Wells Fargo Announces $2 Billion, 10-Year Lending Goal to African American Business...

Wells Fargo Announces $2 Billion, 10-Year Lending Goal to African American Business Owners

Commemorating the 10-Year Anniversary of Its African American
Business Services Program, Wells Fargo Expands National Lending Goal
SAN FRANCISCO--(Business Wire)--
After reaching its goal to lend $1 billion to African American
business owners by 2010 earlier this year, Wells Fargo (NYSE:WFC) has
announced a goal to lend an additional $1 billion by 2018, expanding
the cumulative goal to $2 billion. The announcement was made as Wells
Fargo celebrates the 10th anniversary of its African American Business
Services program. Through alliances with national and regional
organizations supporting the African American community, Wells Fargo
provides outreach and education to African American business owners,
increasing their access to capital and other financial services.

"Reaching our $1 billion goal two years early is a testament to
the growth and entrepreneurial vision of this important segment of the
U.S. economy," said Brenda Ross-Dulan, senior vice president and
national spokesperson for Wells Fargo's African American Business
Services program. "It also exemplifies Wells Fargo's commitment to
satisfying the financial services needs of African American business
owners nationwide."

As part of the anniversary celebration, Wells Fargo will expand
its relationship with the National Black MBA Association (NBMBAA) by
sponsoring the NBMBAA Entrepreneurial Institute. The Institute, a
daylong session of workshops and panels led by business management
experts, will be held September 17, 2008 in Washington, D.C., at the
start of the NBMBAA 30th Annual Conference and Exposition.

"We're excited to team up with Wells Fargo, a company that shares
our mission to empower visionaries and help them succeed financially,"
said Barbara Thomas, president and CEO of the National Black MBA
Association. "With the launch of the Entrepreneurial Institute, we
continue to support the significant growth of African American
businesses by offering resources for existing business owners, small
business professionals and aspiring entrepreneurs."

For more information about Wells Fargo's African American Business
Services program, visit www.wellsfargo.com/biz/aabs.

For more about the NBMBAA Entrepreneurial Institute and the 30th
Annual Conference in Washington, D.C., visit www.nbmbaa.org.

About Wells Fargo

Wells Fargo & Company is a diversified financial services company
with $609 billion in assets, providing banking, insurance,
investments, mortgage and consumer finance through almost 6,000 stores
and the internet (wellsfargo.com) across North America and elsewhere
internationally. Wells Fargo Bank, N.A. is the only bank in the U.S.,
and one of only two banks worldwide, to have the highest possible
credit rating from both Moody's Investors Service, "Aaa," and Standard
& Poor's Ratings Services, "AAA."

Wells Fargo is America's #1 small business lender in total dollar
volume according to the most recent Community Reinvestment Act data
(2006) and the #1 SBA 7a bank lender in total dollar volume. Wells
Fargo has loaned more than $36 billion to women, African American,
Latino and Asian business owners since 1995. For more information,
speak with a Wells Fargo banker, visit wellsfargo.com/biz or call the
National Business Banking Center at 1-800-CALL-WELLS.

About National Black MBA Association

Established in 1970, the National Black MBA Association (NBMBAA)
is dedicated to creating partnerships that result in increased
intellectual and economic wealth in the black community through its
five channels of engagement: education, career, leadership,
entrepreneurship and lifestyle. With more than 40 chapters, a
6,000-plus membership and more than 400 corporate partners, the NBMBAA
gives its constituents access through programs and services such as
the Annual NBMBAA Conference (the nation's largest, professional,
African-American exposition of its kind), Local Empowerment
Initiatives, etc. To learn more about the NBMBAA, please visit
http://www.nbmbaa.org.

Wells Fargo & Company
Allison Olson, 415-975-6291
allison.olson@wellsfargo.com

Copyright Business Wire 2008