Congress Financial Capital Company has completed an offering of $300 million 4.55% medium term unsecured notes in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia, New Brunswick, Newfoundland and Prince Edward Island.

The offering was underwritten by a syndicate led by BMO Nesbitt Burns Inc. that includes RBC Dominion Securities Inc. and TD Securities Inc. The notes are unconditionally guaranteed as to payment of principal, premium, interest and certain other amounts by Wachovia Corporation of Charlotte, North Carolina. Wachovia is the parent company of CFCC and Congress Financial Corporation, a specialty finance company with a focus on asset based finance, with offices throughout the U.S., Canada and the U.K.

CFCC intends to use the proceeds of the offering to fund capital requirements of the Canadian holding companies and operating subsidiaries of Wachovia. William Davis, president of Congress Financial Corporation stated that “the proceeds of the offering will assist Congress in its support of the continued growth of Canadian companies”.

Wachovia, created through the September 1, 2001 merger of First Union and Wachovia with assets of $326 billion as of September 30 and $29 billion in stockholders’ equity, is a leading provider of financial services to 19 million retail and corporate customers throughout the East Coast and the nation. Wachovia 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 48 states and global services through more than 30 international offices.