Wells Fargo Affirms Affidavit Accuracy

Confirms no foreclosure moratorium

DES MOINES, Iowa - October 12, 2010

Wells Fargo & Company (NYSE: WFC) – In response to media inquiries we recently received, we are confirming that Wells Fargo has no plans to initiate a foreclosure moratorium. Our affidavit procedures and daily auditing demonstrate that our foreclosure affidavits are accurate.

As always, as a standard business practice, we continually review and reinforce our policies and procedures. This includes conducting additional reviews before loans go to foreclosure sale. If we find an error or if an improvement is needed, we take action. We are satisfied that our foreclosure affidavit process is sound.

About Wells Fargo
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 #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.