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Wells Fargo Securities Expands Public Finance Leadership Team in New York

NEW YORK - October 1, 2012

Wells Fargo Securities, the investment banking and capital markets business of Wells Fargo (NYSE:WFC), announced the addition of two industry veterans as part of an expansion of the public finance leadership team, based in New York. Sally Bednar joins Wells Fargo as a managing director, head of Higher Education and co-head of the Education and Nonprofit group, and Rick Molke joins as a managing director and co-head of the Energy and Corporate group.

“As we expand the Wells Fargo Securities Public Finance Investment Banking team, we continue to recruit seasoned individuals with the industry knowledge and expertise that our clients expect,” said Peter J. Hill, head of Wells Fargo Securities Public Finance Investment Banking. “With more than 50 combined years successfully executing capital markets financings, Sally and Rick can help us serve as a trusted banker for our clients and prospects.”

As the new head of Higher Education, Bednar will co-head the Education and Nonprofit banking group for Wells Fargo Securities Public Finance Investment Banking team with Rick Chisholm. She has more than 18 years of banking experience, primarily in public finance in the higher education sector. Previously, she served as co-head of Morgan Stanley’s Higher Education group. Bednar earned a bachelor’s degree from the University of California, Santa Barbara and a master’s of business administration from New York University. She maintains a California C.P.A. license and Series 7, 53, and 79 securities registrations.

Molke joins Wells Fargo as a managing director and co-head of the Public Finance Energy and Corporate group, working alongside veteran managing director and co-head, Adam Woodard. With more than 35 years of experience in public finance, Molke most recently served as co-head of the Public Power Group at Morgan Stanley. Previously, he served as head of the Public Power Group at Bear Stearns and Merrill Lynch. Molke holds a bachelor’s degree from Brown University and a master’s of business administration from Harvard Business School.

“Rick’s deep roots in public finance further strengthen our team serving the energy and corporate sectors,” said Woodard. “He is a powerful addition to our group.”

As part of the Wells Fargo Securities Municipal Products Group, and with 160 associates in 20 offices, the Public Finance Investment Banking teams provide capital markets products and underwriting, structuring and assistance services to government and institutional customers throughout the U.S. As of September, the Wells Fargo Securities Municipal Products Group ranks among the top 10 underwriters of municipal securities in the U.S., according to Securities Data Corp.

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 (, and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With approximately 265,000 full-time equivalent team members, Wells Fargo serves one in three households in United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

About Wells Fargo Securities
Wells Fargo Securities delivers a comprehensive set of capital markets products and services to customers, including originating and distributing public debt and equity, hedging interest rates, commodity and equity risks, advising on mergers and acquisitions, and originating structured lending facilities and municipal bonds. The institutional capital markets business is comprised of more than 3,400 team members in 40-plus offices across the United States, Europe and Asia. Wells Fargo Securities is the trade name for certain capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Securities, LLC, member FINRA and SIPC, Wells Fargo Bank, National Association, Wells Fargo Securities International Limited (authorized by the U.K. FSA), Wells Fargo Securities Asia Limited (licensed by the HK SFC), and Wells Fargo Securities (Japan) Co., Ltd. (registered with the KLFB).

Dana C. Obrist