Wells Fargo Capital Finance Agents C$800 Million Facility for Sears Canada

SANTA MONICA, Calif. - October 4, 2010

Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC), today announced that it acted as joint lead arranger and administrative agent on a C$800 million facility for Sears Canada, one of Canada’s largest retailers. The facility will be used for the company's strategic initiatives as well as for working capital and general corporate purposes.

“It has been a pleasure to work with the Retail Finance team at Wells Fargo Capital Finance,” said Dene Rogers, chief executive officer of Sears Canada. “Their understanding and appreciation for the needs of our business has provided financial flexibility that will help Sears Canada to take a significant step forward in a challenging retail environment.”

“It has been a pleasure to work with the Retail Finance team at Wells Fargo Capital Finance,” said Dene Rogers, chief executive officer of Sears Canada. “Their understanding and appreciation for the needs of our business has provided financial flexibility that will help Sears Canada to take a significant step forward in a challenging retail environment.”

“We are extremely proud to be chosen by the management team at Sears Canada as their lender of choice to lead and arrange the new $800 million revolver facility,” said Jim Dore, head of the Retail Finance division at Wells Fargo Capital Finance. “Our commitment to provide retailers throughout the U.S. and Canada with flexible financing solutions has never been stronger”

Wells Fargo Capital Finance, headquartered in Santa Monica, is the trade name for certain asset-based lending, accounts receivable, and purchase order finance services of Wells Fargo & Company and its subsidiaries, and provides traditional asset-based lending, specialized senior secured financing, accounts receivable financing and purchase order financing to companies across the United States and Canada. Dedicated teams within Wells Fargo Capital Finance provide financing solutions for companies in specific industries such as retail, software publishing and high technology, commercial finance, staffing, government contracting, time share development, and others. For more information, visit wellsfargocapitalfinance.com.

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 banking stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.