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NEWS RELEASES 2001-02

NEWS RELEASES 2001-02 :: MAY 2, 2002

CHARLOTTE-MECKLENBURG SCHOOLS PRINCIPAL NAMED 2002 N.C. WACHOVIA PRINCIPAL OF THE YEAR

RALEIGH, N.C. - A Charlotte-Mecklenburg Schools principal today won the top honor in Wachovia's 2002 Principal of the Year competition.

Dr. Lloyd G. Wimberley, principal of Myers Park High School in Charlotte, received the 2002 N.C. Wachovia Principal of the Year award today from Mac Everett, Wachovia's director of Corporate and Community Affairs, during an awards ceremony at the Cardinal Club.

"Wimberley is an exceptional instructional leader," Everett said. "He is an eternal student of educational practices who embraces change and innovation."

Wimberley was selected from among six finalists from around the state interviewed by a regional panel of educators, principals, teachers and professors from UNC-system institutions.

As Wachovia Principal of the Year, Dr. Wimberley received a cash award of $5,000 for personal use and a matching $5,000 grant for his school.

Dr. Wimberley has been principal of Myers Park, an "inner city" school with a highly-diverse student body, since 1996. The school has an internationally-renowned International Baccalaureate program, offers the highest number of Advanced Placement courses in the state, and last year its students achieved the highest SAT scores in the system. Myers Park also has earned a National Magnet School of Merit Award and recently, former Gov. Jim Hunt recognized the school's students and parents for 20,000 hours of community service. Newsweek ranks Myers Park 125th among all U.S. high schools.

Dr. Wimberley said his leadership style reflects the belief that principals should "coach and encourage always, market hope and celebrate successes."

"My vision of success involves helping engage students to cause them to invest their talents, wits and enthusiasms in work supported by all the community and adults."

Also honored at the awards ceremony were the five other finalists: William Lloyd Collins, principal of Meadowbrook School in King; Tina Lee Miller, principal of Rockfish Elementary School in Hope Mills; James Ronald Rudd, principal of Rosman High School in Rosman; Eunice O'Neal Sanders, principal of Rogers-Herr Year-Round Middle School in Durham; and Mary P. Nixon, principal of White Oak Elementary School in Edenton. Each of the finalists received $2,000 for their personal use and the same amount for their schools.

The Wachovia Principal of the Year program, now in its 22nd year, recognizes public school principals throughout North Carolina and is co-sponsored by Wachovia Corporation and the N.C. Department of Public Instruction. Candidates are judged on many criteria including the demonstrated ability to improve achievement of all students from various backgrounds and capability levels.

Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $320 billion and stockholder's equity of $29 billion at March 31, 2002. Wachovia is a leading provider of financial services to 20 million retail, brokerage and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 49 states and global services through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com and firstunion.com.

For more information, please contact Jamie Miyares, Wachovia Corporation, 336.732.5856.

About the North Carolina Department of Public Instruction:
The North Carolina Department of Public Instruction provides leadership to 115 local public school districts and 126 charter schools serving over 1.5 million students in kindergarten through high school graduation. The agency is responsible for all aspects of the state's public school system and works under the direction of the North Carolina State Board of Education.


For more information:
NCDPI Communication and Information Division, 919.807.3450.