WACHOVIA COMMERCIAL MORTGAGE SECURITIES INC Unscheduled Material Events (8-K) EXHIBIT 99

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The following is an excerpt from a 8-K SEC Filing, filed by WACHOVIA COMMERCIAL MORTG ... on 3/24/2003.

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EXHIBIT 99

TERM SHEETS

CMBS New Issue Term Sheet

$534,834,000 (approximate)

Wachovia Bank Commercial Mortgage Trust

Commercial Mortgage Pass-Through Certificates Series 2003-C4
Offered Classes A-1, A-2, B, C, D and E
Certificates

Wachovia Bank, National Association,
LaSalle Bank National Association,
Nomura Credit & Capital, Inc. and
Artesia Mortgage Capital Corporation

Mortgage Loan Sellers

Wachovia Bank, National Association

Master Servicer

Clarion Partners, LLC

Special Servicer

March 2003

This material is for your private information and none of Wachovia Securities, Inc., ABN AMRO Incorporated or Nomura Securities International, Inc. (collectively, the "Underwriters") is soliciting any action based upon it. This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. This material is based on information that the Underwriters consider reliable, but the Underwriters do not represent that it is accurate or complete and it should not be relied upon as such. By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may pertain to securities that ultimately are not sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected herein. The Underwriters make no representation regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes. The Underwriters and their affiliates, officers, directors, partners and employees, including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy and sell, the securities mentioned therein or derivatives thereof (including options). This material may be filed with the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including all cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement. Information contained in this material is current as of the date appearing in this material only. Information in this material regarding any assets backing any securities discussed herein supersedes all prior information regarding such assets. Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded in its entirety by the information contained in any final prospectus and prospectus supplement for any securities actually sold to you. This material is furnished solely by the Underwriters and not by the issuer of the securities. The issuer of the securities has not prepared, reviewed or participated in the preparation of this material, is not responsible for the accuracy of this material and has not authorized the dissemination of this material. The Underwriters are acting as underwriters and not acting as agents for the issuer in connection with the proposed transaction.

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Structure

Pool Characteristics

Top 10

TABLE OF CONTENTS

Transaction Structure
Structure Overview 3 Structure Schematic 4 Transaction Terms 5

Mortgage Pool Characteristics as of the Cut-Off Date General Characteristics 9 Property Type 10 Property Location 11 Cut-Off Date Balance of Mortgage Loans 12 Mortgage Rate 13 Underwritten Debt Service Coverage Ratio 14 Cut-Off Date Loan-to-Value Ratio 15 Maturity Date or ARD Loan-to-Value Ratio 15 Original Term to Maturity or ARD 16 Remaining Term to Maturity or ARD 16 Seasoning 17 Original Amortization Term 18 Remaining Stated Amortization Term 18 Prepayment Provisions Summary 19 Prepayment Provision Based on Outstanding Principal Balance 19

Ten Largest Mortgage Loans 21 S&P Portfolio 22 Pico Rivera Towne Center 28 Portland Office Portfolio 31 Mesa Regal RV Resort 36 King Farm Village Center 38 Dogwood Festival Market 41 Fair Lakes Center 44 Lexington Crossing Apartments 47 Point Plaza East 49 Pacific Park Apartments 52

Additional Mortgage Loan Information 54

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4

Structure

Transaction Structure

Structure Overview

OFFERED CERTIFICATES

Expected Approx. Assumed Ratings % of Approx. Weighted Final ----------------- Certificate Cut-Off Date Credit Average Principal Distribution Class S&P Fitch Balance(1) Pool Balance Support Life (yrs)(2) Window(2) Date(2) Rate Type

A-1 AAA AAA $ 80,500,000 9.027 % 21.000 % 3.50 05/03-02/08 02/15/2008 Fixed
A-2 AAA AAA $ 374,075,000 41.948 % 21.000 % 7.98 02/08-03/13 03/15/2013 Fixed
B AA AA $ 34,556,000 3.875 % 17.125 % 9.93 03/13-03/13 03/15/2013 Fixed
C AA- AA- $ 11,147,000 1.250 % 15.875 % 9.93 03/13-03/13 03/15/2013 Fixed
D A A $ 22,294,000 2.500 % 13.375 % 9.97 03/13-04/13 04/15/2013 Fixed
E A- A- $ 12,262,000 1.375 % 12.000 % 10.01 04/13-04/13 04/15/2013 Fixed

NON-OFFERED CERTIFICATES

A-1A(4) (4) (4) $ 249,922,000 28.025 % 21.000 % (4) (4) (4) Fixed
F(4) (4) (4) $ 12,262,000 1.375 % 10.625 % (4) (4) (4) Fixed(3)
G(4) (4) (4) $ 12,261,000 1.375 % 9.250 % (4) (4) (4) WAC(5)
H(4) (4) (4) $ 12,262,000 1.375 % 7.875 % (4) (4) (4) WAC(5)
J(4) (4) (4) $ 20,065,000 2.250 % 5.625 % (4) (4) (4) Fixed
K(4) (4) (4) $ 8,918,000 1.000 % 4.625 % (4) (4) (4) Fixed
L(4) (4) (4) $ 6,688,000 0.750 % 3.875 % (4) (4) (4) Fixed
M(4) (4) (4) $ 6,688,000 0.750 % 3.125 % (4) (4) (4) Fixed
N(4) (4) (4) $ 1,115,000 0.125 % 3.000 % (4) (4) (4) Fixed
O(4) (4) (4) $ 4,459,000 0.500 % 2.500 % (4) (4) (4) Fixed
P(4) (4) (4) $ 22,294,534 2.500 % 0.000 % (4) (4) (4) Fixed
X-C(4) (4) (4) $ 891,768,534 (6) N/A N/A N/A N/A (4) Variable
X-P(4) (4) (4) $ 846,619,000 (6) N/A N/A N/A N/A (4) Variable

(1) In the case of each such Class, subject to a permitted variance of plus or minus 5%.

(2) As of the Cut-Off Date, the Weighted Average Life, Principal Window and Assumed Final Distribution Date were calculated assuming no prepayments will be made on the Mortgage Loans prior to their related maturity dates (or, in the case of ARD Loans, their Anticipated Repayment Dates) and the other assumptions set forth under "YIELD AND MATURITY CONSIDERATIONS - Yield Considerations" in the preliminary prospectus supplement.

(3) The Pass-Through Rate applicable to the Class F Certificates for any Distribution Date will be subject to a maximum rate of the applicable Weighted Average Net Mortgage Rate for such date.

(4) Not offered hereby. Any information provided herein regarding the terms of these Certificates is provided only to enhance your understanding of the Offered Certificates.

(5) The Pass-Through Rate applicable to the Class G and Class H Certificates for any Distribution Date will be equal to the applicable Weighted Average Net Mortgage Rate for such date less [ ]% per annum.

(6) The Class X Certificates will not have a certificate balance and their holders will not receive distributions of principal, but such holders are entitled to receive payments of the aggregate interest accrued on the notional amount of each of the components of the Class X Certificates as described in the preliminary prospectus supplement. The interest rate applicable to each component of the Class X Certificates for each distribution date will equal the rate specified in the preliminary prospectus supplement.

NOTES

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Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4
Structure Schematic

[[Image Removed: (Structural Overview Chart)]]

NOTES

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4

Structure

Transaction Terms

NOTE: CAPITALIZED TERMS USED BUT NOT OTHERWISE DEFINED HEREIN HAVE THE MEANINGS ASCRIBED TO THEM IN THE PRELIMINARY PROSPECTUS SUPPLEMENT DATED MARCH 2003.

Issue Type Sequential pay REMIC. Class A-1, A-2, B, C, D and E Certificates (the "Offered Certificates") are offered publicly. All other Certificates will be privately placed to qualified institutional buyers or to institutional accredited investors.

Cut-Off Date All Mortgage Loan characteristics are based on balances as of the Cut-Off Date, April 11, 2003 (or in the case of 47 Mortgage Loans, April 1, 2003). All percentages presented herein are approximate.

Mortgage Pool The Mortgage Pool consists of 140 Mortgage Loans (the "Mortgage Loans") with an aggregate balance as of the Cut-Off Date of $891,768,535 (the "Cut-Off Date Pool Balance"), subject to a variance of plus or minus 5%. The Mortgage Loans are secured by 147 properties (the "Mortgaged Properties") located throughout 33 states and the District of Columbia. The Mortgage Pool will be deemed to consist of 2 loan groups ("Loan Group 1" and "Loan Group 2" and, collectively, the "Loan Groups"). Loan Group 1 will consist of (i) all of the Mortgage Loans that are not secured by Mortgaged Properties that are multifamily properties and/or mobile home park properties, (ii) 2 Mortgage Loans that are secured by Mortgaged Properties that are multifamily properties and
(iii) 1 Mortgage Loan that is secured by a Mortgaged Property that is a mobile home property. Loan Group 1 is expected to consist of 84 Mortgage Loans, with an aggregate balance as of the Cut-Off Date of $641,845,698 (the "Cut-Off Date Group 1 Balance"). Loan Group 2 will consist of 42 Mortgage Loans that are secured by Mortgaged Properties that are multifamily properties and 14 Mortgage Loans that are secured by Mortgaged Properties that are mobile home park properties. Loan Group 2 is expected to consist of 56 Mortgage Loans, with an aggregate balance as of the Cut-Off Date of $249,922,837 (the "Cut-Off Date Group 2 Balance" and collectively with the Cut-Off Date Group 1 Balance, the "Cut-Off Date Group Balances").

Depositor Wachovia Commercial Mortgage Securities, Inc.

Mortgage Loan Sellers Wachovia Bank, National 52.9% of the Cut-Off Association Date Pool Balance LaSalle Bank National 19.8% of the Cut-Off Association Date Pool Balance Nomura Credit & Capital, Inc. 16.2% of the Cut-Off Date Pool Balance Artesia Mortgage Capital 11.1% of the Cut-Off Corporation Date Pool Balance

Underwriters Wachovia Securities, Inc., ABN AMRO Incorporated and Nomura Securities International, Inc.

Trustee Wells Fargo Bank Minnesota, N.A.

Master Servicer Wachovia Bank, National Association

Special Servicer Clarion Partners, LLC

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4

Transaction Terms

Paying Agent LaSalle Bank National Association

Rating Agencies Standard and Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc., ("S&P") and Fitch Ratings ("Fitch").

Denominations $10,000 minimum for Offered Certificates.

Closing Date On or about April 10, 2003.

Settlement Terms Book-entry through DTC for all Offered Certificates.

Distribution Date The 15th day of each month, or if such 15th day is not a business day, the next succeeding business day, commencing with respect to the Offered Certificates in May 2003.

Determination For any Distribution Date, the fourth business day prior to Date the related Distribution Date.

Interest Each Class of Offered Certificates will be entitled on each Distributions Distribution Date to interest accrued at its Pass-Through Rate for such Distribution Date on the outstanding Certificate Balance of such Class during the prior calendar month. Interest on the Offered Certificates will be calculated on the basis of twelve 30-day months and a 360-day year. Interest will be distributed on each Distribution Date in sequential order of class designations with Class A-1, Class A-2, Class A-1A, Class X-C and Class X-P ranking pari passu in entitlement to interest.

Principal Principal will be distributed on each Distribution Date to Distributions the Class of Sequential Pay Certificates outstanding with the earliest alphabetical/ numerical Class designation until its Certificate Balance is reduced to zero. Generally, the Class A-1 and Class A-2 certificates will only be entitled to receive distributions of principal collected or advanced in respect of Mortgage Loans in Loan Group 1 until the Certificate Balance of the Class A-1A Certificates has been reduced to zero, and the Class A-1A Certificates will only be entitled to receive distributions of principal collected or advanced in respect of Mortgage Loans in Loan Group 2 until the Certificate Balance of the Class A-2 Certificates has been reduced to zero. If, due to losses, the Certificate Balances of the Class B through Class P Certificates are reduced to zero but any two of Class A-1, Class A-2 and/or Class A-1A Certificates remain outstanding, payments of principal to the outstanding Class A-1, Class A-2 and Class A-1A Certificates will be made on a pro rata basis.

Losses Realized Losses and Additional Trust Fund Expenses, if any, will be allocated to the Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C, and Class B Certificates, in that order, and then, pro rata, to the Class A-1, Class A-2 and Class A-1A Certificates.

Prepayment Any Prepayment Premiums or Yield Maintenance Charges will be Premiums and distributed to Certificateholders on the Distribution Date Yield Maintenance following the collection period in which the prepayment Charges occurred. On each Distribution Date, the holders of each Class of Offered Certificates and Class A-1A, Class F, Class G and Class H Certificates then entitled to principal distributions will be entitled to a portion of Prepayment Premiums or Yield Maintenance Charges (in the case of the Class A-1, Class A-2 and Class A-1A Certificates, to the extent related to the particular Loan Group) equal to the product of (a) the amount of such Prepayment Premiums or Yield Maintenance Charges, multiplied by (b) a fraction, the numerator of which is equal to the excess, if any, of the Pass-Through Rate of such Class

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4

Structure

Transaction Terms

of Certificates over the relevant Discount Rate, and the denominator of which is equal to the excess, if any, of the Mortgage Rate of the prepaid Mortgage Loan over the relevant Discount Rate, multiplied by (c) a fraction, the numerator of which is equal to the amount of principal distributable on such Class of Certificates on such Distribution Date, and the denominator of which is the applicable Principal Distribution Amount for such Distribution Date.

The portion, if any, of the Prepayment Premiums or Yield Maintenance Charges remaining after any payments described above will be distributed to the holders of the Class X-C Certificates (not offered hereby).

Advances The Master Servicer and, if it fails to do so, the Trustee, will be obligated to make P&I Advances and Servicing Advances, including delinquent property taxes and insurance, but only to the extent that such Advances are deemed recoverable and in the case of P&I Advances subject to Appraisal Reductions that may occur.

Appraisal An appraisal reduction generally will be created in the Reductions amount, if any, by which the principal balance of a Required Appraisal Loan (plus other amounts overdue or advanced in connection with such loan) exceeds 90% of the appraised value of the related Mortgaged Property plus all escrows and reserves (including letters of credit) held with respect to the Mortgage Loan. As a result of calculating an Appraisal Reduction Amount for a given Mortgage Loan, the P&I Advance for such loan will be reduced, which will have the effect of reducing the amount of interest available for distribution to the Subordinate Certificates in reverse alphabetical order of the Classes. An Appraisal Reduction will be reduced to zero as of the date the related Mortgage Loan has been brought current for at least three consecutive months, paid in full, liquidated, repurchased, or otherwise disposed.

Optional The Master Servicer, the Special Servicer and certain Termination Certificateholders will have the option to terminate the Trust, in whole but not in part, and purchase the remaining assets of the Trust on or after the Distribution Date on which the Stated Principal Balance of the Mortgage Loans then outstanding is less than 1% of the Cut-Off Date Pool Balance. Such purchase price will generally be at a price equal to the unpaid aggregate principal balance of the Mortgage Loans (or fair market value in the case of REO Properties), plus accrued and unpaid interest and certain other additional trust fund expenses.

The Trust may also be terminated under certain circumstances when the Offered Certificates have been paid in full upon the consent of all of the holders of the then outstanding certificates and the Master Servicer.

Controlling Class The Class of Sequential Pay Certificates (a) which bears the latest alphabetical Class designation and (b) the Certificate Balance of which is greater than 25% of its original Certificate Balance provided, however, that if no Class of Sequential Pay Certificates satisfies clause (b) above, the Controlling Class shall be the outstanding Class of Sequential Pay Certificates bearing the latest alphabetical Class designation.

ERISA The Offered Certificates are expected to be ERISA eligible.

SMMEA The Offered Certificates are not expected to be "mortgage-related securities" for the purposes of SMMEA.

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4
Transaction Terms

Contact Wachovia ABN AMRO Incorporated Nomura Securities Securities, International, Inc. Inc. Frank Forelle
(212) 409-7587 (Phone) Mark Brown William J. (212) 409-7849 (Fax) (212) 667-9087 Cohane (Phone)
(704) 374-6161 Gerald Sneider (646) 587-9087 (Fax)
(Phone) (212) 409-7587 (Phone)
(704) 383-7639 (212) 409-7849 (Fax) Bruce Viergever (Fax) (212) 667-9151 Steven R. Adang (Phone) Scott Fuller (212) 409-6206 (Phone) (646) 587-9151 (Fax)
(704) 715-1235 (212) 409-7849 (Fax) (Phone) Kurt Kaline
(704) 715-1214 (212) 667-2485
(Fax) (Phone)
(212) 667-9680 (Fax) Bob Ricci (704) 715-1235
(Phone) (704) 715-1214
(Fax)

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Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4

Pool Characteristics

Mortgage Pool Characteristics as of the Cut-Off Date

GENERAL CHARACTERISTICS

All Mortgage Loan Loan Loans Group 1 Group 2

Number of Mortgage Loans 140 84 56 Number of Crossed Loan Pools 2 2 0 Number of Mortgaged Properties 147 85 62 Aggregate Balance of all Mortgage Loans $ 891,768,535 $ 641,845,698 $ 249,922,837

Number of Mortgage Loans with Balloon
Payments(1) 100 53 47 Aggregate Balance of Mortgage Loans with Balloon Payments (1) $ 660,255,938 $ 430,049,382 $ 230,206,556

Number of Mortgage Loans with Anticipated Repayment Date 31 26 5 Aggregate Balance of Mortgage Loans with Anticipated Repayment Date $ 203,438,793 $ 193,558,793 $ 9,880,000

Number of Fully Amortizing Mortgage Loans 9 5 4 Aggregate Balance of Fully Amortizing
Mortgage Loans $ 28,073,804 $ 18,237,523 $ 9,836,281

Average Balance of Mortgage Loans $ 6,369,775 $ 7,641,020 $ 4,462,908 Minimum Balance of Mortgage Loans $ 507,614 $ 507,614 $ 1,097,500 Maximum Balance of Mortgage Loans $ 33,500,000 $ 33,500,000 $ 20,730,000

Maximum Balance for a group of
cross-collateralized and cross-defaulted Mortgage Loans 40,702,284 $ 40,702,284 $ 0

Weighted Average LTV ratio 73.4 % 72.6 % 75.5 % Minimum LTV ratio 37.6 % 37.6 % 45.6 % Maximum LTV ratio 80.1 % 80.1 % 79.9 %

Weighted Average DSCR(2) 1.47 x 1.46 x 1.47 x Minimum DSCR(2) 1.15 x 1.15 x 1.23 x Maximum DSCR(2) 2.18 x 2.18 x 1.94 x

Weighted Average LTV at Maturity or
Anticipated Repayment Date(2) 60.9 % 60.5 % 61.8 %

Weighted Average Mortgage Loan interest rate 5.699 % 5.709 % 5.674 % Minimum Mortgage Loan interest rate 5.100 % 5.190 % 5.100 % Maximum Mortgage Loan interest rate 8.200 % 8.200 % 6.900 %

Weighted Average Remaining Term to Maturity Date or Anticipated Repayment Date (months) 108 106 114 Minimum Remaining Term to Maturity or
Anticipated Repayment Date (months) 57 57 57 Maximum Remaining Term to Maturity or
Anticipated Repayment Date (months) 236 236 202

(1) Not including Mortgage Loans with Anticipated Repayment Dates.
(2) For purposes of determining the underwritten DSC Ratio of 4 Mortgage Loans (loan numbers 21, 59, 86 and 91), representing 2.6% of the Cut-Off Date Pool Balance (3 Mortgage Loans (loan numbers 59, 86 and 91), representing 1.8% of the Cut-Off Date Group 1 Balance, and 1 Mortgage Loan (loan number 21), representing 4.7% of the Cut-Off Date Group 2 Balance), the debt service payments were reduced by amounts available under a letter of credit. See "DESCRIPTION OF THE MORTGAGE POOL - Additional Mortgage Loan Information" in the preliminary prospectus supplement.

NOTES

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4
Mortgage Pool Characteristics as of the Cut-Off Date*

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PROPERTY TYPE

% of % of Aggregate % of Cut-Off Cut-Off Average Min/Max Weighted Number of Cut-Off Initial Date Date Weighted Min/Max Cut-Off Cut-Off Average Mortgaged Date Pool Group 1 Group 2 Average DSCR Date Date Mortgage Property Type Properties Balance Balance Balance Balance DSCR Weighted LTV Ratio LTV Ratio Rate

Retail 60 $ 375,705,763 42.1 % 58.5 % 0.0 % 1.47 x 1.15x/2.18x 73.0% 37.6%/80.1% 5.797%
Retail - Anchored 44 288,812,013 32.4 45.0 0.0 1.47 x 1.25x/2.18x 73.5% 53.7%/80.1% 5.762%
Retail - Shadow
Anchored(1) 11 62,383,709 7.0 9.7 0.0 1.44 x 1.15x/1.67x 71.6% 61.2%/76.6% 5.908%
Retail - Unanchored 5 24,510,041 2.7 3.8 0.0 1.47 x 1.42x/1.51x 69.7% 37.6%/76.2% 5.923%
Multifamily 50 231,042,041 25.9 3.5 83.4 1.45 x 1.23x/1.94x 75.5% 45.6%/79.9% 5.622%
Office 14 145,560,205 16.3 22.7 0.0 1.45 x 1.23x/1.66x 74.4% 63.7%/80.0% 5.699%
Mobile Home Park 15 71,552,019 8.0 4.7 16.6 1.51 x 1.31x/1.69x 70.4% 63.0%/79.6% 5.627%
Mixed Use 5 45,985,557 5.2 7.2 0.0 1.44 x 1.30x/1.67x 70.7% 45.4%/76.1% 5.367%
Industrial 3 21,922,949 2.5 3.4 0.0 1.58 x 1.41x/2.04x 66.8% 45.0%/74.7% 5.771%
147 $ 891,768,535 100.0 % 100.0 % 100.0 % 1.47 x 1.15x/2.18x 73.4% 37.6%/80.1% 5.699%

(1) A Mortgaged Property is classified as shadow anchored if it is located in close proximity to an anchored retail property.

* For purposes of determining the underwritten DSC Ratio of 4 Mortgage Loans (loan numbers 21, 59, 86 and 91), representing 2.6% of the Cut-Off Date Pool Balance (3 Mortgage Loans (loan numbers 59, 86 and 91), representing 1.8% of the Cut-Off Date Group 1 Balance, and 1 Mortgage Loan (loan number 21), representing 4.7% of the Cut-Off Date Group 2 Balance), the debt service payments were reduced by amounts available under a letter of credit. See "DESCRIPTION OF THE MORTGAGE POOL - Additional Mortgage Loan Information" in the preliminary prospectus supplement.

The sum of aggregate percentage calculations may not equal 100% due to rounding.

NOTES

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4

Pool Characteristics

Mortgage Pool Characteristics as of the Cut-Off Date*

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Other States: 52.4% of Cut-Off Date Pool Balance.

PROPERTY LOCATION

% of % of Weighted Weighted Number of Aggregate % of Cut-Off Date Cut-Off Date Weighted Average Average Mortgaged Cut-Off Date Cut-Off Date Group 1 Group 2 Average Cut-Off Date Mortgage States Properties Balance Pool Balance Balance Balance DSCR LTV Ratio Rate

CA 24 $ 191,630,075 21.5 % 28.3 % 4.0 % 1.46x 72.2% 5.740%
Southern(1) 21 173,556,358 19.5 25.5 4.0 1.47x 73.0% 5.738%
Northern(1) 3 18,073,717 2.0 2.8 0.0 1.37x 64.4% 5.757%
FL 11 76,671,047 8.6 7.3 12.0 1.47x 73.3% 5.481%
MD 6 59,579,579 6.7 8.8 1.4 1.41x 74.3% 5.539%
CO 7 50,222,925 5.6 7.2 1.7 1.36x 77.1% 5.593%
AZ 5 46,028,255 5.2 5.7 3.8 1.48x 66.7% 5.554%
Other 94 467,636,655 52.4 42.8 (2) 77.2 (3) 1.48x 74.0% 5.764%

147 $ 891,768,535 100.0 % 100.0 % 100.0 % 1.47x 73.4% 5.699%

(1) For purposes of determining whether a Mortgaged Property is located in Northern California or Southern California, Mortgaged Properties located north of San Luis Obispo County, Kern County and San Bernardino County were included in Northern California and Mortgaged Properties located in and south of such counties were included in Southern California.

(2) Includes 5.5% in VA and 5.0% in OR.
(3) Includes 11.6% in GA, 6.9% in IN and 5.8% in IL.

- The Mortgaged Properties are located throughout 33 states and the District of Columbia.

The sum of aggregate percentage calculations may not equal 100% due to rounding.

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4
Mortgage Pool Characteristics as of the Cut-Off Date*

CUT-OFF DATE BALANCE OF MORTGAGE LOANS

% of % of Weighted Weighted Number of Aggregate % of Cut-Off Date Cut-Off Date Weighted Average Average Mortgage Cut-Off Date Cut-Off Date Group 1 Group 2 Average Cut-Off Date Mortgage Range of Cut-Off Date Balances Loans Balance Pool Balance Balance Balance DSCR LTV Ratio Rate

less than =$2,000,000 18 $ 25,556,156 2.9 % 0.3 % 9.5 % 1.50x 70.1% 5.931%
$2,000,001 - $3,000,000 20 51,828,822 5.8 4.9 8.1 1.44x 68.3% 5.965%
$3,000,001 - $4,000,000 32 113,121,884 12.7 11.6 15.5 1.44x 73.7% 5.893%
$4,000,001 - $5,000,000 19 83,226,340 9.3 7.5 13.9 1.46x 73.6% 5.848%
$5,000,001 - $6,000,000 6 32,563,530 3.7 4.3 2.1 1.42x 78.0% 5.713%
$6,000,001 - $7,000,000 8 51,846,067 5.8 6.1 5.2 1.48x 69.7% 5.604%
$7,000,001 - $8,000,000 6 46,014,127 5.2 4.7 6.3 1.44x 74.5% 5.831%
$8,000,001 - $9,000,000 2 16,365,846 1.8 0.0 6.5 1.49x 77.8% 5.601%
$9,000,001 - $10,000,000 4 39,048,543 4.4 4.5 4.0 1.53x 68.3% 5.502%
$10,000,001 - $15,000,000 13 163,861,188 18.4 17.5 20.5 1.52x 73.0% 5.656%
$15,000,001 - $20,000,000 5 88,136,772 9.9 13.7 0.0 1.40x 77.1% 5.657%
$20,000,001 - $25,000,000 3 62,391,812 7.0 6.5 8.3 1.46x 75.8% 5.445%
$25,000,001 - $30,000,000 3 84,307,448 9.5 13.1 0.0 1.44x 71.9% 5.373%
$30,000,001 - $35,000,000 1 33,500,000 3.8 5.2 0.0 1.49x 77.0% 5.930%
140 $ 891,768,535 100.0 % 100.0 % 100.0 % 1.47x 73.4% 5.699%

- The average Cut-Off Date Balance is $6,369,775.

The sum of aggregate percentage calculations may not equal 100% due to rounding.

NOTES

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4

Pool Characteristics

Mortgage Pool Characteristics as of the Cut-Off Date*

MORTGAGE RATE

% of % of Weighted Weighted Range of Number of Aggregate % of Cut-Off Date Cut-Off Date Weighted Average Average Mortgage Mortgage Cut-Off Date Cut-Off Date Group 1 Group 2 Average Cut-Off Date Mortgage Rates Loans Balance Pool Balance Balance Balance DSCR LTV Ratio Rate

5.100% - 5.249% 3 $ 52,726,960 5.9 % 5.0 % 8.3 % 1.44x 75.7% 5.155%
5.250% - 5.499% 26 212,257,232 23.8 26.8 16.0 1.53x 69.5% 5.381%
5.500% - 5.749% 37 250,039,649 28.0 23.1 40.6 1.44x 75.9% 5.610%
5.750% - 5.999% 29 179,990,595 20.2 22.1 15.3 1.49x 75.1% 5.851%
6.000% - 6.249% 26 142,553,690 16.0 16.0 15.9 1.43x 73.0% 6.063%
6.250% - 6.499% 12 40,005,194 4.5 6.0 0.6 1.34x 73.4% 6.293%
6.500% - 6.749% 4 9,201,629 1.0 0.4 2.6 1.58x 56.9% 6.702%
6.750% - 6.999% 2 4,485,972 0.5 0.4 0.7 1.30x 71.3% 6.807%
8.000% - 8.249% 1 507,614 0.1 0.1 0.0 1.49x 37.6% 8.200%
140 $ 891,768,535 100.0 % 100.0 % 100.0 % 1.47x 73.4% 5.699%

- The weighted average Mortgage Rate is 5.699%.

The sum of aggregate percentage calculations may not equal 100% due to rounding.

NOTES

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4
Mortgage Pool Characteristics as of the Cut-Off Date*

UNDERWRITTEN DEBT SERVICE COVERAGE RATIO

% of % of Weighted Weighted Range Number of Aggregate % of Cut-Off Date Cut-Off Date Weighted Average Average of Mortgage Cut-Off Date Cut-Off Date Group 1 Group 2 Average Cut-Off Date Mortgage DSCRs Loans Balance Pool Balance Balance Balance DSCR LTV Ratio Rate

1.15x - 1.19x 1 $ 4,585,660 0.5 % 0.7 % 0.0 % 1.15 x 74.0% 5.610%
1.20x - 1.24x 3 9,465,354 1.1 1.2 0.8 1.23 x 66.0% 5.772%
1.25x - 1.29x 10 40,130,874 4.5 5.1 2.9 1.28 x 73.2% 6.071%
1.30x - 1.34x 11 70,967,138 8.0 9.4 4.1 1.32 x 73.5% 5.804%
1.35x - 1.39x 13 74,794,476 8.4 9.4 5.9 1.37 x 74.4% 5.974%
1.40x - 1.44x 33 237,049,140 26.6 24.0 33.2 1.42 x 75.8% 5.653%
1.45x - 1.49x 26 234,499,122 26.3 28.0 21.8 1.47 x 74.4% 5.598%
1.50x - 1.54x 15 86,432,152 9.7 9.4 10.4 1.52 x 74.8% 5.764%
1.55x - 1.59x 8 43,850,933 4.9 2.7 10.6 1.56 x 72.3% 5.534%
1.60x - 1.64x 7 29,511,277 3.3 2.8 4.6 1.61 x 66.1% 5.672%
1.65x - 1.69x 8 29,114,253 3.3 3.2 3.3 1.67 x 65.1% 5.656%
1.80x - 1.84x 1 9,427,367 1.1 1.5 0.0 1.83 x 68.8% 5.380%
1.85x - 1.89x 1 3,666,768 0.4 0.0 1.5 1.85 x 74.8% 5.790%
1.90x - 1.94x 1 1,998,069 0.2 0.0 0.8 1.94 x 51.2% 5.400%
2.00x - 2.04x 1 2,788,982 0.3 0.4 0.0 2.04 x 45.0% 6.650%
2.15x - 2.19x 1 13,486,968 1.5 2.1 0.0 2.18 x 53.7% 5.400%
140 $ 891,768,535 100.0 % 100.0 % 100.0 % 1.47 x 73.4% 5.699%

- The weighted average Debt Service Coverage Ratio is 1.47x.

The sum of aggregate percentage calculations may not equal 100% due to rounding.

NOTES

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4

Pool Characteristics

Mortgage Pool Characteristics as of the Cut-Off Date*

CUT-OFF DATE LOAN-TO-VALUE RATIO

% of % of % of Weighted Weighted Number of Aggregate Cut-Off Date Cut-Off Date Cut-Off Date Weighted Average Average Range of Cut-Off Date Mortgage Cut-Off Date Pool Group 1 Group 2 Average Cut-Off Date Mortgage LTV Ratios Loans Balance Balance Balance Balance DSCR LTV Ratio Rate

35.01% - 40.00% 1 $ 507,614 0.1 % 0.1 % 0.0 % 1.49 x 37.6 % 8.200 %
40.01% - 50.00% 3 7,500,793 0.8 0.8 1.0 1.58 x 45.3 % 6.573 %
50.01% - 55.00% 4 21,265,282 2.4 2.8 1.3 2.01 x 52.8 % 5.459 %
55.01% - 60.00% 2 17,645,219 2.0 2.7 0.0 1.54 x 59.5 % 5.635 %
60.01% - 65.00% 9 68,274,599 7.7 10.6 0.0 1.49 x 63.0 % 5.442 %
65.01% - 70.00% 15 80,906,593 9.1 9.9 7.0 1.47 x 68.1 % 5.860 %
70.01% - 75.00% 50 263,924,527 29.6 28.2 33.2 1.46 x 73.5 % 5.683 %
75.01% - 80.13% 56 431,743,908 48.4 44.9 57.6 1.43 x 78.1 % 5.715 %
140 $ 891,768,535 100.0 % 100.0 % 100.0 % 1.47 x 73.4 % 5.699 %

- The weighted average Cut-Off Date LTV Ratio is 73.4%.

MATURITY DATE OR ARD LOAN-TO-VALUE RATIO

Weighted % of % of % of Average Weighted Range of Maturity Date or Number of Aggregate Cut-Off Date Cut-Off Date Cut-Off Date Weighted Maturity Average ARD Mortgage Cut-Off Date Pool Group 1 Group 2 Average Date Mortgage Loan-to-Value Ratios(1) Loans Balance Balance Balance Balance DSCR LTV Ratio Rate

0.00% - 5.00% 9 $ 28,073,804 3.1 % 2.8 % 3.9 % 1.32 x 0.4 % 5.780 %
20.01% - 30.00% 2 5,095,879 0.6 0.8 0.0 1.27 x 24.7 % 5.886 %
30.01% - 40.00% 4 9,681,900 1.1 1.1 1.0 1.50 x 36.4 % 6.505 %
40.01% - 50.00% 4 31,911,071 3.6 4.7 0.8 1.73 x 44.7 % 5.665 %
50.01% - 55.00% 8 74,156,806 8.3 10.1 3.8 1.48 x 53.2 % 5.632 %
55.01% - 60.00% 22 100,708,884 11.3 10.9 12.3 1.51 x 57.7 % 5.695 %
60.01% - 65.00% 45 239,620,447 26.9 25.7 29.8 1.48 x 63.2 % 5.804 %
65.01% - 70.00% 41 337,063,760 37.8 37.3 39.0 1.44 x 67.2 % 5.679 %
70.01% - 75.00% 4 44,725,985 5.0 6.5 1.1 1.40 x 71.7 % 5.462 %
75.01% - 80.00% 1 20,730,000 2.3 0.0 8.3 1.47 x 76.3 % 5.100 %
140 $ 891,768,535 100.0 % 100.0 % 100.0 % 1.47 x 60.9 % 5.699 %

(1) Calculated with respect to the Anticipated Repayment Date for the ARD Loans.

- The weighted average Maturity Date or ARD LTV Ratio is 60.9%.

The sum of aggregate percentage calculations may not equal 100% due to rounding.

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4
Mortgage Pool Characteristics as of the Cut-Off Date*

ORIGINAL TERM TO MATURITY OR ARD

Range of Original % of % of Weighted Weighted Terms Number of Aggregate % of Cut-Off Date Cut-Off Date Weighted Average Average to Maturity Mortgage Cut-Off Date Cut-Off Date Group 1 Group 2 Average Cut-Off Date Mortgage (months)(1) Loans Balance Pool Balance Balance Balance DSCR LTV Ratio Rate

0 - 60 16 $ 170,600,083 19.1 % 20.9 % 14.5 % 1.48 x 72.3% 5.353%
61 - 84 4 37,762,174 4.2 5.9 0.0 1.44 x 76.3% 5.470%
85 - 108 1 4,278,031 0.5 0.7 0.0 1.42 x 79.7% 5.550%
109 - 120 106 637,741,794 71.5 69.7 76.3 1.47 x 74.0% 5.795%
121 - 156 1 6,900,000 0.8 0.0 2.8 1.40 x 71.9% 5.500%
169 - 180 8 22,233,010 2.5 1.2 5.7 1.39 x 62.0% 5.972%
181 - 192 1 4,585,660 0.5 0.7 0.0 1.15 x 74.0% 5.610%
193 - 204 1 1,988,012 0.2 0.0 0.8 1.23 x 71.0% 5.720%
217 - 228 1 2,804,385 0.3 0.4 0.0 1.25 x 66.8% 6.240%
229 - 240 1 2,875,384 0.3 0.4 0.0 1.32 x 64.4% 6.270%
140 $ 891,768,535 100.0 % 100.0 % 100.0 % 1.47 x 73.4% 5.699%

(1) Calculated with respect to the Anticipated Repayment Date for the ARD Loans.

- The weighted average original term to maturity or ARD is 110 months.

REMAINING TERM TO MATURITY OR ARD

% of % of Weighted Weighted Range of Remaining Number of Aggregate % of Cut-Off Date Cut-Off Date Weighted Average Average Terms Mortgage Cut-Off Date Cut-Off Date Group 1 Group 2 Average Cut-Off Date Mortgage to Maturity (months)(1) Loans Balance Pool Balance Balance Balance DSCR LTV Ratio Rate

0 - 60 16 $ 170,600,083 19.1 % 20.9 % 14.5 % 1.48 x 72.3% 5.353%
61 - 84 5 38,269,789 4.3 6.0 0.0 1.44 x 75.8% 5.506%
85 - 108 1 4,278,031 0.5 0.7 0.0 1.42 x 79.7% 5.550%
109 - 120 105 637,234,180 71.5 69.6 76.3 1.47 x 74.0% 5.793%
121 - 156 1 6,900,000 0.8 0.0 2.8 1.40 x 71.9% 5.500%
169 - 180 8 22,233,010 2.5 1.2 5.7 1.39 x 62.0% 5.972%
181 - 192 1 4,585,660 0.5 0.7 0.0 1.15 x 74.0% 5.610%
193 - 204 1 1,988,012 0.2 0.0 0.8 1.23 x 71.0% 5.720%
217 - 228 1 2,804,385 0.3 0.4 0.0 1.25 x 66.8% 6.240%
229 - 240 1 2,875,384 0.3 0.4 0.0 1.32 x 64.4% 6.270%
140 $ 891,768,535 100.0 % 100.0 % 100.0 % 1.47 x 73.4% 5.699%

(1) Calculated with respect to the Anticipated Repayment Date for the ARD Loans.

- The weighted average remaining term to maturity or ARD is 108 months.

* For purposes of determining the underwritten DSC Ratio of 4 Mortgage Loans (loan numbers 21, 59, 86 and 91), representing 2.6% of the Cut-Off Date Pool Balance (3 Mortgage Loans (loan numbers 59, 86 and 91), representing 1.8% of the Cut-Off Date Group 1 balance, and 1 Mortgage Loan (loan number 21), representing 4.7% of the Cut-Off Date Group 2 Balance), the debt service payments were reduced by amounts available under a letter of credit. See "DESCRIPTION OF THE MORTGAGE POOL - Additional Mortgage Loan Information" in the preliminary prospectus supplement.

The sum of aggregate percentage calculations may not equal 100% due to rounding.

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4

Pool Characteristics

Mortgage Pool Characteristics as of the Cut-Off Date*

SEASONING

% of % of Weighted Weighted Number of Aggregate % of Cut-Off Date Cut-Off Date Weighted Average Average Seasoning Mortgage Cut-Off Date Cut-Off Date Group 1 Group 2 Average Cut-Off Date Mortgage (months) Loans Balance Pool Balance Balance Balance DSCR LTV Ratio Rate

0 - 12 139 $ 891,260,921 99.9 % 99.9 % 100.0 1.47 x 73.4 % 5.698 %
37 - 48 1 507,614 0.1 0.1 0.0 1.49 x 37.6 % 8.200 %
140 $ 891,768,535 100.0 % 100.0 % 100.0 % 1.47 x 73.4 % 5.699 %

- The weighted average seasoning is 2 months.

The sum of aggregate percentage calculations may not equal 100% due to rounding.

NOTES

WACHOVIA ABN AMRO Incorporated [[Image Removed: (NOMURA LOGO)]]

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates Series 2003-C4
Mortgage Pool Characteristics as of the Cut-Off Date*

ORIGINAL AMORTIZATION TERM

% of % of Weighted Weighted Range of Original Number of Aggregate % of Cut-Off Date Cut-Off Date Weighted Average Average Amortization Mortgage Cut-Off Date Cut-Off Date Group 1 Group 2 Average Cut-Off Date Mortgage Terms (months)(1) Loans Balance Pool Balance Balance Balance DSCR LTV Ratio Rate

145 - 180 7 $ 20,916,242 2.3 % 2.0 % 3.1 % 1.37x 60.4% 5.720%
181 - 192 1 4,585,660 0.5 0.7 0.0 1.15x 74.0% 5.610%
193 - 228 3 8,782,338 1.0 1.1 0.8 1.24x 68.1% 6.045%
229 - 264 2 12,829,374 1.4 2.0 0.0 1.30x 67.0% 5.913%
265 - 300 18 74,817,247 8.4 7.8 9.9 1.45x 70.6% 5.854%
301 - 348 2 25,380,678 2.8 4.0 0 1.49x 70.0% 5.844%
349 - 360 107 744,456,996 83.5 82.4 86.2 1.48x 74.3% 5.671%
140 $ 891,768,535 100.0 % 100.0 % 100.0 % 1.47x 73.4% 5.699%

(1) For Mortgage Loans which accrue interest on the basis of actual days elapsed during each calendar month and a 360-day year, the amortization term is the term in which the Mortgage Loan would amortize if interest paid on the basis of a 30-day month and a 360-day year. The actual amortization term would be longer.

- The weighted average original amortization term is 346 months.

REMAINING STATED AMORTIZATION TERM

Range of Remaining % of % of Weighted Weighted Stated Number of Aggregate % of Cut-Off Date Cut-Off Date Weighted Average Average Amortization Terms Mortgage Cut-Off Date Cut-Off Date Group 1 Group 2 Average Cut-Off Date Mortgage (months)(1) Loans Balance Pool Balance Balance Balance DSCR LTV Ratio Rate

145 - 180 7 $ 20,916,242 2.3 % 2.0 % 3.1 % 1.37x 60.4% 5.720%
181 - 192 1 4,585,660 0.5 0.7 0.0 1.15x 74.0% 5.610%
193 - 228 3 8,782,338 1.0 1.1 0.8 1.24x 68.1% 6.045%
229 - 264