Monday, February 24, 2003

WILMINGTON, NC – Creation of the N.C. Teachers Legacy Hall at the University of North Carolina at Wilmington took a major step forward with today’s announcement of $150,000 contribution from Wachovia.

UNCW Chancellor James R. Leutze acknowledged the gift at a news conference with David Parker, president of the Eastern Region for Wachovia. The gift, which will be given over a three-year period, will provide a significant boost in efforts to create the N.C. Teachers Legacy Hall, Leutze said.

“We appreciate that Wachovia shares our vision that the teaching profession deserves to be held in high esteem,” said Chancellor Leutze. “UNC Wilmington is committed to leading the efforts to recognize excellence in public primary and secondary school education across the state.”

Public education faces a looming crisis with regard to the recruitment and retention of teachers, said Dr. Cathy Barlow, dean of the Watson School of Education.

“According to recent studies, North Carolina’s public schools will need more than 80,000 additional teachers during the next 10 years to fill classrooms due to the state’s population growth coupled with early retirement and teacher retention issues,” said Barlow. “We must find new and innovative ways to inspire our best students to become our best teachers. Our hope is that the N.C. Teachers Legacy Hall will honor the profession while at the same time shedding light on the looming shortage of teachers.”

“Wachovia’s number one priority is education,” said David Parker, president of the Eastern Region for Wachovia. “Teachers are vital to the improvement of our children’s lives and to the strength of our growing communities. We value the opportunity to work with UNCW to create the N.C. Teachers Legacy Hall – a space that will recognize and highlight the tremendous value that our North Carolina teachers provide.”

The Legacy Hall will be in the three-story atrium area of a facility under construction at UNC Wilmington. When completed, this building will also house the Donald R. Watson School of Education and Regional Educational Resource Center. Plans for Legacy Hall include dynamic, museum-quality displays pertaining to the teaching profession that will serve as symbols of excellence. Future N.C. Teachers of the Year and Principals of the Year will be recognized annually, and a Teachers Legacy Book will be created to collect and display inspirational messages from teachers and citizens of today for educational leaders of tomorrow.

Dr. Jay Robinson, former superintendent of Cabarrus County and Charlotte-Mecklenburg County Schools and chair of the N.C. State Board of Education, was the inaugural fund-raising chair for the Legacy Hall at the time of his death.

“Jay believed in the important and powerful message that the Legacy Hall could convey to the students and citizens of the state,” said Dean Barlow. “He believed it would inspire students to reach new heights as teachers while encouraging those already in the field to continue the important work of educating our children.”



Located between the Cape Fear River and the Atlantic Ocean, the University of North Carolina at Wilmington is committed to becoming the best undergraduate teaching university in the South. Its Watson School of Education is one of the top three producers of teachers in the state with graduates attaining a 95 percent passing rate on required competency tests - 6 percent higher than the state average. Committed to the reform of public schools, the Watson School of Education has built strong relationships with regional school districts and promotes collaboration between faculty in the public schools and educators in the university. The school recently announced details of a $1.5 million federal grant that it will use to recruit active and retired military personnel into the teaching profession.



Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $342 billion and stockholders' equity of $32 billion at December 31, 2002. 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 49 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.

For more information on the N.C. Teachers Legacy Hall, contact Dr. Barlow at 910/962-3354. For additional comments from Wachovia Corp., contact Sarah Holden, communications manager, at 704/383-7157.