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Wachovia Preferred Funding Corp. Declares Dividend on Series A Preferred Securities


June 06, 2006

CHARLOTTE, NC Wachovia Preferred Funding Corp. (NYSE: WNAPr) announced today that its board of directors has declared a regular quarterly dividend on its Series A 7.25% preferred securities. The dividend is equal to $0.453125 per Series A security.

The dividend is payable on June 30, 2006, to holders of record as of the close of business on June 15, 2006.

Wachovia Preferred Funding Corp. (NYSE: WNAPr) is an indirect subsidiary of Wachovia Corporation and is qualified as a real estate investment trust for federal income tax purposes.

Media Contact: Christy Phillips
(704) 383-8178

Investor Contact: Alice Lehman
(704) 374-4139


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