-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 PDl4IXQRpoub1+PewwnC7aeLNmaEIv8tReVGjENVbY4AgjZ1DLhIhnxxL1Vnv28f
 XW3R16NjIRjMzsV0xBC8nQ==

<SEC-DOCUMENT>0000891836-03-000718.txt : 20031212
<SEC-HEADER>0000891836-03-000718.hdr.sgml : 20031212
<ACCEPTANCE-DATETIME>20031212212556
ACCESSION NUMBER:		0000891836-03-000718
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20021216
FILED AS OF DATE:		20031212

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WACHOVIA PREFERRED FUNDING CORP
		CENTRAL INDEX KEY:			0001188382
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				561986430
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		301 SOUTH COLLEGE ST
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28288
		BUSINESS PHONE:		7043746558

	MAIL ADDRESS:	
		STREET 1:		301 S COLLEGE ST
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28288

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WACHOVIA CORP NEW
		CENTRAL INDEX KEY:			0000036995
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31557
		FILM NUMBER:		031053008

	BUSINESS ADDRESS:	
		STREET 1:		ONE FIRST UNION CTR
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28288-0013
		BUSINESS PHONE:		7043746565

	MAIL ADDRESS:	
		STREET 1:		ONE FIRST UNION CENTER
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28288-0013

	FORMER NAME:	
		FORMER CONFORMED NAME:	FIRST UNION CORP
		DATE OF NAME CHANGE:	19920703

	FORMER NAME:	
		FORMER CONFORMED NAME:	CAMERON FINANCIAL CORP
		DATE OF NAME CHANGE:	19750522

	FORMER NAME:	
		FORMER CONFORMED NAME:	FIRST UNION NATIONAL BANCORP INC
		DATE OF NAME CHANGE:	19721115
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>sc0365-03_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2002-12-16</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001188382</issuerCik>
        <issuerName>WACHOVIA PREFERRED FUNDING CORP</issuerName>
        <issuerTradingSymbol>WNA Pr</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000036995</rptOwnerCik>
            <rptOwnerName>WACHOVIA CORP NEW</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ONE FIRST UNION CTR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CHARLOTTE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>28288-0013</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>1</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>7.25% Non-cumulative Series A Preferred Securities</value>
      </securityTitle>
      <transactionDate>
         <value>2002-12-16</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>S</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>18000000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>25.00</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>12000000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>(1)</value>
            <footnoteId id="F1"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
   <footnotes>
      <footnote id="F1"> These securities are owned directly by Wachovia Preferred Funding Holding Corp., which is a subsidiary of Wachovia Bank, National Association, which is a wholly owned subsidiary of Wachovia Corporation.  Wachovia Corporation is an indirect beneficial owner of the reported securities.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/ Ross E. Jeffries, Jr.</signatureName>
      <signatureDate>2003-12-12</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----