<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )
US Lec Corporation
------------------
(Name of Issuer)
Common
------
(Title of Class of Securities)
90331S109
---------
(CUSIP Number)
December 31, 1999
-----------------
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[x] Rule 13d-1(b)
[ ] Rule 13d(c)
[ ] Rule 13d-1(d)
<PAGE> 2
CUSIP No. 90331S109 Page 2 of 7
(1) Names of Reporting Persons SS or IRS Identification Nos. of Above
Persons
a. Wachovia Corporation 56-1473727
b. Wachovia Bank, National Association 56-0927594
(2) Check the Appropriate Box if a Member of a Group (see Instructions)
a. [ ]
b. [ ]
(3) SEC USE ONLY
(4) Citizenship or Place of Organization
a. Wachovia Corporation North Carolina
b. Wachovia Bank, National Association United States
<TABLE>
<S> <C> <C> <C> <C>
Number of shares (5) Sole Voting Power 872,652
Beneficially
Owned by Each (6) Shared Voting Power 0
Reporting Person
With (7) Sole Dispositive Power 872,652
(8) Shared Dispositive Power 0
(9) Aggregate amount Beneficially Owned by Each Reporting Person 872,652
(10) Check if Aggregate Amount in Row 9 Excludes Certain Shares
(see Instructions) [ ]
(11) Percent of Class Represented by Amount in Row 9 8.42%
(12) Type of Reporting Persons (see Instructions)
a. Wachovia Corporation HC
b. Wachovia Bank, National Association BK
</TABLE>
<PAGE> 3
CUSIP No. 90331S109 Page 3 of 7
ITEM 1 (a) NAME OF ISSUER:
US Lec Corp
ITEM 1 (b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
401 North Tryon Street
Suite 1000
Charlotte, North Carolina 28202
ITEM 2 (a) NAME OF PERSONS FILING:
Wachovia Corporation; and Wachovia Bank, National Association
ITEM 2 (b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
Wachovia Corporation
100 North Main Street
Winston-Salem, North Carolina 27104
Wachovia Bank, National Association
100 North Main Street
Winston-Salem, North Carolina 27104
ITEM 2 (c) CITIZENSHIP:
Wachovia Corporation North Carolina
Wachovia Bank, National Association United States
ITEM 2 (d) TITLE OF CLASS OF SECURITIES:
Common
ITEM 2 (e) CUSIP NUMBER:
90331S109
<PAGE> 4
CUSIP No. 90331S109 Page 4 of 7
ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1 (B), OR 13D-3 (B)
CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or Dealer registered under Section 15 of the
Act,
(b) [X] Bank as defined in Section 3 (a) (6) of the Act,
(c) [ ] Insurance Company as defined in Section 3 (a) (19) of
the Act,
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act,
(e) [ ] Investment Advisor registered under Section 203 of the
Investment Advisor Act of 1940,
(f) [ ] Employee Benefit Plan Pension Fund which is subject to
the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund.
(g) [x] Parent holding Company, in accordance with 240.13d-1
(b) (ii) (G), (Wachovia Corporation)
(h) [ ] Group, in accordance with Rule 13d-1 (b) (1) (ii) (H)
<TABLE>
<CAPTION>
ITEM 4 OWNERSHIP:
<S> <C> <C> <C>
The following information is as of December 31, 1999:
(a) Amount Beneficially Owned: 872,652
(b) Percent of Class: 8.42%
(c) Number of Shares as to which such person has:
(i) Sole power to vote or to direct the vote 872,652
(ii) Shared power to vote or to direct the vote 0
(iii) Sole power to dispose or to direct the disposition of 872,652
(iv) Shared power to dispose or to direct the disposition of 0
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
N/A
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
N/A
</TABLE>
<PAGE> 5
CUSIP No. 90331S109 Page 5 of 7
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
Included are the following subsidiaries of Wachovia Corporation - HC:
Wachovia Bank, National Association - BK (wholly owned subsidiary of
Wachovia Corporation)
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
N/A
ITEM 9 NOTICE OF DISSOLUTION OF GROUP.
N/A
<PAGE> 6
CUSIP No. 90331S109 Page 6 of 7
ITEM 10 CERTIFICATION:
By signing below, I certify that, to the best of my
knowledge and belief, the securities referred to above were not
acquired for the purpose of and do not have the effect of changing
or influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in any
transaction having such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 10, 2000
For: WACHOVIA CORPORATION
By: /s/ William M. Watson, Jr.
-----------------------------------
William M. Watson, Jr.
Senior Vice President, Counsel and Secretary
For: WACHOVIA BANK, NATIONAL ASSOCIATION
By: /s/ William M. Watson, Jr.
----------------------------------
William M. Watson, Jr.
Senior Vice President, Counsel and Secretary
SEE AGREEMENT ATTACHED AS EXHIBIT A
<PAGE> 7
CUSIP No. 90331S109 Page 7 of 7
EXHIBIT A
AGREEMENT
February 10, 2000
The understanding hereby agree to file a joint statement on
Schedule 13G under the securities Exchange Act of 1934, as amended
(the "Act") in connection with their beneficial ownership of common
stock issued by Wachovia Corporation.
Each of the undersigned states that it is entitled to
individually use Schedule 13G pursuant to Rule 13d-1 (c) of the Act.
Each of the undersigned is responsible for the timely filling
of the statement and any amendments thereto, and for the completeness
of the statement and any amendments thereto, and for the completeness
and accuracy of the information concerning each of them contained
therein but none is responsible for the completeness of accuracy of
the information concerning the others.
This agreement applies to any amendments to Schedule 13G.
Wachovia Corporation
/s/ William M. Watson, Jr.
--------------------------------------------
William M. Watson, Jr.
Senior Vice President, Counsel and Secretary
Wachovia Bank, National Association
/s/ William M. Watson, Jr.
--------------------------------------------
William M. Watson, Jr.
Senior Vice President, Counsel and Secretary
