(August 19, 2003) - Wachovia Corporation has built and deployed its innovative Online FX foreign-exchange application on BEA WebLogic Server™. The robust BEA WebLogic Server infrastructure helped enable Wachovia, one of the nation's largest financial services companies, to enhance its Web-based foreign exchange application, and bring new services to market on a continual basis.

"Wachovia's Online FX application provides us with a strategic advantage in the marketplace by allowing us to rapidly evolve our offerings as customer requirements change," said Mark Gargano, managing director, Currency Risk Management at Wachovia. "We expect year-over-year growth of 30 percent in our Web-based foreign exchange business, with much of that growth attributable to Online FX technology and BEA WebLogic Server."

Wachovia selected BEA WebLogic as the platform for the Online FX application for its sophisticated feature set, including 24x7 availability and real-time transaction processing, as well as its maturity and stability, unsurpassed flexibility, and support for open standards.

"BEA WebLogic allows us to deliver new products and business process enhancements that used to take six months or longer to implement, in as little as eight-week cycles. These types of results allow us to remain competitive in exploiting new markets and profitability," said Gargano.