Wachovia Foundation Awards Grant to Metropolitan

FOR IMMEDIATE RELEASE

July 9, 2003

Wachovia Foundation Awards Grant to Metropolitan Housing & CDC

Washington - On Tuesday morning, the Wachovia Foundation, headquartered in Charlotte, North Carolina, presented a grant to Metropolitan Housing & CDC in the amount of $15,000. The Housing and Business Development divisions of Metropolitan will use the funds to support programs that help people improve their financial status. “We are pleased to continue our community partnership with the folks at Metropolitan. Their untiring efforts to assist those less fortunate in the areas of housing, healthcare, and education are not only of tremendous value to those served, but to all the citizens of our community,” remarked Mr. G. William Taylor, III, Market President for Wachovia.

Wachovia and Metropolitan’s partnership is ongoing. Wachovia provides the MoneySmart curriculum that Metropolitan uses in financial literacy classes. Metropolitan received more than 50 rebuilt computers from Wachovia, which are now being used by the Business Development Center and the Field of Dreams subdivision in Grifton, North Carolina. Wachovia also helped provide construction financing to complete Field of Dreams, which consists of 56 single-family homes for victims of Hurricane Floyd.

“Metropolitan has been such a wonderful presence and has done so much for community development in the region; the bank is proud to be associated with them,” said Linda Shaw, Community Development Officer of Wachovia, following the presentation on Tuesday.

The Wachovia Foundation is a private foundation funded annually by Wachovia Corporation. They provide grants to eligible 501(c)(3) tax-exempt organizations in the areas of education, community and economic development, and quality of life.

Metropolitan Housing & CDC is a 501(c)(3) not-for-profit organization based in Washington, North Carolina. Metropolitan has built or rehabilitated more than 500 units of single- and multi-family housing for families, individuals with special needs, and senior citizens.

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Representatives from Metropolitan and Wachovia

(from left to right: G. William Taylor, III, Wachovia; Ross M. Steckley, Metropolitan Business Development Center; Linda S. Shaw, Wachovia; Susan W. Barrett, Metropolitan; Reverend David L. Moore, President and CEO of Metropolitan.)