Wachovia Preferred Funding Corp. Declares Dividend on Series A Preferred Securities

SAN FRANCISCO - March 1, 2012

Wachovia Preferred Funding Corp. (NYSE: WNAPr) announced today that its board of directors has declared a regular quarterly dividend on its Series A 7.25% preferred securities. The dividend is equal to $0.453125 per Series A security.

The dividend is payable on April 2, 2012 to holders of record as of the close of business on March 15, 2012.

Wachovia Preferred Funding Corp. is an indirect subsidiary of Wells Fargo & Company and is qualified as a real estate investment trust for federal income tax purposes.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 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 other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

Ancel Martinez
(415) 222-3858

Jim Rowe
(415) 396-8216