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SOUTH CAROLINA NATIONAL BANK TO CHANGE NAME

 COLUMBIA, S.C., Oct. 27 /PRNewswire/ -- South Carolina National Bank, a member company of Wachovia Corporation (NYSE: WB) since 1991, today announced plans to change its name to Wachovia Bank of South Carolina, N.A., in May 1994.
 "A common name will convey a more uniform image of our bank to customers, employees and the financial community," said Anthony L. Furr, president and chief executive officer of South Carolina National. "We are one company, and we already have integrated most of our services and systems. Now our name will affirm this unity."
 The South Carolina National directors approved the change at their October meeting.
 "Wachovia is well known and highly regarded across the nation and world. Adoption of the name will bring even greater recognition of our strength," Furr said.
 "The South Carolina bank will continue its deep ties to the state and its communities. Having a new name will not change the bank's dedication to serving South Carolina -- a commitment that has been ongoing for nearly 160 years," Furr added. "The bank will retain its own board and management and remain a separate legal entity."
 The uniform name will be especially helpful in several metropolitan areas such as Aiken/Augusta, Hilton Head/Savannah and Charlotte/Rock Hill which straddle state lines and are served by both South Carolina National and Wachovia banks.
 "An additional benefit will come from spreading costs over a larger base," Furr said. "Using a single name will end duplication of items such as forms and sales materials, as well as result in savings from using common advertising."
 John G. Medlin Jr., chairman and chief executive officer of Wachovia Corporation, said, "The name change is a natural step in the merger transition. South Carolina National's decision to operate under the Wachovia banner continues the exceptionally smooth integration that began with the merger in 1991," Medlin said. "This common identity will reflect the unified and effective banking organization we have assembled across the Carolinas and Georgia."
 South Carolina National Bank has 157 offices in 71 cities. Wachovia Corporation's other member banks are Wachovia Bank of Georgia, N.A., and Wachovia Bank of North Carolina, N.A. At September 30, Wachovia Corporation had assets of $35.3 billion.
 -0- 10/27/93
 /CONTACT: (Media) Linda K. Logan, 803-765-3369, or Brenda W. Hellams, 803-765-3335, both of South Carolina National, or Nancy P. Lovelace, 919-770-5696, of Wachovia; or (Analyst) Robert S. McCoy Jr., 919-770-5926, or James C. Mabry, 919-770-5788, both of Wachovia/
 (WB)


CO: Wachovia Corporation; South Carolina National Bank ST: South Carolina, North Carolina IN: FIN SU:

SB -- CH003 -- 7358 10/27/93 13:32 EDT
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Publication:PR Newswire
Date:Oct 27, 1993
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