Wells Fargo Advantage Funds(R) Announces Completion of 15 Fund Mergers

SAN FRANCISCO--(Business Wire)--
Wells Fargo Funds Management, LLC, announced today that mergers of
15 Wells Fargo Advantage Funds were completed at the close of business
on July 18, 2008.

"Streamlining our roster of funds makes sense for our
shareholders," said Karla Rabusch, president of Wells Fargo Advantage
Funds. "In each case, we have combined Funds with similar investment
objectives to eliminate product overlap, while at the same time making
our fund family lineup easier for clients to navigate."

The Wells Fargo Advantage Funds Board of Trustees approved the
fund mergers in November 2007. The fund reorganizations were announced
to shareholders in December 2007 and, when necessary, approved by fund
shareholders during the second quarter of 2008.

The following list of former Funds have now been integrated into
the surviving Funds, effective July 18, 2008. With one exception, the
names of the surviving Funds have not changed as a result of the
mergers.

-0-
*T
Former Fund Surviving Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage Balanced Fund Wells Fargo Advantage Asset
Allocation Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage Corporate Wells Fargo Advantage Income Plus
Bond Fund Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage High Yield Wells Fargo Advantage High Income
Bond Fund Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage Intermediate Wells Fargo Advantage Government
Government Income Fund Securities Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage Life Stage- Wells Fargo Advantage Moderate
Conservative Portfolio(SM) Balanced Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage Life Stage- Wells Fargo Advantage Growth
Moderate Portfolio(SM) Balanced Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage Life Stage- Wells Fargo Advantage Aggressive
Aggressive Portfolio(SM) Allocation Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage National Wells Fargo Advantage Short-Term
Limited Tax-Free Fund Municipal Bond Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage National Tax- Wells Fargo Advantage Municipal
Free Fund Bond Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage Overseas Fund Wells Fargo Advantage
International Equity Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage Value Fund Wells Fargo Advantage C&B Large
Cap Value Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage Endeavor Wells Fargo Advantage Capital
Large Cap Fund(SM) Growth Fund
----------------------------------- ----------------------------------
Wells Fargo Advantage Equity Index Wells Fargo Advantage Index Fund
Fund
----------------------------------- ----------------------------------
(former) Wells Fargo Advantage (New) Wells Fargo Advantage Large
Large Company Core Fund Company Core Fund (1)
----------------------------------- ----------------------------------
Wells Fargo Advantage Ultra-Short Wells Fargo Advantage Ultra Short-
Duration Bond Fund Term Income Fund
----------------------------------- ----------------------------------
(1) The former Wells Fargo Advantage Growth and Income Fund, an
acquiring Fund, was renamed the Wells Fargo Advantage Large Company
Core Fund at the close of business on July, 18, 2008
*T

Mutual fund investing involves risks, including the possible loss
of principal. Consult a Fund's prospectus for additional information
on risks.

Carefully consider a fund's investment objectives, risks, charges,
and expenses before investing. For a current prospectus, containing
this and other information, call 1-800-222-8222 or visit
www.wellsfargo.com/advantagefunds. Read it carefully before investing.

Wells Fargo Funds Management, LLC, a wholly owned subsidiary of
Wells Fargo & Company, offers investment solutions for individual and
institutional investors. Through its Wells Fargo Advantage Funds, the
firm offers over 100 funds across a wide range of asset classes
representing more than $149 billion in assets under management, as of
6-30-08. Wells Fargo Funds Management, LLC provides investment
advisory and administrative services for Wells Fargo Advantage Funds.
Other affiliates of Wells Fargo & Company provide subadvisory and
other services for the Funds. The Funds are distributed by Wells Fargo
Funds Distributor, LLC, Member FINRA/SIPC, an affiliate of Wells Fargo
& Company. 106342 07-08

NOT FDIC INSURED -- NO BANK GUARANTEE -- MAY LOSE VALUE

Wells Fargo Advantage Funds
Pete Greenley, 415-222-1287

Copyright Business Wire 2008