Wells Fargo Authorizes Buyback of up to 25 Million Common Shares
San Francisco — June 27, 2006
Wells Fargo & Company’s (NYSE: WFC) Board of Directors today authorized the Company to acquire, from time to time, up to an additional 25 million shares of the Company’s common stock. This authorization will adjust to reflect the two-for-one stock split on the common stock that the Company announced today. The Company may use shares acquired under this authorization to issue common stock for benefit plans, conversion of convertible securities, acquisitions, and for other corporate purposes. The Company has approximately 1.7 billion shares outstanding. Wells Fargo & Company is a diversified financial services company with $492 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,200 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the United States to receive the highest possible credit rating, “Aaa,” from Moody’s Investors Service.