Wachovia Championship

May 24, 2002
Respected director to oversee new event with $5.6 million purse

CHARLOTTE, N.C. - The Wachovia Championship has named Kym R. Hougham (Huffum) Tournament Director of the Wachovia Championship - a four-year PGA TOUR event held at Quail Hollow Club in Charlotte beginning May 5-11, 2003.

In this role, Hougham will manage operations, marketing, and sales for the tournament. Hougham will report to Champions for Education, Inc., the Wachovia Championship Board of Directors formed to raise funds for education and oversee the event.

"We are excited Kym has agreed to take a leadership role in this world-class golf tournament," said Ken Thompson, CEO and president of Wachovia Corp., and board member of Champions for Education, Inc. "Since we announced the event just a few weeks ago, the positive response from customers, employees and the community has been tremendous. Naming Kym to this critical role is an important next step in our ongoing efforts."

Hougham joins the Wachovia Championship after 6 years as Tournament Director of the John Deere Classic, an event that generated nearly $1.5 million in charitable donations in 2001. Hougham was instrumental in securing the Deere & Company nine-year title sponsorship, and oversaw the three-year construction of the TPC at Deere Run facility.

He is a graduate of the University of Illinois with a Bachelor of Science degree in Business Administration. Hougham lettered in golf all four years and was captain of the 1975-76 golf team. Hougham is a member of numerous civic and professional organizations, including serving as current director of the PGA TOUR Tournaments Association (PGATTA), (1997 - present); and past chairman of the Volunteer State Golf Tournament for the American Cancer Society.

"Kym is an experienced and dynamic tournament director who will provide excellent leadership to the Wachovia Championship," according to PGA TOUR Commissioner Tim Finchem. "Over the last several years, Kym worked very effectively to help raise the level of the John Deere Classic event. He has excellent relationships with the TOUR and our players, and understands how to meet the needs of tournament sponsors, charities and volunteers. He is a great choice as the Wachovia Championship begins its exciting build-up to its first event next May."

"As a veteran director, Kym's strong operations background guarantees the Wachovia Championship will provide a top-notch experience for players, guests and the community," said Johnny Harris, president of Quail Hollow Club. "This opportunity is a perfect next step for Kym. Quail Hollow, Charlotte and the Wachovia Championship are fortunate to have him in this role."

About the Wachovia Championship
The Wachovia Championship, a new official PGA TOUR event, will debut in Charlotte, N.C. in 2003. Wachovia Corporation, the fourth-largest financial services company in the United States, will be the title sponsor of the four-year event, beginning May 5-11, 2003, at Quail Hollow Club. The $5.6 million purse for the tournament is one of the highest on the TOUR, and guarantees the winner more than $1 million. The prize money, renowned golf course and facility, and early May time slot are expected to draw many of the stars on the PGA TOUR to the event. The nationally known educational foundation Teach For America is the primary charitable recipient of proceeds from the 2003 tournament.