WELLS FARGO & COMPANY AUTHORIZES BUYBACK OF UP TO 50 MILLION COMMON SHARES
SAN FRANCISCO — September 24, 2002
Wells Fargo & Company’s (NYSE: WFC) Board of Directors today authorized the Company to acquire, from time to time, up to 50 million shares of the Company’s issued and outstanding common stock.
These shares, to be purchased at market price, are to meet common stock issuance requirements for benefit plans, conversion of convertible securities, acquisitions and other corporate purposes. The Company has 1.7 billion shares outstanding.
Wells Fargo & Company is a diversified financial services company with $315 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from about 5,400 stores and the Internet (wellsfargo.com) across North America and elsewhere internationally.