NC State has received a $1.5 million grant from the Wachovia Foundation.

The grant will support programs and curricula in two NC State colleges as well as a new visitor center slated to be built next year.

NC State's College of Management will receive $1 million, which will be used for undergraduate scholarships and graduate fellowships, diversity initiatives and support for minority students, and MBA Program enrichment activities. The College of Education's William and Ida Friday Institute for Educational Innovation, which will house cutting-edge educational research on NC State's Centennial Campus, and the proposed E. Carroll Joyner Visitor Center, which will be the first stop for campus visitors, will each receive $250,000.

"The Wachovia Foundation's commitment to NC State recognizes the vital role the university plays in teaching, research and service to the community," said NC State Chancellor Marye Anne Fox. "The Foundation shares our mission of educating students for 21st century life and work, ensuring our citizens' quality of life, and partnering effectively with other organizations to strengthen communities. We're thankful for the support from a great corporate partner."

"Wachovia is committed to furthering education and helping tap the vast potential in today's students. We are delighted to support NC State, a leader in providing opportunities for achievements in entrepreneurship and innovation," said Jack Clayton, Wachovia's regional president for central North Carolina.

"We are thrilled that Wachovia has chosen to enhance our academic programs and support our students through this generous gift to the college," said Dr. Jon Bartley, dean of the College of Management. "Wachovia and the College of Management both strive for excellence, and Wachovia's financial support will help assure that we can achieve excellence even in the face of reduced state budgets. Also, we could not have secured this gift without the help of our college alumni and friends at Wachovia: Ben Jenkins, senior executive vice president of general
banking; Stan Kelly, senior executive vice president of wealth management; Will Spence, president of North and South Carolina banking; Jack Clayton, regional president for central North Carolina; David Jolley, senior vice president in corporate and investment banking; and Jerry Bowen, senior vice president and regional corporate banking manager."

The Wachovia Foundation is a private foundation that is funded annually by Wachovia Corporation. The foundation provides grants to eligible 501(c)(3) tax-exempt organizations in these primary areas: education, community and economic development, health and human services, and arts and culture. Its mission is to build strong and vibrant communities, improve the quality of life, and make a positive difference where people work and live.

Wachovia Corporation, created through the September 1, 2001, merger of First Union and Wachovia, had assets of $348 billion and stockholders' equity of $32 billion at March 31, 2003. Wachovia is a leading provider of financial services to 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 48 of the 50 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com.

Posted June 3, 2003

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