Wells Fargo Finances 125 Commercial-Scale Solar Photovoltaic Projects

Helps Unlock Value in Renewable Energy Markets
SAN FRANCISCO--(Business Wire)--
Wells Fargo & Company (NYSE: WFC) today announced that it has financed 125
commercial-scale solar photovoltaic (PV) projects since fall 2007. The projects
have 43 megawatts of installed capacity in ten states and can generate enough
solar energy to power the equivalent of 6,000 homes.

"Despite the economic downturn, Wells Fargo continues to invest in solar
projects across the country because these investments help customers secure
reliable, cost-effective power and help businesses access cleaner energy
sources," said Barry Neal, director of Wells Fargo`s Environmental Finance. "We
look forward to helping the industry expand even further."

Wells Fargo has invested in projects hosted by dozens of commercial customers.
Recently, Wells Fargo invested in a 450-kilowatt system, developed, installed
and operated by SunEdison, on a Staples` distribution center in southern
California. The project`s 1,960 solar panels cover most of the building`s
330,000 square foot roof.

"We're able to purchase solar energy generated on our rooftop at a rate below
the cost of electricity from the grid," said Mark Buckley, VP of Environmental
Affairs, Staples, Inc. "This reduces our operating costs and helps the
environment."

Wells Fargo provided $250 million in equity capital to solar PV projects
developed by solar energy providers SunEdison and MMA Renewable Ventures. Using
the power purchase agreement (PPA) model, these installations help companies
avoid up-front capital costs and purchase solar electricity under long-term
predictable pricing at rates equal to, or lower than, retail energy rates.

Alexander Perera, Director of the World Resources Institute's Green Power Market
Development Group, of which both Wells Fargo and Staples are members, said, "We
commend Wells Fargo for their important work, finding innovative solutions and
working together with other companies to help support renewable energy markets."

About Wells Fargo

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 11,000 stores, over 12,000 ATMs and the
internet (wellsfargo.com) across North America and internationally. Wells Fargo
Bank, N.A. has the highest credit rating currently given to U.S. banks by
Moody`s Investors Service, "Aa1," and Standard & Poor`s Ratings Services, "AA+."
Wells Fargo integrates environmental responsibility into its operations,
business practices and culture, is part of the U.S. Environmental Protection
Agency`s Climate Leaders program and is listed on the Carbon Disclosure
Project`s Carbon Disclosure Leadership Index. For more about Wells Fargo`s
environmental achievements: www.wellsfargo.com/environment.

Wells Fargo & Company
Stephanie Rico, 415-396-5804 (Media)

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