Exhibit (99)(c)

WACHOVIA THIRD QUARTER 2008

FINANCIAL HIGHLIGHTS SUPPLEMENTAL TABLES

OCTOBER 22, 2008

TABLE OF CONTENTS

Earnings Summary	1
Other Financial Measures	2
Fee and Other Income	3
Noninterest Expense	4
Balance Sheet	5
Asset Quality	8
General Bank	13
Wealth Management	15
Corporate and Investment Bank	16
Capital Management	20
Parent	23
Merger-Related And Restructuring Expenses	24
Explanation of Our Use of Certain Non-GAAP Financial Measures	26
Reconciliation Of Certain Non-GAAP Financial Measures	27
Cautionary Statement	31

READERS ARE ENCOURAGED TO REFER TO WACHOVIA’S RESULTS FOR THE QUARTER ENDED JUNE 30, 2008, PRESENTED IN ACCORDANCE WITH U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (“GAAP”), WHICH MAY BE FOUND IN WACHOVIA’S SECOND QUARTER REPORT ON FORM 10-Q.

THE INFORMATION CONTAINED HEREIN INCLUDES CERTAIN NON-GAAP FINANCIAL MEASURES. PLEASE REFER TO PAGES 26-30 FOR AN IMPORTANT EXPLANATION OF OUR USE OF NON-GAAP MEASURES AND RECONCILIATION OF THOSE NON-GAAP MEASURES TO GAAP.

Wachovia 3Q08 Quarterly Earnings Report

Earnings Summary

Earnings Reconciliation

	2008													2007				3Q08 EPS
	Third Quarter					Second Quarter				First Quarter				Fourth Quarter		Third Quarter
(After-tax in millions, except per share data)	Amount			EPS		Amount		EPS		Amount		EPS		Amount	EPS	Amount	EPS	vs 2Q08		vs 3Q07
Net income (loss) available to common stockholders (GAAP)	$	(23,889	)	(11.18	)	(9,108	)	(4.31	)	(707	)	(0.36	)	51	0.03	1,618	0.85	—	%	—
Discontinued operations, net of income taxes		—		—		—		—		—		—		142	0.07	88	0.05	—		—
Net goodwill impairment		18,715		8.76		6,056		2.87		—		—		—	—	—	—	—		—
Net merger-related and restructuring expenses		414		0.19		128		0.06		123		0.06		108	0.05	22	—	—		—
Earnings excluding goodwill impairment, merger-related and restructuring expenses, and discontinued operations	$	(4,760	)	(2.23	)	(2,924	)	(1.38	)	(584	)	(0.30	)	301	0.15	1,728	0.90	62		—

Earnings Summary

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions, except per share data)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Net interest income (Tax-equivalent)	$	5,039		4,344		4,805		4,674		4,584		16	%	10
Fee and other income		733		3,165		2,777		2,744		2,933		(77	)	(75	)
Total revenue (Tax-equivalent)		5,772		7,509		7,582		7,418		7,517		(23	)	(23	)
Provision for credit losses		6,629		5,567		2,831		1,497		408		19		—
Other noninterest expense		5,966		6,376		5,097		5,488		4,397		(6	)	36
Merger-related and restructuring expenses		697		251		241		187		36		—		—
Goodwill impairment		18,786		6,060		—		—		—		—		—
Other intangible amortization		96		97		103		111		92		(1	)	4
Total noninterest expense		25,545		12,784		5,441		5,786		4,525		—		—
Minority interest in income of consolidated subsidiaries		(105	)	(18	)	155		107		189		—		—
Income (loss) from continuing operations before income taxes (benefits) (Tax-equivalent)		(26,297	)	(10,824	)	(845	)	28		2,395		—		—
Income taxes (benefits) (Tax-equivalent)		(2,599	)	(1,909	)	(181	)	(165	)	689		36		—
Income (loss) from continuing operations		(23,698	)	(8,915	)	(664	)	193		1,706		—		—
Discontinued operations, net of income taxes		—		—		—		(142	)	(88	)	—		—
Dividends on preferred stock		191		193		43		—		—		(1	)	—
Net income (loss) available to common stockholders	$	(23,889	)	(9,108	)	(707	)	51		1,618		—	%	—
Net interest margin		2.94	%	2.58		2.92		2.88		2.92		—	%	—
Effective tax rate (Tax-equivalent) (a) (b)		9.88		17.65		21.38		127.17		28.38		—		—
Tier 1 capital ratio (c)		7.4		8.0		7.4		7.4		7.1		—		—
Tangible capital ratio (excluding FAS 115/133/158)		4.6		5.1		4.6		4.5		4.6		—		—
Leverage ratio (c)		5.7	%	6.6		6.2		6.1		6.1		—		—
Average basic common shares (In millions)		2,137		2,111		1,963		1,959		1,885		1	%	13
Average diluted common shares (In millions)		2,143		2,119		1,977		1,983		1,910		1	%	12

(a) 4Q07 and 3Q07 include taxes on discontinued operations.

(b) The tax-equivalent tax rate applies to fully tax-equivalized revenues.

(c) The third quarter of 2008 is based on estimates.

Page - 1

Wachovia 3Q08 Quarterly Earnings Report

Other Financial Measures

Performance Highlights

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(Dollars in millions, except per share data)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Earnings excluding goodwill impairment, merger-related and restructuring expenses, and discontinued operations (a)(b)
Net income (loss)	$	(4,760	)	(2,924	)	(584	)	301		1,728		63	%	—
Return on average assets		(2.27	)%	(1.38	)	(0.28	)	0.16		0.94		—		—
Return on average common stockholders’ equity		(27.11	)	(15.94	)	(3.14	)	1.62		9.81		—		—
Overhead efficiency ratio (Tax-equivalent)		105.01		86.21		68.58		75.48		59.73		—		—
Overhead efficiency ratio excluding brokerage (Tax-equivalent)		107.32	%	80.64		65.47		74.54		56.82		—		—
Operating leverage (Tax-equivalent)	$	(1,325	)	(1,347	)	563		(1,208	)	(843	)	(2	)%	57
Earnings excluding goodwill impairment, merger-related and restructuring expenses, other intangible amortization and discontinued operations (a)(b)
Net income (loss)	$	(4,698	)	(2,858	)	(520	)	365		1,788		64	%	—
Dividend payout ratio on common shares		(2.27	) %	(27.78	)	(246.15	)	355.56		68.09		—		—
Return on average tangible assets		(2.35	)	(1.42	)	(0.26	)	0.20		1.03		—		—
Return on average tangible common stockholders’ equity		(59.94	)	(39.94	)	(7.07	)	5.05		23.88		—		—
Overhead efficiency ratio (Tax-equivalent)		103.34		84.92		67.22		73.97		58.51		—		—
Overhead efficiency ratio excluding brokerage (Tax-equivalent)		104.82	%	78.84		63.59		72.43		55.32		—		—
Operating leverage (Tax-equivalent)	$	(1,326	)	(1,353	)	554		(1,187	)	(855	)	(2	)%	55
Other financial data
Net interest margin		2.94	%	2.58		2.92		2.88		2.92		—		—
Fee and other income as % of total revenue		12.70		42.15		36.62		36.99		39.02		—		—
Effective tax rate (c)		10.04		18.06		26.02		122.05		27.33		—		—
Effective tax rate (Tax-equivalent) (c)		9.88	%	17.65		21.38		127.17		28.38		—		—
Asset quality
Allowance for loan losses as % of loans, net		3.18	%	2.20		1.37		0.98		0.78		—		—
Allowance for loan losses as % of nonperforming assets		102		90		78		84		115		—		—
Allowance for credit losses as % of loans, net		3.24		2.24		1.41		1.02		0.82		—		—
Net charge-offs as % of average loans, net		1.57		1.10		0.66		0.41		0.19		—		—
Nonperforming assets as % of loans, net, foreclosed properties and loans held for sale		3.05	%	2.41		1.70		1.14		0.66		—		—
Capital adequacy
Tier 1 capital ratio (d)		7.4	%	8.0		7.4		7.4		7.1		—		—
Tangible capital ratio (including FAS 115/133/158)		4.0		4.7		4.3		4.3		4.2		—		—
Tangible capital ratio (excluding FAS 115/133/158)		4.6		5.1		4.6		4.5		4.6		—		—
Leverage ratio (d)		5.7	%	6.6		6.2		6.1		6.1		—		—
Other
Average basic common shares (In millions)		2,137		2,111		1,963		1,959		1,885		1	%	13
Average diluted common shares (In millions)		2,143		2,119		1,977		1,983		1,910		1		12
Actual common shares (In millions) (e)		2,161		2,159		1,992		1,980		1,901		—		14
Dividends paid per common share	$	0.05		0.38		0.64		0.64		0.64		(87	)	(92	)
Book value per common share (e)		18.59		30.25		36.24		37.66		36.90		(39	)	(50	)
Common stock price		3.50		15.53		27.00		38.03		50.15		(77	)	(93	)
Market capitalization (e)	$	7,563		33,527		53,782		75,302		95,326		(77	)	(92	)
Common stock price to book value (e)		19	%	51		75		101		136		(63	)	(86	)
FTE employees		117,227		119,952		120,378		121,890		109,724		(2	)	7
Total financial centers/brokerage offices		4,820		4,820		4,850		4,894		4,167		—		16
ATMs		5,303		5,277		5,308		5,139		5,123		—	%	4

(a) See tables on page 1, and on pages 27 through 30 for reconciliation to earnings prepared in accordance with GAAP.

(b) See page 1 for the most directly comparable GAAP financial measure and pages 27 through 30 for reconciliation to earnings prepared in accordance with GAAP.

(c) The tax-equivalent tax rate applies to fully tax-equivalized revenues.

(d) The third quarter of 2008 is based on estimates.

(e) Includes restricted stock for which the holder receives dividends and has full voting rights.

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Wachovia 3Q08 Quarterly Earnings Report

Fee and Other Income

Fee and Other Income

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Service charges	$	717		709		676		716		689		1	%	4
Other banking fees		525		518		498		497		471		1		11
Commissions		799		910		914		970		600		(12	)	33
Fiduciary and asset management fees		1,291		1,355		1,439		1,436		1,029		(5	)	25
Advisory, underwriting and other investment banking fees		243		280		261		249		393		(13	)	(38	)
Trading account profits (losses)		(701	)	(510	)	(308	)	(524	)	(301	)	37		—
Principal investing		(310	)	136		446		41		372		—		—
Securities gains (losses)		(1,978	)	(808	)	(205	)	(320	)	(34	)	—		—
Other income		147		575		(944	)	(321	)	(286	)	(74	)	—
Total fee and other income	$	733		3,165		2,777		2,744		2,933		(77	)%	(75	)

Other Income

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Consumer loan-related sale/securitization activity	$	(90	)	20		13		(115	)	4		—	%	—
Commercial mortgage-related sale/securitization activity		(58	)	(90	)	(246	)	(365	)	(381	)	(36	)	(85	)
Other income		295		645		(711	)	159		91		(54	)	—
Total other income (loss)	$	147		575		(944	)	(321	)	(286	)	(74	)%	—

Market Disruption-Related Losses, Net

	2008
	Third Quarter
(Pre-tax dollars in millions)	Trading profits (losses)			Securities gains (losses)		Other Income (a)		Total
Corporate and Investment Bank
ABS CDO and other subprime-related	$	(47	)	(189	)	1		(235	)
Commercial mortgage (CMBS)		(263	)	(23	)	(61	)	(347	)
Consumer mortgage		(138	)	0		(8	)	(146	)
Leveraged finance		42		0		(20	)	22
Other		(207	)	(34	)	7		(234	)
Total		(613	)	(246	)	(81	)	(940	)
Capital Management
Impairment and trading losses		(87	)	(742	)	(22	)	(851	)
Auction Rate Securities (ARS) losses		(80	)	0		0		(80	)
Parent
Impairment losses/other		0		(619	)	0		(619	)
Total, net	$	(780	)	(1,607	)	(103	)	(2,490	)

Market Disruption-Related Losses, Net

	2008
	Second Quarter									First Quarter								1st Half
(Pre-tax dollars in millions)	Trading profits (losses)			Securities gains (losses)		Other Income (a)		Total		Trading profits (losses)		Securities gains (losses)		Other Income (a)		Total		Total
Corporate and Investment Bank
ABS CDO and other subprime-related	$	(106	)	(132	)	0		(238	)	(281	)	(67	)	9		(339	)	(577	)
Commercial mortgage (CMBS)		(116	)	(2	)	(91	)	(209	)	(283	)	0		(238	)	(521	)	(730	)
Consumer mortgage		(42	)	0		(26	)	(68	)	(187	)	0		(64	)	(251	)	(319	)
Leveraged finance		(336	)	0		438		102		483		0		(792	)	(309	)	(207	)
Other		(141	)	(11	)	0		(152	)	(131	)	(4	)	(9	)	(144	)	(296	)
Total		(741	)	(145	)	321		(565	)	(399	)	(71	)	(1,094	)	(1,564	)	(2,129	)
Capital Management
Impairment and trading losses		(89	)	(24	)	0		(113	)	0		0		0		0		(113	)
Auction Rate Securities (ARS) losses		(5	)	0		0		(5	)	0		0		0		0		(5	)
Parent
Impairment losses/other		0		(246	)	(7	)	(253	)	0		(409	)	(314	)	(723	)	(976	)
Total, net	$	(835	)	(415	)	314		(936	)	(399	)	(480	)	(1,408	)	(2,287	)	(3,223	)

(a) Other income includes primarily loan impairments and loans held for sale net write-downs.

Page - 3

Wachovia 3Q08 Quarterly Earnings Report

Market Disruption-Related Losses, Net

	2007
	Fourth Quarter									Third Quarter								2nd Half
(Pre-tax dollars in millions)	Trading profits (losses)	Securities gains (losses)		Other Income (a)		Provision		Total		Trading profits (losses)		Securities gains (losses)		Other Income (a)		Total		Total
Corporate and Investment Bank
ABS CDO and other subprime-related	$(517)	(263	)	(38	)	0		(818	)	(230	)	0		0		(230	)	(1,048	)
Commercial mortgage (CMBS)	(238)	0		(362	)	0		(600	)	(129	)	0		(359	)	(488	)	(1,088	)
Consumer mortgage	(64)	0		(59	)	0		(123	)	(41	)	0		(41	)	(82	)	(205	)
Leveraged finance	183	(3	)	(87	)	0		93		62		0		(334	)	(272	)	(179	)
Other	59	0		0		0		59		(109	)	0		0		(109	)	(50	)
Total	(577)	(266	)	(546	)	0		(1,389	)	(447	)	0		(734	)	(1,181	)	(2,570	)
Capital Management
Impairment and trading losses	0	(17	)	0		0		(17	)	0		(40	)	0		(40	)	(57	)
Parent
Impairment losses/other	0	(44	)	0		(50	)	(94	)	0		0		0		0		(94	)
Total, net	(577)	(327	)	(546	)	(50	)	(1,500	)	(447	)	(40	)	(734	)	(1,221	)	(2,721	)
Discontinued operations (BluePoint)	$(210)							(210	)	(120	)					(120	)	(330	)

(a) Other income includes primarily loan impairments and loans held for sale net write-downs.

No market disruption-related losses in 1Q07 or 2Q07.

Noninterest Expense

Noninterest Expense

	2008				2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter		Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Salaries and employee benefits	$	3,489	3,435	3,260	3,468	2,628	2	%	33
Occupancy		381	377	379	375	325	1		17
Equipment		325	317	323	334	283	3		15
Marketing		68	95	97	80	74	(28	)	(8	)
Communications and supplies		173	184	186	191	176	(6	)	(2	)
Professional and consulting fees		242	218	196	271	194	11		25
Sundry expense		1,288	1,750	656	769	717	(26	)	80
Other noninterest expense		5,966	6,376	5,097	5,488	4,397	(6	)	36
Merger-related and restructuring expenses		697	251	241	187	36	—		—
Goodwill impairment		18,786	6,060	—	—	—	—		—
Other intangible amortization		96	97	103	111	92	(1	)	4
Total noninterest expense	$	25,545	12,784	5,441	5,786	4,525	—	%	—

Auction Rate Securities Settlement Costs in Sundry Expense

	2008
(In millions)	Third Quarter		Second Quarter	First Quarter
Capital Management (a)	$	432	500	—
Corporate and Investment Bank		65	—	—
Total	$	497	500	—

(a) Includes Prudential Financial’s minority interest on a pre-tax basis of $99 million and $115 million in 3Q08 and 2Q08, respectively.

Page - 4

Wachovia 3Q08 Quarterly Earnings Report

Balance Sheet

Average Balance Sheet Data

	2008				2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter		Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Assets
Trading assets	$	36,715	43,575	44,655	37,694	38,737	(16	)%	(5	)
Securities		120,481	116,504	110,401	115,436	111,424	3		8
Commercial loans, net
General Bank		72,150	71,929	69,466	67,210	65,821	—		10
Corporate and Investment Bank		106,961	104,175	99,473	91,413	82,910	3		29
Other		29,795	30,100	29,639	29,541	25,941	(1	)	15
Total commercial loans, net		208,906	206,204	198,578	188,164	174,672	1		20
Consumer loans, net		269,579	270,530	267,358	261,641	255,129	—		6
Total loans, net		478,485	476,734	465,936	449,805	429,801	—		11
Loans held for sale		8,416	9,141	11,592	18,998	20,209	(8	)	(58	)
Other earning assets (a)		41,847	29,135	26,449	28,207	28,602	44		46
Total earning assets		685,944	675,089	659,033	650,140	628,773	2		9
Cash		12,250	11,472	11,645	12,028	11,134	7		10
Other assets		93,713	109,876	112,915	101,319	89,097	(15	)	5
Total assets	$	791,907	796,437	783,593	763,487	729,004	(1	)%	9
Liabilities and Stockholders’ Equity
Core interest-bearing deposits	$	334,769	332,688	338,181	332,148	320,729	1	%	4
Foreign and other time deposits		54,683	44,878	48,840	47,523	37,098	22		47
Total interest-bearing deposits		389,452	377,566	387,021	379,671	357,827	3		9
Short-term borrowings		58,198	64,005	58,538	60,755	65,346	(9	)	(11	)
Long-term debt		183,384	177,473	165,540	158,704	151,226	3		21
Total interest-bearing liabilities		631,034	619,044	611,099	599,130	574,399	2		10
Noninterest-bearing deposits		57,540	57,982	56,332	57,895	58,280	(1	)	(1	)
Other liabilities		33,138	37,671	37,415	32,476	26,468	(12	)	25
Total liabilities		721,712	714,697	704,846	689,501	659,147	1		9
Stockholders’ equity		70,195	81,740	78,747	73,986	69,857	(14	)	—
Total liabilities and stockholders’ equity	$	791,907	796,437	783,593	763,487	729,004	(1	)%	9
(a)    Includes interest-bearing bank balances, federal funds sold, securities purchased under resale agreements and margin loans.
Memoranda
Low-cost core deposits	$	263,714	277,091	270,858	262,982	256,535	(5	)%	3
Other core deposits		128,595	113,579	123,655	127,061	122,474	13		5
Total core deposits	$	392,309	390,670	394,513	390,043	379,009	—	%	4

Average Consumer Loans - Total Corporation

	2008				2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter		Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Mortgage	$	48,713	51,784	52,590	50,480	48,606	(6	)%	—
Pick-a-Payment mortgage		120,670	122,164	120,963	120,235	118,602	(1	)	2
Home equity loans		28,387	28,820	30,560	31,266	31,334	(2	)	(9	)
Home equity lines		30,967	28,986	27,279	25,912	24,814	7		25
Student		10,880	9,887	9,155	8,073	7,299	10		49
Auto and other vehicle		27,300	26,464	24,554	23,383	22,161	3		23
Revolving		1,976	1,793	1,714	1,670	1,647	10		20
Other consumer loans		686	632	543	622	666	9		3
Total consumer loans	$	269,579	270,530	267,358	261,641	255,129	—	%	6

Page - 5

Wachovia 3Q08 Quarterly Earnings Report

THE FOLLOWING TABLES PROVIDE ADDITIONAL PERIOD-END DETAIL ON OUR BALANCE SHEET.

Period-End Loans Held for Sale

	2008							2007
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Core business activity (a)
Core business activity, beginning of period	$	7,824		10,670		15,094		19,599		17,732
Originations/purchases		6,955		8,069		8,144		8,160		13,007
Transfers to loans held for sale		3,439		377		2,388		511		2,411
Transfers from loans held for sale		(51	)	(79	)	(6,926	)	(1,799	)	(249	)
Lower of cost or market value adjustments (b)		(41	)	(87	)	(364	)	(223	)	(255	)
Market value adjustments for fair value option loans		12		(47	)	42		—		—
Performing loans sold or securitized		(8,920	)	(10,957	)	(7,355	)	(10,913	)	(11,606	)
Other, principally payments		(437	)	(122	)	(353	)	(241	)	(1,441	)
Core business activity, end of period		8,781		7,824		10,670		15,094		19,599
Portfolio management activity (a)
Portfolio management activity, beginning of period		606		759		1,678		1,832		1
Originations/purchases		—		—		83		—		—
Transfers to loans held for sale (c)		—		56		54		339		1,831
Transfers from loans held for sale		(2	)	—		—		(191	)	—
Lower of cost or market value adjustments (b)		(40	)	26		(31	)	(30	)	—
Performing loans sold		(59	)	(212	)	(990	)	(157	)	—
Nonperforming loans sold		(25	)	—		—		—		—
Other, principally payments		(14	)	(23	)	(35	)	(115	)	—
Portfolio management activity, end of period		466		606		759		1,678		1,832
Total loans held for sale (d)	$	9,247		8,430		11,429		16,772		21,431

(a) Certain amounts presented in periods prior to the third quarter of 2008 have been reclassified to conform to the presentation in the third quarter of 2008.

(b) Lower of cost or market value adjustments exclude amounts related to unfunded commitments. Market disruption-related recoveries on unfunded commitments amounted to $438 million in the second quarter of 2008. Market disruption-related net write-downs on unfunded commitments amounted to $25 million, $729 million, $78 million and $311 million in the third and first quarters of 2008 and in the fourth and third quarters of 2007, respectively.

(c) Includes $1.8 billion in third quarter 2007 in connection with the consolidation of a structured lending vehicle; first quarter of 2008 and fourth quarter of 2007 include funding of the structured lending vehicle’s commitments amounting to $54 million and $159 million, respectively.

(d) Nonperforming assets included in loans held for sale at September 30, June 30 and March 31, 2008 and at December 31 and September 30, 2007, were $26 million, $63 million, $5 million, $62 million and $59 million, respectively.

Period-End Managed Portfolio

	2008				2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter		Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Commercial
On-balance sheet loan portfolio	$	230,274	228,221	221,413	208,351	199,387	1	%	15
Securitized loans - off-balance sheet		100	105	120	131	142	(5	)	(30	)
Loans held for sale		1,290	2,224	3,342	9,414	13,905	(42	)	(91	)
Total commercial		231,664	230,550	224,875	217,896	213,434	—		9
Consumer
On-balance sheet loan portfolio		261,610	269,726	266,958	261,503	257,860	(3	)	1
Securitized loans - off-balance sheet		9,751	10,688	11,585	12,304	13,053	(9	)	(25	)
Securitized loans included in securities		13,156	14,998	11,774	10,854	6,070	(12	)	—
Loans held for sale		7,957	6,206	8,087	7,358	7,526	28		6
Total consumer		292,474	301,618	298,404	292,019	284,509	(3	)	3
Total managed portfolio	$	524,138	532,168	523,279	509,915	497,943	(2	)%	5

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Wachovia 3Q08 Quarterly Earnings Report

Period-End Balance Sheet Data

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Commercial loans, net	$	218,918		216,620		211,700		198,566		189,545		1	%	15
Consumer loans, net		263,455		271,578		268,782		263,388		259,661		(3	)	1
Loans, net		482,373		488,198		480,482		461,954		449,206		(1	)	7
Goodwill and other intangible assets
Goodwill		18,353		36,993		43,068		43,122		38,848		(50	)	(53	)
Deposit base		492		531		573		619		670		(7	)	(27	)
Customer relationships		1,276		1,321		1,375		1,410		620		(3	)	—
Tradename		90		90		90		90		90		—		—
Total assets		764,378		812,433		808,575		782,896		754,168		(6	)	1
Core deposits		370,054		400,387		398,562		397,405		377,865		(8	)	(2	)
Total deposits		418,840		447,790		444,964		449,129		421,937		(6	)	(1	)
Long-term debt		183,350		184,401		175,653		161,007		158,584		(1	)	16
Stockholders’ equity	$	50,003		75,127		77,992		76,872		70,140		(33	)%	(29	)
Memoranda
Unrealized gains (losses) (Before income taxes)
Securities, net	$	(5,760	)	(4,012	)	(2,340	)	(1,290	)	(1,994	)
Risk management derivative financial instruments, net		684		682		1,831		635		(443	)
Unrealized losses, net (Before income taxes)	$	(5,076	)	(3,330	)	(509	)	(655	)	(2,437	)

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Wachovia 3Q08 Quarterly Earnings Report

Asset Quality

Asset Quality

	2008					2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Nonperforming assets
Nonaccrual loans	$	13,476		11,049	7,788	4,995	2,715	22	%	—
Restructured loans (a)		646		248	48	—	—	—		—
Foreclosed properties		860		631	530	389	334	36		—
Total nonperforming assets	$	14,982		11,928	8,366	5,384	3,049	26	%	—
as % of loans, net and foreclosed properties		3.10	%	2.44	1.74	1.16	0.68	—		—
Nonperforming assets in loans held for sale	$	26		63	5	62	59	(59	)%	(56	)
Total nonperforming assets in loans and in loans held for sale	$	15,008		11,991	8,371	5,446	3,108	25	%	—
as % of loans, net, foreclosed properties and loans held for sale		3.05	%	2.41	1.70	1.14	0.66	—		—
Provision for credit losses	$	6,629		5,567	2,831	1,497	408	19		—
Allowance for credit losses	$	15,605		10,956	6,767	4,717	3,691	42	%	—
Allowance for loan losses
as % of loans, net		3.18	%	2.20	1.37	0.98	0.78	—		—
as % of nonaccrual and restructured loans (b)		109		95	84	90	129	—		—
as % of nonperforming assets (b)		102		90	78	84	115	—		—
Allowance for credit losses
as % of loans, net		3.24	%	2.24	1.41	1.02	0.82	—		—
Net charge-offs	$	1,872		1,309	765	461	206	43	%	—
Commercial, as % of average commercial loans		1.05	%	0.88	0.48	0.34	0.08	—		—
Consumer, as % of average consumer loans		1.97		1.26	0.79	0.46	0.27	—		—
Total, as % of average loans, net		1.57	%	1.10	0.66	0.41	0.19	—		—
Past due accruing loans, 90 days and over	$	1,119		1,101	866	708	590	2	%	90
Commercial, as a % of loans, net		0.07	%	0.11	0.05	0.05	0.04	—		—
Consumer, as a % of loans, net		0.37	%	0.32	0.28	0.23	0.20	—		—

(a) Troubled debt restructurings were not significant prior to the first quarter of 2008.

(b) These ratios do not include nonperforming assets included in loans held for sale.

Page - 8

Wachovia 3Q08 Quarterly Earnings Report

Charge-Offs

Charge-offs

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Loan losses:
Commercial, financial and agricultural	$	(286	)	(254	)	(171	)	(67	)	(41	)	13	%	—
Commercial real estate - construction and mortgage		(279	)	(216	)	(81	)	(117	)	(5	)	29		—
Total commercial		(565	)	(470	)	(252	)	(184	)	(46	)	20		—
Real estate secured		(1,087	)	(700	)	(351	)	(156	)	(59	)	55		—
Student loans		(29	)	(3	)	(3	)	(4	)	(5	)	—		—
Installment and other loans (a)		(299	)	(230	)	(242	)	(225	)	(168	)	30		78
Total consumer		(1,415	)	(933	)	(596	)	(385	)	(232	)	52		—
Total loan losses		(1,980	)	(1,403	)	(848	)	(569	)	(278	)	41		—
Loan recoveries:
Commercial, financial and agricultural		16		15		14		22		9		7		78
Commercial real estate - construction and mortgage		2		—		1		—		3		—		—
Total commercial		18		15		15		22		12		20		50
Real estate secured		27		18		10		9		12		50		—
Student loans		1		1		1		2		3		—		—
Installment and other loans (a)		62		60		57		75		45		3		38
Total consumer		90		79		68		86		60		14		50
Total loan recoveries		108		94		83		108		72		15		50
Net charge-offs:
Commercial, financial and agricultural		(270	)	(239	)	(157	)	(45	)	(32	)	13		—
Commercial real estate - construction and mortgage		(277	)	(216	)	(80	)	(117	)	(2	)	28		—
Total commercial		(547	)	(455	)	(237	)	(162	)	(34	)	20		—
Real estate secured		(1,060	)	(682	)	(341	)	(147	)	(47	)	55		—
Student loans		(28	)	(2	)	(2	)	(2	)	(2	)	—		—
Installment and other loans (a)		(237	)	(170	)	(185	)	(150	)	(123	)	39		93
Total consumer		(1,325	)	(854	)	(528	)	(299	)	(172	)	55		—
Net charge-offs	$	(1,872	)	(1,309	)	(765	)	(461	)	(206	)	43	%	—
Net charge-offs as a % of average loans, net (b)
Commercial, financial and agricultural		0.66	%	0.60		0.41		0.12		0.10		—		—
Commercial real estate - construction and mortgage		2.41		1.89		0.73		1.12		0.02		—		—
Total commercial		1.05		0.88		0.48		0.34		0.08		—		—
Real estate secured		1.85		1.18		0.59		0.26		0.08		—		—
Student loans		1.03		0.07		0.08		0.10		0.14		—		—
Installment and other loans (a)		3.18		2.36		2.76		2.35		1.99		—		—
Total consumer		1.97		1.26		0.79		0.46		0.27		—		—
Total, as % of average loans, net		1.57	%	1.10		0.66		0.41		0.19		—		—
Consumer real estate secured net charge-offs:
First lien	$	(952	)	(592	)	(291	)	(122	)	(32	)	61	%	—
Second lien		(108	)	(90	)	(50	)	(25	)	(15	)	20		—
Total consumer real estate secured net charge-offs	$	(1,060	)	(682	)	(341	)	(147	)	(47	)	55	%	—

(a) Principally auto loans.

(b) Annualized.

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Wachovia 3Q08 Quarterly Earnings Report

Allowance for Credit Losses

Allowance for Credit Losses

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Allowance for credit losses (a)
Allowance for loan losses, beginning of period	$	10,744		6,567		4,507		3,505		3,390		64	%	—
Net charge-offs		(1,872	)	(1,309	)	(765	)	(461	)	(206	)	43		—
Allowance relating to loans acquired, transferred to loans held for sale or sold		(108	)	(69	)	(16	)	(10	)	(63	)	57		71
Provision for credit losses related to loans transferred to loans held for sale or sold (b)		17		51		7		6		3		(67	)	—
Provision for credit losses		6,570		5,504		2,834		1,467		381		19		—
Allowance for loan losses, end of period		15,351		10,744		6,567		4,507		3,505		43		—
Reserve for unfunded lending commitments, beginning of period		212		200		210		186		162		6		31
Provision for credit losses		42		12		(10	)	24		24		—		75
Reserve for unfunded lending commitments, end of period		254		212		200		210		186		20		37
Allowance for credit losses	$	15,605		10,956		6,767		4,717		3,691		42	%	—
Allowance for loan losses
as % of loans, net		3.18	%	2.20		1.37		0.98		0.78		—		—
as % of nonaccrual and restructured loans (c)		109		95		84		90		129		—		—
as % of nonperforming assets (c)		102		90		78		84		115		—		—
Allowance for credit losses
as % of loans, net		3.24	%	2.24		1.41		1.02		0.82		—		—

(a) The allowance for credit losses is the sum of the allowance for loan losses and the reserve for unfunded lending commitments.

(b) The provision related to loans transferred or sold includes recovery of lower of cost or market losses.

(c) These ratios do not include nonperforming assets included in loans held for sale.

Allowance for Credit Losses

	2008							2007
	Third Quarter				Second Quarter			Third Quarter
(In millions)	Amount		As a % of loans, net		Amount	As a % of loans, net		Amount		As a % of loans, net
Allowance for loan losses
Commercial	$	2,959	1.35	%	2,793	1.29	%	$	2,054	1.08	%
Consumer		11,622	4.41		7,621	2.81			1,246	0.48
Unallocated		770	—		330	—			205	—
Total		15,351	3.18		10,744	2.20			3,505	0.78
Reserve for unfunded lending commitments
Commercial		254	—		212	—			186	—
Allowance for credit losses	$	15,605	3.24	%	10,956	2.24	%	$	3,691	0.82	%
Memoranda
Total commercial (Including reserve for unfunded lending commitments)	$	3,213	1.47	%	3,005	1.39	%	$	2,240	1.18	%

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Wachovia 3Q08 Quarterly Earnings Report

Nonperforming Assets

Nonperforming Assets

	2008					2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Nonaccrual Loans
Commercial:
Commercial, financial and agricultural	$	1,298		1,229	908	602	354	6	%	—
Commercial real estate - construction and mortgage		2,836		2,203	1,750	1,059	289	29		—
Total commercial		4,134		3,432	2,658	1,661	643	20		—
Consumer:
Real estate secured:
First lien		9,197		7,430	5,015	3,234	1,986	24		—
Second lien		110		147	75	58	41	(25	)	—
Installment and other loans (a)		35		40	40	42	45	(13	)	(22	)
Total consumer		9,342		7,617	5,130	3,334	2,072	23		—
Total nonaccrual loans		13,476		11,049	7,788	4,995	2,715	22		—
Restructured loans		646		248	48	—	—	—		—
Foreclosed properties (b)		860		631	530	389	334	36		—
Total nonperforming assets	$	14,982		11,928	8,366	5,384	3,049	26		—
As % of loans, net, and foreclosed properties (c)		3.10	%	2.44	1.74	1.16	0.68	—		—
Nonperforming assets included in loans held for sale
Commercial	$	21		56	—	—	—	—		—
Consumer		5		7	5	62	50	(29	)	(90	)
Total nonaccrual loans		26		63	5	62	50	(59	)	(48	)
Foreclosed properties		—		—	—	—	9	—		—
Total nonperforming assets included in loans held for sale		26		63	5	62	59	(59	)	(56	)
Nonperforming assets included in loans and in loans held for sale	$	15,008		11,991	8,371	5,446	3,108	25		—
As % of loans, net, foreclosed properties and loans held for sale (d)		3.05	%	2.41	1.70	1.14	0.66	—		—
Past due loans, 90 days and over, and nonaccrual loans
Accruing loans past due 90 days and over	$	1,119		1,101	866	708	590	2		90
Nonaccrual loans		13,476		11,049	7,788	4,995	2,715	22		—
Total past due loans 90 days and over, and nonaccrual loans	$	14,595		12,150	8,654	5,703	3,305	20	%	—
Commercial, as a % of loans, net		1.96	%	1.69	1.31	0.89	0.38	—		—
Consumer, as a % of loans, net		3.91	%	3.12	2.19	1.49	1.00	—		—

(a) Principally auto loans; nonaccrual status does not apply to student loans.

(b) Troubled debt restructurings were not significant prior to the first quarter of 2008.

(c) These ratios do not include nonperforming assets included in loans held for sale.

(d) These ratios reflect nonperforming assets included in loans held for sale.

Page - 11

Wachovia 3Q08 Quarterly Earnings Report

Nonperforming Loans (a)

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Balance, beginning of period	$	11,049		7,788		4,995		2,715		1,945		56	%	—
Commercial nonaccrual loan activity
Commercial nonaccrual loans, beginning of period		3,432		2,658		1,661		643		479		29		—
New nonaccrual loans and advances		1,689		1,651		1,421		1,303		298		2		—
Charge-offs		(566	)	(470	)	(252	)	(184	)	(46	)	20		—
Transfers (to) from loans held for sale		—		(88	)	—		—		—		—		—
Transfers (to) from other real estate owned		(53	)	(7	)	(26	)	—		(5	)	—		—
Sales		(88	)	(68	)	(33	)	(26	)	(14	)	29		—
Other, principally payments		(280	)	(244	)	(113	)	(75	)	(69	)	15		—
Net commercial nonaccrual loan activity		702		774		997		1,018		164		(9	)	—
Commercial nonaccrual loans, end of period		4,134		3,432		2,658		1,661		643		20		—
Consumer nonaccrual loan activity
Consumer nonaccrual loans, beginning of period		7,617		5,130		3,334		2,072		1,466		48		—
Transfer (to) from loans held for sale		(4	)	—		100		—		—		—		—
Other, net		1,729		2,487		1,696		1,262		606		(30	)	—
Net consumer nonaccrual loan activity		1,725		2,487		1,796		1,262		606		(31	)	—
Consumer nonaccrual loans, end of period		9,342		7,617		5,130		3,334		2,072		23		—
Balance, end of period	$	13,476		11,049		7,788		4,995		2,715		22	%	—

(a) Excludes nonperforming assets included in loans held for sale at September 30, June 30 and March 31, 2008 and at December 31 and September 30, 2007, of $26 million, $63 million, $5 million, $62 million and $59 million, respectively.

Page - 12

Wachovia 3Q08 Quarterly Earnings Report

GENERAL BANK

This segment includes Retail and Small Business, and Commercial.

General Bank

Performance Summary

	2008					2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(Dollars in millions)	Third Quarter			Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	3,763		3,697	3,462	3,404	3,466	2	%	9
Fee and other income		1,003		1,000	980	929	935	—		7
Intersegment revenue		50		57	55	58	59	(12	)	(15	)
Total revenue (Tax-equivalent)		4,816		4,754	4,497	4,391	4,460	1		8
Provision for credit losses		1,340		922	572	320	207	45		—
Noninterest expense		2,127		2,061	2,048	2,037	1,898	3		12
Income taxes (Tax-equivalent)		492		647	685	743	860	(24	)	(43	)
Segment earnings	$	857		1,124	1,192	1,291	1,495	(24	)%	(43	)
Performance and other data
Economic profit	$	699		928	997	1,043	1,190	(25	)%	(41	)
Risk adjusted return on capital (RAROC)		25.40	%	33.26	42.55	48.00	54.30	—		—
Economic capital, average	$	19,302		16,777	12,705	11,188	10,904	15		77
Cash overhead efficiency ratio (Tax-equivalent)		44.16	%	43.35	45.55	46.40	42.54	—		—
Lending commitments	$	128,178		133,201	132,805	133,733	132,779	(4	)	(3	)
Average loans, net		318,573		317,969	312,084	303,903	295,188	—		8
Average core deposits	$	292,653		290,313	297,124	296,159	290,099	1		1
FTE employees		53,073		54,315	54,739	55,469	56,427	(2	)%	(6	)
General Bank Key Metrics
	2008					2007		3Q08 vs 2Q08		3Q08 vs 3Q07
	Third Quarter			Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Customer overall satisfaction score (a)		6.62		6.65	6.62	6.62	6.63	—	%	—
New/Lost ratio		1.24		1.23	1.27	1.33	1.34	1		(7	)
Online active customers (In thousands) (b)		5,252		5,086	4,849	4,677	4,491	3		17
Financial centers		3,314		3,308	3,323	3,355	3,381	—	%	(2	)

(a) Gallup survey measured on a 1-7 scale; 6.4 = “best in class”.

(b) Retail and small business.

RETAIL AND SMALL BUSINESS

This sub-segment includes Retail Banking, Small Business Banking, Wachovia Mortgage, Wachovia Home Equity, Wachovia Education Finance and other retail businesses.

Retail and Small Business

Performance Summary

	2008					2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	2,738		2,667	2,508	2,472	2,563	3	%	7
Fee and other income		865		866	850	813	822	—		5
Intersegment revenue		(2	)	11	12	15	15	—		—
Total revenue (Tax-equivalent)		3,601		3,544	3,370	3,300	3,400	2		6
Provision for credit losses		1,105		742	398	142	86	49		—
Noninterest expense		1,719		1,665	1,646	1,645	1,551	3		11
Income taxes (Tax-equivalent)		283		415	485	553	644	(32	)	(56	)
Segment earnings	$	494		722	841	960	1,119	(32	)%	(56	)
Performance and other data
Economic profit	$	473		694	779	804	935	(32	)%	(49	)
Risk adjusted return on capital (RAROC)		24.54	%	35.24	51.71	57.53	66.31	—		—
Economic capital, average	$	13,896		11,524	7,687	6,855	6,707	21		—
Cash overhead efficiency ratio (Tax-equivalent)		47.71	%	46.99	48.86	49.88	45.59	—		—
Average loans, net	$	229,539		229,744	227,255	221,819	215,042	—		7
Average core deposits	$	251,771		244,830	249,220	249,660	247,267	3	%	2

Page - 13

Wachovia 3Q08 Quarterly Earnings Report

GENERAL BANK-RETAIL AND SMALL BUSINESS LOAN PRODUCTION

Retail and Small Business

	2008				2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter		Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Loan production
Mortgage	$	5,005	11,768	12,787	12,419	13,983	(57	)%	(64	)
Home equity		1,887	3,954	4,257	6,122	7,315	(52	)	(74	)
Student		1,880	813	1,479	733	1,346	—		40
Installment		34	81	86	127	158	(58	)	(78	)
Other retail and small business		453	1,031	1,033	1,168	1,357	(56	)	(67	)
Total loan production	$	9,259	17,647	19,642	20,569	24,159	(48	)%	(62	)

WACHOVIA.COM

Wachovia.com

	2008				2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In thousands)	Third Quarter		Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Online product and service enrollments
Retail		15,162	14,481	13,844	13,272	12,664	5	%	20
Wholesale		937	899	857	821	781	4		20
Total online product and service enrollments		16,099	15,380	14,701	14,093	13,445	5		20
Enrollments per quarter		988	866	835	823	878	14		13
Dollar value of transactions (In billions)	$	88.4	84.3	79.6	67.3	62.4	5	%	42

COMMERCIAL

This sub-segment includes Business Banking, Middle-Market Commercial and Government Banking.

Commercial

Performance Summary

	2008					2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	1,025		1,030	954	932	903	—	%	14
Fee and other income		138		134	130	116	113	3		22
Intersegment revenue		52		46	43	43	44	13		18
Total revenue (Tax-equivalent)		1,215		1,210	1,127	1,091	1,060	—		15
Provision for credit losses		235		180	174	178	121	31		94
Noninterest expense		408		396	402	392	347	3		18
Income taxes (Tax-equivalent)		209		232	200	190	216	(10	)	(3	)
Segment earnings	$	363		402	351	331	376	(10	)%	(3	)
Performance and other data
Economic profit	$	226		234	218	239	255	(3	)%	(11	)
Risk adjusted return on capital (RAROC)		27.61	%	28.91	28.51	32.92	35.11	—		—
Economic capital, average	$	5,406		5,253	5,018	4,333	4,197	3		29
Cash overhead efficiency ratio (Tax-equivalent)		33.61	%	32.71	35.65	35.87	32.76	—		—
Average loans, net	$	89,034		88,225	84,829	82,084	80,146	1		11
Average core deposits	$	40,882		45,483	47,904	46,499	42,832	(10	)%	(5	)

Page - 14

Wachovia 3Q08 Quarterly Earnings Report

WEALTH MANAGEMENT

This segment includes Private Banking, Personal Trust, Investment Advisory Services, Charitable Services, Financial Planning and Insurance Brokerage (property and casualty, and high net worth life).

Wealth Management

Performance Summary

	2008					2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(Dollars in millions)	Third Quarter			Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	194		201	180	181	184	(3	)%	5
Fee and other income		192		208	210	215	184	(8	)	4
Intersegment revenue		2		3	5	3	4	(33	)	(50	)
Total revenue (Tax-equivalent)		388		412	395	399	372	(6	)	4
Provision for credit losses		8		5	2	7	6	60		33
Noninterest expense		246		252	246	249	240	(2	)	3
Income taxes (Tax-equivalent)		50		57	53	53	46	(12	)	9
Segment earnings	$	84		98	94	90	80	(14	)%	5
Performance and other data
Economic profit	$	64		74	69	72	61	(14	)%	5
Risk adjusted return on capital (RAROC)		46.00	%	52.48	50.93	58.24	50.69	—		—
Economic capital, average	$	729		720	690	609	609	1		20
Cash overhead efficiency ratio (Tax-equivalent)		63.55	%	61.24	62.21	62.55	64.71	—		—
Lending commitments	$	6,376		6,915	7,007	7,011	7,007	(8	)	(9	)
Average loans, net		22,765		22,557	21,794	21,181	20,996	1		8
Average core deposits	$	14,690		17,609	17,920	17,145	17,180	(17	)	(14	)
FTE employees		4,516		4,665	4,650	4,712	4,547	(3	)%	(1	)

Wealth Management Key Metrics

	2008				2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(Dollars in millions)	Third Quarter		Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Assets under management (a)	$	73,192	77,266	79,834	83,933	82,801	(5	)%	(12	)
Wealth Management producers		957	976	970	985	969	(2	)%	(1	)

(a) Includes $28.5 billion in assets managed by and reported in Capital Management.

Page - 15

Wachovia 3Q08 Quarterly Earnings Report

CORPORATE AND INVESTMENT BANK

This segment includes Corporate Lending, Investment Banking, and Treasury and International Trade Finance.

Corporate and Investment Bank

Performance Summary

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(Dollars in millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	1,043		1,132		1,036		988		838		(8	)%	24
Fee and other income		(416	)	656		(158	)	(554	)	176		—		—
Intersegment revenue		(57	)	(52	)	(50	)	(50	)	(52	)	10		10
Total revenue (Tax-equivalent)		570		1,736		828		384		962		(67	)	(41	)
Provision for credit losses		525		438		197		112		1		20		—
Noninterest expense		1,154		963		750		952		626		20		84
Income taxes (benefits) (Tax-equivalent)		(406	)	123		(44	)	(249	)	123		—		—
Segment earnings (loss)	$	(703	)	212		(75	)	(431	)	212		—	%	—
Performance and other data
Economic profit (loss)	$	(899	)	8		(410	)	(744	)	(113	)	—	%	—
Risk adjusted return on capital (RAROC)		(13.26	)%	11.22		(1.45	)	(15.21	)	6.40		—		—
Economic capital, average	$	14,732		13,821		13,237		11,262		9,791		7		50
Cash overhead efficiency ratio (Tax-equivalent)		202.09	%	55.50		90.58		247.26		65.12		—		—
Lending commitments	$	99,489		113,559		114,114		118,734		119,791		(12	)	(17	)
Average loans, net		109,323		106,680		101,081		91,695		82,979		2		32
Average core deposits	$	27,497		31,686		33,651		36,235		37,208		(13	)	(26	)
FTE employees		5,718		6,361		6,302		6,555		6,695		(10	)%	(15	)

Market Disruption-Related Losses, Net

	2008
	Third Quarter
(Pre-tax dollars in millions)	Trading Profits (losses)			Securities gains (losses)		Other Income		Total
Corporate and Investment Bank
ABS CDO and other subprime-related	$	(47	)	(189	)	1		(235	)
Commercial mortgage (CMBS)		(263	)	(23	)	(61	)	(347	)
Consumer mortgage		(138	)	0		(8	)	(146	)
Leveraged finance		42		0		(20	)	22
Other		(207	)	(34	)	7		(234	)
Total	$	(613	)	(246	)	(81	)	(940	)

Market Disruption-Related Losses, Net

	2008
	Second Quarter									First Quarter
(Pre-tax dollars in millions)	Trading profits (losses)			Securities gains (losses)		Other Income		Total		Trading profits (losses)		Securities gains (losses)		Other Income		Total
Corporate and Investment Bank
ABS CDO and other subprime-related	$	(106	)	(132	)	0		(238	)	(281	)	(67	)	9		(339	)
Commercial mortgage (CMBS)		(116	)	(2	)	(91	)	(209	)	(283	)	0		(238	)	(521	)
Consumer mortgage		(42	)	0		(26	)	(68	)	(187	)	0		(64	)	(251	)
Leveraged finance		(336	)	0		438		102		483		0		(792	)	(309	)
Other		(141	)	(11	)	0		(152	)	(131	)	(4	)	(9	)	(144	)
Total	$	(741	)	(145	)	321		(565	)	(399	)	(71	)	(1,094	)	(1,564	)

Market Disruption-Related Losses, Net

	2007
	Fourth Quarter									Third Quarter
(Pre-tax dollars in millions)	Trading profits (losses)			Securities gains (losses)		Other Income		Total		Trading profits (losses)		Securities gains (losses)	Other Income		Total
Corporate and Investment Bank
ABS CDO and other subprime-related	$	(517	)	(263	)	(38	)	(818	)	(230	)	0	0		(230	)
Commercial mortgage (CMBS)		(238	)	0		(362	)	(600	)	(129	)	0	(359	)	(488	)
Consumer mortgage		(64	)	0		(59	)	(123	)	(41	)	0	(41	)	(82	)
Leveraged finance		183		(3	)	(87	)	93		62		0	(334	)	(272	)
Other		59		0		0		59		(109	)	0	0		(109	)
Total	$	(577	)	(266	)	(546	)	(1,389	)	(447	)	0	(734	)	(1,181	)

No market disruption-related losses in 1Q07 or 2Q07

Page - 16

Wachovia 3Q08 Quarterly Earnings Report

CORPORATE LENDING

This sub-segment includes Large Corporate Lending, Leasing and Real Estate Financial Services.

Corporate Lending

Performance Summary

	2008						2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter	Fourth Quarter	Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	415		414		434	417	413	—	%	—
Fee and other income		312		70		155	149	136	—		—
Intersegment revenue		10		10		13	18	16	—		(38	)
Total revenue (Tax-equivalent)		737		494		602	584	565	49		30
Provision for credit losses		387		350		132	103	2	11		—
Noninterest expense		141		128		141	137	139	10		1
Income taxes (Tax-equivalent)		75		7		120	126	154	—		(51	)
Segment earnings	$	134		9		209	218	270	—	%	(50	)
Performance and other data
Economic profit	$	109		(18	)	47	65	82	—	%	33
Risk adjusted return on capital (RAROC)		17.02	%	9.95		13.83	15.34	17.10	—		—
Economic capital, average	$	7,175		6,763		6,653	5,943	5,289	6		36
Cash overhead efficiency ratio (Tax-equivalent)		19.07	%	25.99		23.47	23.45	24.56	—		—
Average loans, net	$	65,659		65,459		64,038	62,339	58,528	—		12
Average core deposits	$	3,891		4,455		4,576	4,632	5,120	(13	)%	(24	)

Corporate Lending

Loans Outstanding

	2008				2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter		Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Large corporate loans	$	17,162	17,382	16,892	15,832	14,229	(1	)%	21
Real estate financial services		37,898	37,572	37,026	36,184	34,356	1		10
Capital finance		10,599	10,505	10,120	10,323	9,943	1		7
Total loans outstanding	$	65,659	65,459	64,038	62,339	58,528	—	%	12

Page - 17

Wachovia 3Q08 Quarterly Earnings Report

INVESTMENT BANKING

This sub-segment includes Equity Capital Markets, M&A, Fixed Income Division, Loan Syndications and Principal Investing.

Investment Banking

Performance Summary

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	505		591		485		461		321		(15	)%	57
Fee and other income		(963	)	362		(530	)	(920	)	(178	)	—		—
Intersegment revenue		(7	)	(10	)	(16	)	(21	)	(22	)	(30	)	(68	)
Total revenue (Tax-equivalent)		(465	)	943		(61	)	(480	)	121		—		—
Provision for credit losses		137		88		67		9		—		56		—
Noninterest expense		841		663		431		642		317		27		—
Income taxes (benefits) (Tax-equivalent)		(527	)	70		(205	)	(414	)	(70	)	—		—
Segment earnings (loss)	$	(916	)	122		(354	)	(717	)	(126	)	—	%	—
Performance and other data
Economic profit	$	(1,077	)	(43	)	(514	)	(865	)	(253	)	—	%	—
Risk adjusted return on capital (RAROC)		(48.27	)%	8.36		(22.20	)	(57.87	)	(12.95	)	—		—
Economic capital, average	$	7,217		6,695		6,223		4,985		4,184		8		72
Cash overhead efficiency ratio (Tax-equivalent)		(180.56	)%	70.33		(706.35	)	(133.99	)	265.05		—		—
Average loans, net	$	28,963		27,615		23,582		17,047		13,640		5		—
Average core deposits	$	9,561		9,120		9,456		10,759		10,848		5	%	(12	)

Investment Banking

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Total revenue
Fixed income global rate products	$	138		264		132		89		135		(48	)%	2
Fixed income credit products (Excluding loan portfolio)		91		289		248		169		202		(69	)	(55	)
Fixed income structured products/other		457		634		520		440		471		(28	)	(3	)
Market disruption losses		(940	)	(565	)	(1,564	)	(1,389	)	(1,181	)	(66	)	—
Total fixed income		(254	)	622		(664	)	(691	)	(373	)	—		(32	)
Principal investing		(317	)	115		414		23		361		—		—
Total equities/M&A/other		106		206		189		188		133		(49	)	(20	)
Total revenue		(465	)	943		(61	)	(480	)	121		—		—
Trading-related revenue
Net interest income (Tax-equivalent)		64		122		78		51		34		(48	)	88
Trading account profits (losses)		(633	)	(365	)	(245	)	(562	)	(381	)	73		66
Other fee income		123		187		187		181		140		(34	)	(12	)
Total net trading-related revenue (Tax-equivalent)		(446	)	(56	)	20		(330	)	(207	)	—		—
Principal investing balances
Direct investments		1,395		1,612		1,636		1,554		1,534		(13	)	(9	)
Fund investments		842		1,081		1,052		789		776		(22	)	9
Total principal investing balances	$	2,237		2,693		2,688		2,343		2,310		(17	)%	(3	)

Investment Banking

	2008						2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter	First Quarter		Fourth Quarter		Third Quarter
Total revenue
Investment banking (a)	$	270		464	400		401		423		(42	)%	(36	)
Capital markets (b)		(418	)	364	(875	)	(904	)	(663	)	—		(37	)
Principal investing		(317	)	115	414		23		361		—		—
Total revenue	$	(465	)	943	(61	)	(480	)	121		—	%	—

(a) Activities relating to corporate customers.

(b) Activities relating to institutional clients.

Page - 18

Wachovia 3Q08 Quarterly Earnings Report

TREASURY AND INTERNATIONAL TRADE FINANCE

This sub-segment includes Treasury Services, International Correspondent Banking and Trade Finance.

Treasury and International Trade Finance

Performance Summary

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	123		127		117		110		104		(3	)%	18
Fee and other income		235		224		217		217		218		5		8
Intersegment revenue		(60	)	(52	)	(47	)	(47	)	(46	)	15		30
Total revenue (Tax-equivalent)		298		299		287		280		276		—		8
Provision for credit losses		1		—		(2	)	—		(1	)	—		—
Noninterest expense		172		172		178		173		170		—		1
Income taxes (Tax-equivalent)		46		46		41		39		39		—		18
Segment earnings	$	79		81		70		68		68		(2	)%	16
Performance and other data
Economic profit	$	69		69		57		56		58		—	%	19
Risk adjusted return on capital (RAROC)		90.88	%	87.60		74.59		78.25		82.99		—		—
Economic capital, average	$	340		363		361		334		318		(6	)	7
Cash overhead efficiency ratio (Tax-equivalent)		57.83	%	57.44		62.20		62.02		61.24		—		—
Average loans, net	$	14,701		13,606		13,461		12,309		10,811		8		36
Average core deposits	$	14,045		18,111		19,619		20,844		21,240		(22	)%	(34	)

Page - 19

Wachovia 3Q08 Quarterly Earnings Report

CAPITAL MANAGEMENT

This segment includes Asset Management and Retail Brokerage Services.

Capital Management

Performance Summary

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(Dollars in millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	388		308		281		320		268		26	%	45
Fee and other income		968		1,995		2,192		2,210		1,444		(51	)	(33	)
Intersegment revenue		4		(8	)	(10	)	(11	)	(8	)	—		—
Total revenue (Tax-equivalent)		1,360		2,295		2,463		2,519		1,704		(41	)	(20	)
Provision for credit losses		1		—		—		—		—		—		—
Noninterest expense		2,145		2,328		1,855		1,937		1,241		(8	)	73
Income taxes (benefits) (Tax-equivalent)		(287	)	(12	)	222		213		169		—		—
Segment earnings (loss)	$	(499	)	(21	)	386		369		294		—	%	—
Performance and other data
Economic profit	$	(555	)	(79	)	327		310		258		—	%	—
Risk adjusted return on capital (RAROC)		(97.63	)%	(3.95	)	72.25		69.09		88.96		—		—
Economic capital, average	$	2,033		2,118		2,145		2,120		1,310		(4	)	55
Cash overhead efficiency ratio (Tax-equivalent)		157.72	%	101.39		75.34		76.91		72.82		—		—
Lending commitments	$	1,657		1,544		1,348		1,281		1,164		7		42
Average loans, net		3,223		2,878		2,562		2,295		2,142		12		50
Average core deposits	$	54,734		48,647		43,084		38,019		31,489		13		74
FTE employees		29,301		29,658		29,824		29,880		17,908		(1	)%	64

Capital Management Key Metrics

	2008				2007		3Q08 vs 2Q08		3Q08 vs 3Q07
(Dollars in billions)	Third Quarter		Second Quarter	First Quarter	Fourth Quarter	Third Quarter
Equity assets	$	61.7	72.7	74.1	83.7	84.7	(15	)%	(27	)
Fixed income assets		92.8	108.6	117.8	122.9	137.6	(15	)	(33	)
Money market assets		54.6	64.6	66.8	68.1	63.1	(15	)	(13	)
Total assets under management (a)		209.1	245.9	258.7	274.7	285.4	(15	)	(27	)
Gross fluctuating mutual fund sales	$	1.3	1.7	2.6	2.5	2.0	(24	)	(35	)
Full-service financial advisors series 7		14,635	14,632	14,583	14,607	8,391	—		74
Financial center advisors series 6		4,447	4,308	4,059	3,296	2,996	3		48
Broker client assets	$	1,004.4	1,107.1	1,118.5	1,170.4	807.2	(9	)	24
Customer receivables including margin loans	$	6.4	6.6	6.3	6.4	4.7	(3	)	36
Traditional brokerage offices		1,506	1,512	1,527	1,539	786	—		92
Banking centers with brokerage services		2,736	2,664	2,569	2,203	2,038	3	%	34

(a) Includes $28.5 billion in assets managed for Wealth Management, which are also reported in that segment.

Page - 20

Wachovia 3Q08 Quarterly Earnings Report

RETAIL BROKERAGE SERVICES

This sub-segment consists of the retail brokerage, and annuity and reinsurance businesses.

Retail Brokerage Services

Performance Summary

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	370		296		267		313		262		25	%	41
Fee and other income		1,542		1,832		1,899		1,933		1,202		(16	)	28
Intersegment revenue		4		(7	)	(9	)	(11	)	(7	)	—		—
Total revenue (Tax-equivalent)		1,916		2,121		2,157		2,235		1,457		(10	)	32
Provision for credit losses		1		—		—		—		—
Noninterest expense		1,924		2,122		1,634		1,724		1,038		(9	)	85
Income taxes (Tax-equivalent)		(4	)	1		191		186		154		—		—
Segment earnings (loss)	$	(5	)	(2	)	332		325		265		—	%	—
Performance and other data
Economic profit	$	(55	)	(54	)	279		272		235		2	%	—
Risk adjusted return on capital (RAROC)		(0.91	)%	(0.33	)	69.04		67.36		94.13		—		—
Economic capital, average	$	1,814		1,901		1,929		1,915		1,116		(5	)	63
Cash overhead efficiency ratio (Tax-equivalent)		100.31	%	100.08		75.79		77.09		71.33		—		—
Average loans, net	$	3,194		2,861		2,521		2,273		2,106		12		52
Average core deposits	$	54,425		48,343		42,631		37,614		31,071		13	%	75

Retail Brokerage Transaction

The Retail Brokerage Services sub-segment results shown in the above table include 100% of the results of the Wachovia Securities retail brokerage business which is the combination of Wachovia and Prudential Financial’s retail brokerage operations. The combined entity is owned by Wachovia Securities Financial Holdings, LLC (“WSFH”), which is a consolidated subsidiary of Wachovia Corporation for GAAP purposes.

As a result of Wachovia’s contribution to WSFH of the retail securities business of A.G. Edwards on January 1, 2008, Prudential Financial’s percentage interest in WSFH was diluted as of that date based on the value of the contributed business relative to the value of WSFH. Although the adjustment in Prudential Financial’s interest was effective as of the January 1, 2008, contribution date, the valuations necessary to calculate the precise reduction in that percentage interest are not yet complete. Based on currently available information, Wachovia estimates that Prudential Financial’s percentage interest will be diluted from its pre-contribution interest of 38% to approximately 23% as a result of the A.G. Edwards contribution.

Prudential Financial’s minority interest is included in minority interest expense reported in the Parent (see page 23) and in Wachovia Corporation’s consolidated statements of income on a GAAP basis, which differs from our segment reporting as noted on page 1. For the three months ended September 30, 2008, Prudential Financial’s pre-tax minority interest on a GAAP basis was ($83) million. This amount may be adjusted higher or lower in a subsequent quarter if the final valuations differ from Wachovia’s current estimate.

The Retail Brokerage Services sub-segment results reported in the above table also include our Insurance Services business, as well as additional corporate allocations not included in the Wachovia Securities Financial Holdings results.

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Wachovia 3Q08 Quarterly Earnings Report

ASSET MANAGEMENT

This sub-segment consists of the mutual fund business and customized investment advisory services, including retirement services.

Asset Management

Performance Summary

	2008							2007			3Q08 vs 2Q08		3Q08 vs 3Q07
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter	Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	17		12		14		7	6		42	%	—
Fee and other income		(572	)	165		295		279	244		—		—
Intersegment revenue		—		(1	)	(1	)	—	(1	)	—		—
Total revenue (Tax-equivalent)		(555	)	176		308		286	249		—		—
Provision for credit losses		—		—		—		—	—		—		—
Noninterest expense		224		209		224		217	206		7		9
Income taxes (benefits) (Tax-equivalent)		(284	)	(13	)	31		26	15		—		—
Segment earnings (loss)	$	(495	)	(20	)	53		43	28		—	%	—
Performance and other data
Economic profit	$	(501	)	(26	)	47		37	22		—	%	—
Risk adjusted return on capital (RAROC)		(898.80	) %	(37.28	)	99.16		82.68	56.73		—		—
Economic capital, average	$	219		217		216		205	194		1		13
Cash overhead efficiency ratio (Tax-equivalent)		(40.26	) %	117.86		72.81		76.33	82.50		—		—
Average loans, net	$	29		17		41		22	36		71		(19	)
Average core deposits	$	309		304		453		405	418		2	%	(26	)

Capital Management Eliminations

In addition to the above sub-segments, Capital Management results include eliminations between business units. Certain brokerage commissions earned on mutual fund sales by our brokerage sales force are eliminated and deferred in the consolidation of Capital Management reported results. In 3Q08, brokerage revenue and expense eliminations were a reduction of $1 million and $3 million, respectively.

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Wachovia 3Q08 Quarterly Earnings Report

PARENT

This sub-segment includes the central money book, investment portfolio, some consumer real estate and mortgage assets, minority interest in consolidated subsidiaries, the cross-border leveraged lease portfolio, businesses being wound down or divested, goodwill impairment charge, other intangible amortization and eliminations.

Parent

Performance Summary

	2008							2007				3Q08 vs 2Q08		3Q08 vs 3Q07
(Dollars in millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Income statement data
Net interest income (Tax-equivalent)	$	(349	)	(994	)	(154	)	(219	)	(172	)	(65	)%	—
Fee and other income		(1,014	)	(694	)	(447	)	(56	)	194		46		—
Intersegment revenue		1		—		—		—		(3	)	—		—
Total revenue (Tax-equivalent)		(1,362	)	(1,688	)	(601	)	(275	)	19		(19	)	—
Provision for credit losses		4,755		4,202		2,060		1,058		194		13		—
Noninterest expense		390		869		301		424		484		(55	)	(19	)
Minority interest		(71	)	26		198		118		189		—		—
Income taxes (benefits) (Tax-equivalent)		(2,128	)	(2,642	)	(1,022	)	(857	)	(495	)	(19	)	—
Dividends on preferred shares		191		193		43		—		—		(1	)	—
Segment earnings (loss)	$	(4,499	)	(4,336	)	(2,181	)	(1,018	)	(353	)	4	%	—
Performance and other data
Economic profit (loss)	$	(1,414	)	(1,635	)	(846	)	(480	)	(319	)	(14	)%	—
Risk adjusted return on capital (RAROC)		(1,259.81	)%	(432.84	)	(169.71	)	(83.56	)	(41.54	)	—		—
Economic capital, average	$	443		1,482		1,881		2,020		2,403		(70	)	(82	)
Cash overhead efficiency ratio (Tax-equivalent)		(21.45	)%	(45.78	)	(32.99	)	(114.15	)	1,976.53		—		—
Lending commitments	$	483		543		538		599		529		(11	)	(9	)
Average loans, net		24,601		26,650		28,415		30,731		28,496		(8	)	(14	)
Average core deposits	$	2,735		2,415		2,734		2,485		3,033		13		(10	)
FTE employees		24,619		24,953		24,863		25,274		24,147		(1	)%	2

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Wachovia 3Q08 Quarterly Earnings Report

MERGER-RELATED AND RESTRUCTURING EXPENSES

A.G. Edwards Transaction One-time Costs (In millions)	Net Merger- Related and Restructuring Expenses		Exit Cost Purchase Accounting Adjustments (b)	Total
Total estimated costs and expenses (a)	$	1,204	196	1,400
Actual expenses
Third quarter 2008	$	166	58	224
Second quarter 2008		205	20	225
First quarter 2008		206	35	241
Total 2007		124	43	167
Total actual expenses	$	701	156	857

(a) Represents the original estimate at the time of the deal announcement.

(b) These adjustments represent incremental costs related to combining the two companies and are specifically attributable to A.G. Edwards’ business.

Examples include employee termination costs, employee relocation costs, contract cancellations including leases and closing redundant A.G. Edwards acquired facilities.

These adjustments are reflected in goodwill and are not charges against income.

Golden West Transaction One-time Costs (In millions)	Net Merger- Related and Restructuring Expenses		Exit Cost Purchase Accounting Adjustments (b)		Total
Total estimated costs and expenses (a)	$	288	192		480
Actual expenses
Third quarter 2008	$	16	(2	)	14
Second quarter 2008		44	(8	)	36
First quarter 2008		35	—		35
Total 2007		118	173		291
Total 2006		40	41		81
Total actual expenses	$	253	204		457

(a) Represents the original estimate at the time of the deal announcement.

(b) These adjustments represent incremental costs related to combining the two companies and are specifically attributable to Golden West’s business.

Examples include employee termination costs, employee relocation costs, contract cancellations including leases and closing redundant Golden West acquired facilities.

These adjustments are reflected in goodwill and are not charges against income.

Merger-Related and Restructuring Expenses (Income Statement Impact)

	2008							2007
(In millions)	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Total Golden West merger-related and restructuring expenses	$	16		44		35		64		32
Total A.G. Edwards merger-related and restructuring expenses		166		205		206		121		3
Total Project Right Size (a)		515		—		—		—		—
Other merger-related and restructuring expenses		—		2		—		2		1
Net merger-related and restructuring expenses		697		251		241		187		36
Minority interest share in merger-related and restructuring expenses		(35	)	(43	)	(43	)	(11	)	—
Income taxes (benefits)		(248	)	(80	)	(75	)	(67	)	(15	)
After-tax net merger-related and restructuring expenses	$	414		128		123		109		21

(a) 2Q08 announced expense reduction initiative.

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Wachovia 3Q08 Quarterly Earnings Report

Goodwill and Other Intangibles Recorded in the A.G. Edwards Transaction (In millions)	2008							2007
	Third Quarter			Second Quarter		First Quarter		Fourth Quarter
Purchase price less former A.G. Edwards ending tangible stockholders’ equity at October 1, 2007	$	4,597		4,598		4,598		4,600
Fair value purchase accounting adjustments (a)
Investments		1		1		(1	)	(1	)
Restricted stock awards		(14	)	(14	)	(14	)	—
Occupancy and equipment		21		—		—		—
CRE		(29	)	(31	)	(31	)	—
Other assets		10		10		10		8
Deposits, short-term borrowings, long-term debt and other liabilities		(21	)	(22	)	(23	)	(27	)
Income taxes		128		40		41		11
Total fair value purchase accounting adjustments		96		(16	)	(18	)	(9	)
Exit cost purchase accounting adjustments (b)
Personnel and employee termination benefits		55		59		48		22
Other liabilities		16		13		8		2
CRE		58		—		—		—
Contract cancellations		4		4		3		—
Occupancy and equipment		4		3		—		—
Other		19		19		19		19
Total pre-tax exit costs		156		98		78		43
Income taxes		(53	)	(31	)	(24	)	(10	)
Total after-tax exit cost purchase accounting adjustments (One-time costs)		103		67		54		33
Total purchase intangibles		4,796		4,649		4,634		4,624
Customer and other intangibles (Net of income taxes)		513		513		513		513
Goodwill, end of period	$	4,283		4,136		4,121		4,111

(a) These amounts represent fair value adjustments to adjust assets and liabilities of the former A.G. Edwards to their fair values as of October 1, 2007.

(b) These adjustments represent incremental costs relating to combining the two companies and are specifically attributable to those businesses of the former A.G. Edwards.

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Wachovia 3Q08 Quarterly Earnings Report

EXPLANATION OF OUR USE OF CERTAIN NON-GAAP FINANCIAL MEASURES

In addition to results presented in accordance with GAAP, this quarterly earnings report includes certain non-GAAP financial measures, including those presented on pages 1 and 2 under the captions “Earnings Reconciliation”, and “Other Financial Measures”, with the sub-headings – “Earnings excluding goodwill impairment, merger-related and restructuring expenses, and discontinued operations” and — “Earnings excluding goodwill impairment, merger-related and restructuring expenses, other intangible amortization and discontinued operations”, and which are reconciled to GAAP financial measures on pages 27-30. In addition, in this quarterly earnings report certain designated net interest income amounts are presented on a tax-equivalent basis, including the calculation of the overhead efficiency ratio.

Wachovia believes these non-GAAP financial measures provide information useful to investors in understanding the underlying operational performance of the company, its business and performance trends and facilitates comparisons with the performance of others in the financial services industry. Specifically, Wachovia believes the exclusion of goodwill impairment charges, merger-related and restructuring expenses and discontinued operations permits evaluation and a comparison of results for on-going business operations, and it is on this basis that Wachovia’s management internally assesses the company’s performance. Those non-operating items are excluded from Wachovia’s segment measures used internally to evaluate segment performance in accordance with GAAP because management does not consider them particularly relevant or useful in evaluating the operating performance of our business segments. In addition, because of the significant amount of deposit base intangible amortization, Wachovia believes the exclusion of this expense provides investors with consistent and meaningful comparisons to other financial services firms. Wachovia also believes the presentation of net interest income on a tax-equivalent basis ensures comparability of net interest income arising from both taxable and tax-exempt sources and is consistent with industry standards. Wachovia operates one of the largest retail brokerage businesses in our industry, and we have presented an overhead efficiency ratio excluding these brokerage services, which management believes is useful to investors in comparing the performance of our banking business with other banking companies.

Although Wachovia believes the above non-GAAP financial measures enhance investors’ understanding of our business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP basis financial measures.

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Wachovia 3Q08 Quarterly Earnings Report

RECONCILIATION OF CERTAIN NON-GAAP FINANCIAL MEASURES

Reconciliation of Certain Non-GAAP Financial Measures

		2008							2007
(In millions)	*	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Income (loss) from continuing operations
Net income (loss) (GAAP)	A	$	(23,698	)	(8,915	)	(664	)	51		1,618
Discontinued operations, net of income taxes (GAAP)			—		—		—		142		88
Income (loss) from continuing operations (GAAP)			(23,698	)	(8,915	)	(664	)	193		1,706
Merger-related and restructuring expenses (GAAP)			414		128		123		108		22
Goodwill impairment (GAAP)			18,715		6,056		—		—		—
Income (loss) excluding merger-related and restructuring expenses, goodwill impairment and discontinued operations	B		(4,569	)	(2,731	)	(541	)	301		1,728
Other intangible amortization (GAAP)			62		66		64		64		60
Income (loss) excluding merger-related and restructuring expenses, goodwill impairment, other intangible amortization and discontinued operations	C	$	(4,507	)	(2,665	)	(477	)	365		1,788
Income (loss) available to Common Stockholders
Net income (loss) available to common shareholders (GAAP)	D	$	(23,889	)	(9,108	)	(707	)	51		1,618
Discontinued operations, net of income taxes (GAAP)			—		—		—		142		88
Income (loss) from continuing operations available to common stockholders			(23,889	)	(9,108	)	(707	)	193		1,706
Merger-related and restructuring expenses (GAAP)			414		128		123		108		22
Goodwill impairment (GAAP)			18,715		6,056		—		—		—
Income (loss) excluding merger-related and restructuring expenses, goodwill impairment and discontinued operations	E		(4,760	)	(2,924	)	(584	)	301		1,728
Other intangible amortization (GAAP)			62		66		64		64		60
Income (loss) available to common stockholders excluding merger-related and restructuring expenses, goodwill impairment, other intangible amortization and discontinued operations	F	$	(4,698	)	(2,858	)	(520	)	365		1,788
Return on average common stockholders’ equity
Average common stockholders’ equity (GAAP)	G	$	60,370		72,579		74,697		73,599		69,857
Merger-related and restructuring expenses and other (GAAP)			405		191		110		242		124
Goodwill impairment (GAAP)			9,106		998		—		—		—
Discontinued operations (GAAP)			—		—		—		(142	)	(88	)
Average common stockholders’ equity, excluding merger-related and restructuring expenses, goodwill impairment and discontinued operations	H		69,881		73,768		74,807		73,699		69,893
Average intangible assets (GAAP)	I		(38,694	)	(44,998	)	(45,211	)	(44,941	)	(40,198	)
Average tangible common stockholders’ equity, excluding merger-related and restructuring expenses, goodwill impairment and discontinued operations	J	$	31,187		28,770		29,596		28,758		29,695
Return on average common stockholders’ equity
GAAP	D/G		(157.43	)%	(50.47	)	(3.81	)	0.28		9.19
Excluding merger-related and restructuring expenses, goodwill impairment and discontinued operations	E/H		(27.11	)	(15.94	)	(3.14	)	1.62		9.81
Return on average tangible common stockholders’ equity
GAAP	D/G+I		(438.45	)	(132.82	)	(9.64	)	0.71		21.64
Excluding merger-related and restructuring expenses, goodwill impairment, other intangible amortization and discontinued operations	F/J		(59.94	)%	(39.94	)	(7.07	)	5.05		23.88

Table continued on next page.

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Wachovia 3Q08 Quarterly Earnings Report

RECONCILIATION OF CERTAIN NON-GAAP FINANCIAL MEASURES

Reconciliation of Certain Non-GAAP Financial Measures

		2008							2007
(In millions)	*	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Return on average assets
Average assets (GAAP)	K	$	791,907		796,437		783,593		763,487		729,004
Average intangible assets (GAAP)			(38,694	)	(44,998	)	(45,211	)	(44,941	)	(40,198	)
Average tangible assets (GAAP)	L	$	753,213		751,439		738,382		718,546		688,806
Average assets (GAAP)		$	791,907		796,437		783,593		763,487		729,004
Merger-related and restructuring expenses (GAAP)			405		191		110		242		124
Goodwill impairment (GAAP)			9,106		998		—		—		—
Discontinued operations (GAAP)			—		—		—		(142	)	(88	)
Average assets, excluding merger-related and restructuring expenses, goodwill impairment and discontinued operations	M		801,418		797,626		783,703		763,587		729,040
Average intangible assets (GAAP)			(38,694	)	(44,998	)	(45,211	)	(44,941	)	(40,198	)
Average tangible assets, excluding merger-related and restructuring expenses, goodwill impairment and discontinued operations	N	$	762,724		752,628		738,492		718,646		688,842
Return on average assets
GAAP	A/K		(11.91	)%	(4.50	)	(0.34	)	0.03		0.88
Excluding merger-related and restructuring expenses, goodwill impairment and discontinued operations	B/M		(2.27	)	(1.38	)	(0.28	)	0.16		0.94
Return on average tangible assets
GAAP	A/L		(12.52	)	(4.77	)	(0.36	)	0.03		0.93
Excluding merger-related and restructuring expenses, goodwill impairment, other intangible amoritization and discontinued operations	C/N		(2.35	)%	(1.42	)	(0.26	)	0.20		1.03

* The letters included in the column are provided to show how the various ratios presented in the tables on pages 27 through 30 are calculated. For example, return on average assets on a GAAP basis is calculated by dividing net income (GAAP) by average assets (GAAP) (i.e., A/H), and annualized where appropriate.

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Wachovia 3Q08 Quarterly Earnings Report

RECONCILIATION OF CERTAIN NON-GAAP FINANCIAL MEASURES

Reconciliation of Certain Non-GAAP Financial Measures

		2008							2007
(In millions)	*	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Overhead efficiency ratios
Noninterest expense (GAAP)	O	$	25,545		12,784		5,441		5,786		4,525
Merger-related and restructuring expenses (GAAP)			(697	)	(251	)	(241	)	(187	)	(36	)
Goodwill impairment (GAAP)			(18,786	)	(6,060	)	—		—		—
Noninterest expense, excluding merger-related and restructuring expenses and goodwill impairment	P		6,062		6,473		5,200		5,599		4,489
Other intangible amortization (GAAP)			(96	)	(97	)	(103	)	(111	)	(92	)
Noninterest expense, excluding merger-related and restructuring expenses, goodwill impairment and other intangible amoritization	Q	$	5,966		6,376		5,097		5,488		4,397
Net interest income (GAAP)		$	4,991		4,290		4,752		4,630		4,551
Tax-equivalent adjustment			48		54		53		44		33
Net interest income (Tax-equivalent)			5,039		4,344		4,805		4,674		4,584
Fee and other income (GAAP)			733		3,165		2,777		2,744		2,933
Total	R	$	5,772		7,509		7,582		7,418		7,517
Retail Brokerage Services, excluding insurance Noninterest expense (GAAP)	S	$	1,919		2,116		1,628		1,718		1,033
Net interest income (GAAP)		$	365		289		260		305		255
Tax-equivalent adjustment			—		1		1		1		—
Net interest income (Tax-equivalent)			365		290		261		306		255
Fee and other income (GAAP)			1,547		1,814		1,867		1,907		1,180
Total	T	$	1,912		2,104		2,128		2,213		1,435
Overhead efficiency ratios
GAAP	O/R		442.60	%	170.24		71.76		78.00		60.20
Excluding merger-related and restructuring expenses and goodwill impairment	P/R		105.01		86.21		68.58		75.48		59.73
Excluding merger-related and restructuring expenses, goodwill impairment and brokerage	P-S/R-T		107.32		80.64		65.47		74.54		56.82
Excluding merger-related and restructuring expenses, goodwill impairment and other intangible amoritization	Q/R		103.34		84.92		67.22		73.97		58.51
Excluding merger-related and restructuring expenses, goodwill impairment, other intangible amoritization and brokerage	Q-S/R-T		104.82	%	78.84		63.59		72.43		55.32

Table continued on next page.

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Wachovia 3Q08 Quarterly Earnings Report

RECONCILIATION OF CERTAIN NON-GAAP FINANCIAL MEASURES

Reconciliation of Certain Non-GAAP Financial Measures

		2008							2007
(In millions, except per share data)	*	Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
Operating leverage
Operating leverage (GAAP)		$	(14,498	)	(7,416	)	509		(1,359	)	(847	)
Merger-related and restructuring expenses (GAAP)			(5,613	)	9		54		151		4
Goodwill impairment (GAAP)			18,786		6,060		—		—		—
Operating leverage, excluding merger-related and restructuring expenses, and goodwill impairment			(1,325	)	(1,347	)	563		(1,208	)	(843	)
Other intangible amortization (GAAP)			(1	)	(6	)	(9	)	21		(12	)
Operating leverage, excluding merger-related and restructuring expenses, goodwill impairment and other intangible amoritization		$	(1,326	)	(1,353	)	554		(1,187	)	(855	)
Dividend payout ratios on common shares
Dividends paid per common share	U	$	0.05		0.38		0.64		0.64		0.64
Diluted earnings per common share (GAAP) **	V	$	(11.18	)	(4.31	)	(0.36	)	0.03		0.85
Merger-related and restructuring expenses (GAAP)			0.19		0.06		0.06		0.05		—
Goodwill impairment (GAAP)			8.76		2.87		—		—		—
Other intangible amortization (GAAP)			0.03		0.03		0.04		0.03		0.04
Discontinued operations (GAAP)			—		—		—		0.07		0.05
Diluted earnings per common share, excluding merger-related and restructuring expenses, goodwill impairment, other intangible amoritization and discontinued operations **	W	$	(2.20	)	(1.35	)	(0.26	)	0.18		0.94
Dividend payout ratios
GAAP	U/V		(0.45	)%	(8.70	)	(177.78	)	2,133.33		75.29
Excluding merger-related and restructuring expenses, goodwill impairment, other intangible amoritization and discontinued operations	U/W		(2.27	)%	(27.78	)	(246.15	)	355.56		68.09

* The letters included in the column are provided to show how the various ratios presented in the tables on pages 27 through 30 are calculated. For example, return on average assets on a GAAP basis is calculated by dividing net income (GAAP) by average assets (GAAP) (i.e., A/H), and annualized where appropriate.

** Calculated using average basic common shares in 2008.

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Wachovia 3Q08 Quarterly Earnings Report

CAUTIONARY STATEMENT

This presentation may contain, among other things, certain forward-looking statements with respect to Wachovia and/or the proposed merger (the “Merger”) between Wachovia and Wells Fargo & Company (“Wells Fargo”) , as well as the goals, plans, objectives, intentions, expectations, financial condition, results of operations, future performance and business of Wachovia or Wells Fargo, including, without limitation, (i) statements relating to the benefits of the proposed Merger, and (ii) statements preceded by, followed by or that include the words “may”, “could”, “should”, “would”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “projects”, “outlook” or similar expressions. These statements are based upon the current beliefs and expectations of Wachovia’s and/or Wells Fargo’s management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond Wachovia’s and Wells Fargo’s control). Actual results may differ from those set forth in the forward-looking statements.

The following factors, among others, could cause Wachovia’s or Wells Fargo’s financial performance to differ materially from that expressed in such forward-looking statements: (1) the risk that the businesses of Wachovia and/or Wells Fargo in connection with the Merger will not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected; (2) the risk that expected revenue synergies and cost savings from the Merger may not be fully realized or realized within the expected time frame; (3) the risk that revenues following the Merger may be lower than expected; (4) deposit attrition, operating costs, customer loss and business disruption following the Merger, including, without limitation, difficulties in maintaining relationships with employees, may be greater than expected; (5) the inability to obtain governmental approvals of the Merger on the proposed terms and schedule; (6) the failure of Wachovia’s shareholders to approve the Merger; (7) the risk that the strength of the United States economy in general and the strength of the local economies in which Wachovia and/or Wells Fargo conducts operations may be different than expected resulting in, among other things, a deterioration in credit quality or a reduced demand for credit, including the resultant effect on Wachovia’s and/or Wells Fargo’s loan portfolio and allowance for loan losses; (8) the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; (9) potential or actual litigation; (10) inflation, interest rate, market and monetary fluctuations; (11) adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) and the impact of such conditions on Wachovia’s brokerage and capital markets activities; (12) the impact of changes in financial services’ laws and regulations (including laws concerning taxes, banking, securities and insurance); (13) the growth and profitability of Wachovia’s and/or Wells Fargo’s non-interest or fee income being less than expected; (14) unanticipated regulatory or judicial proceedings or rulings; (15) the impact of changes in accounting principles; (16) adverse changes in financial performance and/or condition of Wachovia’s and/or Wells Fargo’s borrowers which could impact repayment of such borrowers’ outstanding loans; (17) the impact on Wachovia and/or Wells Fargo’s businesses, as well as on the risks set forth above, of various domestic or international military or terrorist activities or conflicts; and (18) Wachovia’s and/or Wells Fargo’s success at managing the risks involved in the foregoing.

Wachovia cautions that the foregoing list of factors is not exclusive. All subsequent written and oral forward-looking statements concerning Wachovia, Wells Fargo, the Merger, or other matters and attributable to Wachovia or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Wachovia does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this presentation.

The proposed Merger will be submitted to Wachovia’s shareholders for their consideration. Wells Fargo will file a registration statement with the SEC, which will include a proxy statement/prospectus, and each of Wachovia and Wells Fargo may file other relevant documents concerning the proposed Merger. Shareholders and other investors are urged to read the registration statement and the proxy statement/prospectus when they become available, as well as any other relevant documents concerning the proposed Merger filed with the SEC (and any amendments or supplements to those documents), because they will contain important information. You will be able to obtain a free copy of the registration statement and the proxy statement/prospectus, as well as other filings containing information about Wachovia and Wells Fargo, at the SEC’s website (http://www.sec.gov) and at the companies’ respective websites, wachovia.com and wellsfargo.com. Copies of the proxy statement/prospectus and the SEC filings that will be incorporated by reference in the proxy statement/prospectus can also be obtained, free of charge, by directing a request to Wachovia Corporation, Investor Relations, One Wachovia Center, Charlotte, NC 28288-0206, (704) 383-0798; or to Wells Fargo & Company, Investor Relations, MAC A0101-025, 420 Montgomery Street, 2nd Floor, San Francisco, California 94104-1207, (415) 396-3668.

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Wachovia 3Q08 Quarterly Earnings Report

Wachovia and Wells Fargo and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Wachovia in connection with the proposed Merger. Information about the directors and executive officers of Wachovia is set forth in the proxy statement for Wachovia’s 2008 annual meeting of shareholders, as filed with the SEC on a Schedule 14A on March 10, 2008. Information about the directors and executive officers of Wells Fargo is set forth in the proxy statement for Wells Fargo’s 2008 annual meeting of shareholders, as filed with the SEC on a Schedule 14A on March 17, 2008. Additional information regarding the interests of those participants and other persons who may be deemed participants in the Merger may be obtained by reading the proxy statement/prospectus regarding the proposed Merger when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph.

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