Wells Fargo & Company Announces Dividend

SAN FRANCISCO - October 26, 2010

Wells Fargo & Company (NYSE: WFC) today announced a quarterly common stock dividend of $0.05 per share. The dividend is payable December 1, 2010, to stockholders of record on November 5, 2010. The Company has approximately 5.2 billion shares outstanding.

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 9,000 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.