CHARLOTTE, N. "His work with a wide range of
industrial companies, both private and large- and small- cap, providing
strategic advice and transaction execution on mergers and acquisitions, as
well as capital raising in both the debt and equity markets, will bolster the
already strong momentum of this group in the capital goods sector. Its full-service retail
brokerage firm, Wachovia Securities, LLC, serves clients in 49 states and five
Latin American countries., Bank of America Business
Capital, one of the world 's largest asset-based lenders, announced today that
it provided a $150 million revolving credit facility to aluminum manufacturer
Ormet Corporation.

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In his new role, Smith will be responsible for covering Wachovia's client
base of capital goods companies and will be based in Charlotte."
Founded in 1956, Wheeling, West Virginia-based Ormet Corporation
( http://www . Bank of America is the No.

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The company serves clients in 150 countries
and has relationships with 98 percent of the U.

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1 SBA lender to
minority-owned small businesses.

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"Bank of America Business Capital was selected to lead this transaction
primarily because of their ability to provide a creative loan structure and
deliver a fully syndicated deal," said Ormet President and CEO Michael
Williams.

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3 billion, market
capitalization of $83. Its four core businesses, the General Bank, Capital
Management, Wealth Management, and the Corporate and Investment Bank, serve
customers primarily in 15 states and Washington, D.
Wachovia Securities is the trade name for the corporate and investment
banking services of Wachovia Corporation and its subsidiaries , including
Wachovia Capital Markets, LLC, member NYSE, NASD, SIPC. Bank of America also
will provide letters of credit and cash management products and services.bankofamerica.

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Bank of America Business Capital Provides $150 Million Exit Financing to Ormet Corporation

The asset-based loan will be used to help Ormet emerge
from bankruptcy and for ongoing working capital needs."
"We were impressed with the operational improvements made by management to
help ensure the success of their restructuring plan," said Joyce White,
president of Bank of America Business Capital. Bank of America Corporation stock
(NYSE: BAC) is listed on the New York Stock Exchange.

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Bank of America Business Capital is one of the world's largest asset-based
lenders, with 19 offices serving the United States, Canada and Europe.

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In addition, Wachovia Securities provides such products as
debt and equity financing, loan syndications, derivatives, equity investments,
asset securitization, treasury services and international correspondent
banking.3 billion at
December 31, 2004. Ormet operates facilities in
four states and employs approximately 2,000 people.S.

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Global services are offered through 33 international
offices.ormet.com ) is among the top four producers of primary aluminum
in the United States and a leading supplier of aluminum products for the
fabrication , extrusion and conversion markets.

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Previously, Smith worked in New York
for JPMorgan Securities covering diversified industrial clients. Wachovia had assets of $493.5 billion and stockholders' equity of $47.

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Smith has joined the firm as a Managing Director
in the Industrial Growth Investment Banking practice, reporting to Stewart
Wallace, Head of Wachovia's Industrial Growth Investment Banking Group . in Economics from Keynon College.

"This financing provides us with the financial flexibility to manage
our business in a highly cyclical industry.com/businesscapitalnews for
more information . The company
provides unmatched convenience in the United States, serving 33 million
consumer relationships with more than 5,800 retail banking offices, more than
16,700 ATMs and award-winning online banking with more than twelve million
active users.

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"We are very excited about the significant investment banking experience
that Kevin brings to the firm," Wallace said.A, with an emphasis on financial analysis and
international business, from Yale School of Organization and Management and a
B.

About Wachovia
Wachovia Corporation (NYSE: WB) is one of the largest providers of
financial services to retail, brokerage and corporate customers, with retail
operations from Connecticut to Florida and west to Texas, and retail brokerage
operations nationwide. 1 overall Small Business
Administration (SBA) lender in the United States and the No.

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, Wachovia Securities
announced today that Kevin J. GLASTONBURY, Conn.

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"
Prior to Wachovia, Smith was a Managing Director in the Mid-Corporate
Investment Banking Group at JPMorgan Securities in Chicago, where he was
responsible for originating corporate finance solutions for mid-cap and
private clients in the Midwest market .
Smith holds his M.

Wachovia Securities is a full-service investment bank providing clients
with equity, fixed income, and convertible research, financial sponsors
coverage, corporate finance, sales and trading, and mergers and acquisitions
advisory services. It
provides companies with senior secured loans, cash management, interest rate,
precious metals and foreign exchange risk management, and a broad array of
capital markets products.bofa.

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C. Online banking and brokerage products and services also are available
through Wachovia. "With our knowledge of the
aluminum industry and past relationship with Ormet, we were able to structure
an asset-based loan that maximized the company's borrowing power.

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Bank of America is one of the world's largest financial institutions,
serving individual consumers , small and middle market businesses and large
corporations with a full range of banking, investing , asset management and
other financial and risk-management products and services.

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Kevin J. Smith Joins Wachovia Securities Industrial Growth Investment Banking Group

Fortune 500 companies and 85
percent of the Global Fortune 500.