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August 2009

Wachovia, part of Wells Fargo Group, choses GSCF as servicing platform

Global Supply Chain Finance Ltd. (GSCF) the leading provider of Supply Chain Financing solutions with customers in over 70 countries, is pleased to announce the signing of a Service Level Agreement with Wachovia Bank (Wachovia).

When assessing the Buyer Centric and Seller Centric financing business, we searched for a servicing platform with outstanding track record and which could handle the processing of these two businesses. We are happy to have decided for GSCF, particularly since with one servicer, we are now able to handle efficiently both business models with worldwide coverage”, said Stuart Roberts, Managing Director of Supply Chain Finance at Wachovia. He added: “Wachovia has selected GSCF as its servicing platform based on GSCF’s experience, quality controls and reputation”.

GSCF’s CEO Kendall Stevens commented: “I am convinced that together, Wachovia and GSCF will be able to build up a strong and reliable service in the Supply Chain Financing field. GSCF especially appreciates this new relationship with Wachovia as it will further enhance our services to Buyers and Sellers in the US market, and also internationally”.

Wachovia is part of the Wells Fargo Group, one of North America’s largest and most diverse financial services companies with a legendary reputation for strength and stability. Wells Fargo & Company is a diversified financial services company providing banking insurance, investments, mortgage and consumer finance.

To learn more about GSCF Group, please contact us.