AFP Press Release

AFP Issues Call For Entries For 2006 Pinnacle Awards Program

Association Honors Outstanding Achievements in Treasury and Finance

BETHESDA, MD – March 2, 2006 – The Association for Financial Professionals (AFP) is accepting entries for the 2006 AFP Pinnacle Awards Program. The program, sponsored by Wachovia’s Treasury Services division, recognizes outstanding achievements or innovations in treasury and finance.

“The AFP Pinnacle Award recognizes the best of the best in treasury and finance from the past year,” said, Linda Zang, CTP, of the 2006 Pinnacle Awards judging committee and Director of Treasury Operations, University of Pittsburgh Medical Center. “The Pinnacle Awards not only set the high watermark for excellence in treasury and finance, but they also reward practitioners for their work on behalf of corporations, agencies, the government, academia or nonprofits.”

The awards presented each year since 1996 are intended to honor the best solutions from the world of treasury finance. The Pinnacle Awards include three timely categories. The entry categories are: 1) Innovation: Leading Innovation in Treasury and Finance; 2) Strategy: Treasury as a Strategic Partner; and 3) Risk: Advanced Risk Management Methodologies. The categories reflect the expanding roles treasury and finance professionals play within their organizations.

An evaluation committee, consisting of a cross-selection of financial industry experts, will judge all entries. Submissions will be screened to mask any material necessary to ensure a blind and impartial evaluation by the judges. Past recipients have included The Ohio State Treasurer’s Office, University of Pittsburgh Medical Center, Harley-Davidson Financial Services, Inc., Manheim Auctions, Inc. and Conseco, Inc.

Trophies will be presented to winners in each of the three categories and the Grand Prize winner will be announced at the AFP 27th Annual Conference in Las Vegas, October 15-18, 2006. AFP will provide complimentary conference registration, transportation and lodging to the three winners. In addition, Wachovia will provide the grand prize winner with a check for $10,000 for donation in its name to a charity of its choice.

With AFP’s assistance, winners may develop their entries into articles for the association’s magazine, AFP Exchange, and present their winning solution as a concurrent session at AFP’s Las Vegas conference.

The submission deadline is April 24, 2006 and there is no fee to participate. Treasury and finance departments of companies, organizations or government entities – regardless of size, industry or location – may complete an application beginning on March 6, at www.afponline.org/pinnacle.

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The Association for Financial Professionals in Bethesda, Maryland, supports more than 14,000 individual members from a wide range of industries throughout all stages of their careers in various aspects of treasury and financial management. AFP is the preferred resource for financial professionals for continuing education, financial tools and publications, career development, certifications, research, representation to legislators and regulators, and the development of industry standards. For more information, visit www.afponline.org.

As part of Wachovia's Corporate and Investment Bank, Wachovia's Treasury Services Division offers a comprehensive suite of integrated payables and receivables solutions, including electronic check conversion, accounts receivable conversion, a full range of ACH services, image technology, a national wholesale and retail lockbox network and international treasury solutions. In recent Phoenix Hecht surveys, 22 out of 23 of Wachovia's treasury services product categories were ranked "A" or "A+" by upper-middle customers and 21 out of 23 of Wachovia's treasury services product categories were ranked "A" or "A+" by large corporate customers. In the middle market survey, 21 out of 26 product categories were ranked "A" or "A+" by those surveyed. Additionally, nine of the bank's key treasury product capabilities are ranked in the top five for market share in Ernst & Young's 2005 survey. Wachovia's Information and Access product, Wachovia Connection(r), ranked first in that survey for the highest number of Information Reporting Internet Accounts. Also, the most recent Bank Leader Survey placed Wachovia's Treasury Services Number 1 for "Quality of Cash Management Specialists" and Number 2 for "Operational Quality" and "Quality/Timely Implementations".