Wells Fargo Signs Agreement with AMA to Provide Financing, Leasing Services to AMA Member Physicians

DES MOINES, IOWA - June 3, 2010

Two Wells Fargo & Company (NYSE: WFC) business units have signed an agreement to become the preferred providers of medical practice and equipment financing for American Medical Association (AMA) physician members.

Matsco – Wells Fargo’s practice finance group based in Emeryville, Calif. – and Wells Fargo Financial Leasing, Inc. based in Des Moines, Iowa, will offer a range of financial products to AMA members, including practice acquisition, start-up and expansion, and commercial real estate and medical equipment leasing.

“Wells Fargo looks forward to supporting AMA-member physicians in ways that will enable them to focus on patients while the financial resources and tools we offer assist them in building and managing their practices,” said Dave Kvamme, president & CEO of Wells Fargo Financial.

“Through this new agreement, the AMA will be able to offer physicians high-quality service, education, and guidance for the financing issues they face in their practices,” said AMA Board Chair Rebecca J. Patchin, M.D. “We are pleased to be working with Wells Fargo to offer our members this useful financial service.”

Matsco provides financial and planning resources to help physicians transition to ownership and grow their practices. Matsco brings more than 20 years of experience in health care financing to the AMA relationship and currently has affinity relationships with the American Dental Association and the American Animal Hospital Association.

Wells Fargo Financial Leasing, which has 33 years in the equipment leasing industry, has a dedicated team of professionals focused on medical equipment leasing for physicians. The company has expertise in a wide variety of financing programs that help physicians acquire medical equipment as well as programs for manufacturers, distributors and hospitals.

Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores and 12,000 ATMs and the internet (wellsfargo.com and wachovia.com) across North America and internationally.

The American Medical Association helps doctors help patients by uniting physicians nationwide to work on the most important professional and public health issues. Working together, the AMA's physician and medical student members are playing an active role in shaping the future of medicine. For more information on the AMA, please visit www.ama-assn.org and follow on Twitter at: https://twitter.com/AmerMedicalAssn.