Legal Disclaimer and Risk Disclosure: Wachovia Corporation Economics Group publications are distributed by Wachovia Corporation directly and through subsidiaries including, but
not limited to, Wachovia Capital Markets, LLC, Wachovia Securities, LLC and Wachovia Securities International Limited.
The information and opinions herein are for general information use only. Wachovia does not guarantee their accuracy or completeness, nor
does Wachovia assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Such
information and opinions are subject to change without notice, are for general information only and are not intended as an offer or solicitation
with respect to the purchase or sales of any security or as personalized investment advice. © 2007Wachovia Corp.