Facility Information Systems To Provide Wachovia With Enterprise Facility Management Technology; FIS' Technology to Manage 30+ Million Square Feet of Corporate Real Estate

CAMARILLO, Calif.--Dec. 19, 2001--Facility Information Systems Inc. (FIS), www.fisinc.com, announced today that it has begun implementing its Facility Management (FIS/FM(TM)) software system for Wachovia Corporation (NYSE: WB).
FIS' software, which is replacing the current system outsourced to another technology company, will allow Wachovia to track, plan and manage in-house the use of its more than 30 million square feet of corporate real estate.

FIS anticipates the implementation process will be complete in 90 days. At the end of the implementation process, key Wachovia decision-makers will be provided with useful information on corporate real estate management, as well as the operation of and planning for office space and equipment across Wachovia's corporate real estate.

This includes data such as lease agreements and deployment of people and equipment across the company operations. The data is delivered in real time through an easy to use Web format and a simple Internet browser.

"This offers additional proof that FIS is a reliable enterprise-class solution and that it can be successfully implemented quickly and cost effectively, delivering bottom line results for our customers," said Chuck Woznick, president and chairman of FIS. "FIS will continue to focus on the most demanding environments where the financial performance of facilities is critical."

Wachovia, the fourth-largest bank holding company in the United States, joins a roster of FIS' Fortune 500 clients who have already implemented the technology. "We are confident that FIS offers an excellent solution to our needs," said Joe Adoryan, assistant vice president for corporate real estate. "FIS' product is clearly a world class solution that will allow us to more efficiently manage our real estate, our space, our leases and other physical assets."

FIS' ability to integrate its software with legacy systems was a major factor in its selection by Wachovia. "FIS' software will work exceptionally well for Wachovia because the technology specifically supports the largest and most demanding implementations," said B. Ray Summerell, vice president of corporate development. "FIS' technology is scalable, secure and provides a robust single instance of the system at performance levels no other competitor can achieve."

About FIS

Facility Information Systems, Inc. (FIS) is a full-service, facility management information systems company dedicated to providing enterprise software solutions for facility management and corporate infrastructure resource management. FIS solutions manage a company's real estate, deployment of people, its assets and systems to maximize workforce productivity, and minimize "fixed" costs.

FIS was founded in 1993 and is a privately held, venture funded California company. For more information about FIS, log on to www.fisinc.com.

About Wachovia

Wachovia Corporation, created through the Sept. 1, 2001 merger of First Union and Wachovia with assets of $326 billion as of Sept. 30, is a leading provider of financial services to 19 million retail 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 48 states and global services through more than 30 international offices. For more information on Wachovia, log onto www.wachovia.com.

    CONTACT: Facility Information Systems Inc.
             Frank Strong, 202/944-3378
             B. Ray Summerell, ASLA, CFM