Wachovia to be exclusive ATM provider in Tesco stores

Wachovia Bank will be the exclusive ATM provider to Fresh & Easy Neighborhood Market when the first stores debut in Southern California, Las Vegas and Phoenix this fall, Tesco and Wachovia Corp. stated.

Tesco, the world’s third largest retailer, announced in 2006 it would make its first foray into the U.S. grocery market with a new chain of neighborhood-based stores on the West Coast.

The partnership between Wachovia and Fresh & Easy Neighborhood Market brings together two companies with an emerging presence in California.

Gary Bargeron, senior vice president and manager of Wachovia’s national ATM program, said Wachovia plans to build approximately 40 to 50 branches a year over the next five years in California.

The companies also said they are a natural fit in terms of their mutual concern for environmental stewardship. Wachovia recently announced a “green” financial center design in accordance with Leadership in Energy and Environmental Design (LEED) certification standards. The company said it will begin opening its green financial centers in Southern California later this year, and by the end of 2008 all new Wachovia branches will be built using LEED standards.

“Fresh & Easy believes part of being a good neighbor is being a responsible steward of the environment,” said Simon Uwins, Fresh & Easy Neighborhood Market chief marketing officer. “Underscoring that commitment, we will install an innovative 500,000 square foot solar roof at our distribution center, at a cost of $13 million. We believe it will be the largest roof-mounted solar installation in California and possibly the world. In addition to our solar roof, we will minimize waste by recycling or reusing all our shipping material. Our freezer cabinets will use LED rather than florescent lighting, saving 50 percent, and we have modified our fridges to cut energy use by 10 percent.”

Wachovia Corp. said it is one of the nation’s largest diversified financial services companies, with assets of $719.9 billion and market capitalization of $97.5 billion at June 30, 2007. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to 13 million household and business customers. Wachovia has 3,400 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses.

Tesco is the U.K.’s largest retailer and one of the world’s leading international retailers, operating over 2,800 stores across 12 countries and employing more than 370,000 people.