Wachovia Preferred Funding Corp. Declare Dividend On Series A Preferred Securities

CHARLOTTE, N.C.—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 July 2, 2007, to holders of record as of the close of business on June 15, 2007.

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.