" is broadcast news veteran Jan Carson, an award-winning journalist with more than 20 years experience as a top rated television news anchor and reporter for NBC, ABC and CBS network affiliates. "Corporate Strategies with Tim Connolly" features financial experts from across the nation providing the latest intelligence on equities, income investments, and a variety of risk, equity and option strategies. Noted Economist Mike King of Princeton Research provides live technical analysis for the show and hosts the "Not For Widows and Orphans" segment of "Corporate Strategies with Tim Connolly" from 8:00 p.m. to 9:00 p.m. CST.