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Wells Fargo Continues Growth in Northwest by Acquiring the Assets of Char Clark Associates, Inc.

CHICAGO-(Business Wire)-September 3, 2008 - Wells Fargo Insurance Services, Inc. – America’s largest bank-owned insurance brokerage and a subsidiary of Wells Fargo & Company (NYSE:WFC) – announced today that it has acquired the assets of Spokane, Washington’s Char Clark Associates, Inc. The acquisition adds to Wells Fargo’s diversified presence in Washington State – now a total of 4,300 team members across the region, serving customers from 147 banking stores and 5 insurance brokerage offices.

Founded 24 years ago, Char Clark Associates provides group and individual health, life, disability, dental and vision coverages - focusing on the employee and executive benefit needs of customers ranging in size from one to several hundred employees.

Company shareholder Charlaine “Char” Clark and her team will transition operations into the Wells Fargo Insurance Services office in Spokane, WA. Terms of the transaction were not disclosed.

“We are excited to offer expanded resources, services and support to Char Clark & Associates’ customers,” said Mark Neupert, managing director of Wells Fargo Insurance Services’ Spokane office. “Char is well known and highly respected in the local business community and in our broader marketplace and she and her team will be a tremendous addition to our growing operations here in Eastern Washington and across the entire Pacific Northwest.”

“We’re delighted to join such a well respected organization that lets us broaden and enhance the products, services and solutions we deliver to our customers,” said Char Clark. “Our customers will receive the same great service from the same committed professionals, and they’ll now have access to a wider range of resources and services to help them succeed financially.”

“We’ve grown to become one of America’s largest insurance brokerage companies by combining our national resources with great local agencies like Char Clark Associates, Inc.,” said Dave Zuercher, president, chairman and CEO of Wells Fargo Insurance Services. “We’ll continue to look for agency acquisitions that advance and strengthen our vision, values and geographic interests across the country.”

Wells Fargo Insurance Services, Inc. is the fifth-largest insurance brokerage and the largest bank-owned insurance brokerage in the United States, with 171 offices in 37 states. Its 7,200 insurance professionals place $11.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines and life products. For more information about Wells Fargo Insurance Services, visit www.wellsfargo.com/wfis.

Wells Fargo & Company is a diversified financial services company with $609 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest possible credit rating from both Moody’s Investors Service, “Aaa,” and Standard & Poor’s Ratings Services, “AAA.”

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