Wells Fargo Advantage Closed-End Funds Declare Monthly Dividends

Fri Dec 28, 2012 4:36pm EST

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SAN FRANCISCO--(Business Wire)--
The Wells Fargo Advantage Income Opportunities Fund (NYSE MKT: EAD), the Wells
Fargo Advantage Multi-Sector Income Fund (NYSE MKT: ERC) and the Wells Fargo
Advantage Utilities and High Income Fund (NYSE MKT: ERH) each announced today
its dividend declaration. 

The Wells Fargo Advantage Income Opportunities Fund is a closed-end high-yield
bond fund. The fund`s investment objective is to seek a high level of current
income. The fund may, as a secondary objective, seek capital appreciation to the
extent it is consistent with its investment objective. 

The Wells Fargo Advantage Income Opportunities Fund declared the following
monthly dividend:

 Declaration date     Ex-dividend date    Record date         Payable date        Dividend/share  
 December 28, 2012    January 11, 2013    January 15, 2013    February 1, 2013    $0.077/share    
                                                                                                  


The Wells Fargo Advantage Multi-Sector Income Fund is a closed-end bond fund.
The fund`s primary investment objective is to seek a high level of current
income consistent with limiting its overall exposure to domestic interest-rate
risk. 

The Wells Fargo Advantage Multi-Sector Income Fund declared the following
monthly dividend:

 Declaration date     Ex-dividend date    Record date         Payable date        Dividend/share  
 December 28, 2012    January 11, 2013    January 15, 2013    February 1, 2013    $0.10/share     
                                                                                                  


The Wells Fargo Advantage Utilities and High Income Fund is a closed-end equity
and high-yield bond fund. The fund`s primary investment objective is to seek a
high level of current income and moderate capital growth, with an emphasis on
providing tax-advantaged dividend income. 

The Wells Fargo Advantage Utilities and High Income Fund declared the following
monthly dividend:

 Declaration date     Ex-dividend date    Record date         Payable date        Dividend/share  
 December 28, 2012    January 11, 2013    January 15, 2013    February 1, 2013    $0.075/share    
                                                                                                  


These closed-end funds are no longer offered as an initial public offering, and
shares are only offered through broker/dealers on the secondary market. Unlike
an open-end mutual fund, a closed-end fund offers a fixed number of shares for
sale. After the initial public offering, shares are bought and sold in the
secondary marketplace, and the market price of the shares is determined by
supply and demand, not by net asset value (NAV), and is often lower than the
NAV. A closed-end fund is not required to buy its shares back from investors
upon request. 

Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo &
Company, 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 open-end funds are distributed
by Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an affiliate of Wells
Fargo & Company. For more information on Wells Fargo Advantage Funds, please
visit wellsfargoadvantagefunds.com. 

Some of the information contained herein may include forward-looking statements
about the expected investment activities of the funds. These statements provide
no assurance as to the funds` actual investment activities or results. The
reader must make his/her own assessment of the information contained herein and
consider such other factors as he/she may deem relevant to his/her individual
circumstances.

214007 12-12 

NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

Wells Fargo Funds Management, LLC
Shareholder inquiries:
1-800-730-6001
Financial advisor inquiries:
1-888-877-9275
Media contact:
John Roehm, 415-222-5338
john.o.roehm@wellsfargo.com

Copyright Business Wire 2012
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