Wells Fargo & Company Announces $6 Billion Common Stock Offering

SAN FRANCISCO--()--Wells Fargo & Company (NYSE:WFC) announced today a proposed offering of $6 billion of common stock to the public.

J.P. Morgan Securities Inc. is acting with Wachovia Securities as joint bookrunning managers for the offering.

Wells Fargo has an existing shelf registration statement on file with the Securities and Exchange Commission (SEC) and will file a prospectus supplement related to this offering. Prospective investors should read the registration statement (including the base prospectus), the prospectus supplement and other documents Wells Fargo has filed with the SEC for more complete information about Wells Fargo and the offering. Investors may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Wells Fargo, any underwriter or any dealer participating in the offering will arrange to send investors the prospectus if requested by contacting J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Department, 718-242-8002.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This news release contains statements that do not directly or exclusively relate to historical facts. These types of statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements rely on assumptions and are subject to risks, uncertainties and other factors that could cause Wells Fargo’s actual results to differ materially from expectations. You should read and interpret any forward-looking statements together with the risk factors contained under the caption “Risk Factors” in the prospectus supplement for the offering to which this release relates and Wells Fargo’s other SEC filings. Any forward-looking statement speaks only as of the date on which that statement is made. Wells Fargo will not update any forward looking statement to reflect events or circumstances that occur after the date on which the statement is made.

CONFERENCE CALL INFORMATION

Wells Fargo will host a conference call Thursday, May 7, 2009, at 2:30 p.m. (Pacific Time) / 5:30 p.m. (Eastern Time) to discuss details of the offering. It is highly recommended for all parties to dial into the conference line at least 15 minutes prior to the start of the call. Investors can call (888) 744-3655 (US/Canada) or (706) 643-1962 (International) with the Conference ID #99183364, or listen via live audio webcast. The live audio webcast will be available at http://event.meetingstream.com/r.htm?e=146294&s=1&k=2A197319E09D5432D029195030655CD5 and presentation visuals will be available at https://www.wellsfargo.com/invest_relations/equity_offering.

Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,400 stores, over 12,000 ATMs and the internet across North America and internationally.

Contacts

Wells Fargo & Company
Media
Janis Smith, 415-396-7711
Julia Tunis Bernard, 415-222-3858
or
Investors
Bob Strickland, 415-396-0523
Jim Rowe, 415-396-8216

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Contacts

Wells Fargo & Company
Media
Janis Smith, 415-396-7711
Julia Tunis Bernard, 415-222-3858
or
Investors
Bob Strickland, 415-396-0523
Jim Rowe, 415-396-8216