Wells Fargo Home Mortgage and ResortQuest International Open Second Mortgage Office in Florida

Business Wire, Sept 17, 2003

Business Editors/Real Estate Writers

FORT MYERS, Fla.--(BUSINESS WIRE)--Sept. 17, 2003

Wells Fargo Home Mortgage and ResortQuest International, Inc. (NYSE:RZT) recently celebrated the grand opening of their second joint venture mortgage office in Florida. The opening of Resort Trust Mortgage, LLC, in Ft. Myers, is the continuation of a joint venture in which Wells Fargo Home Mortgage and ResortQuest offer mortgages and other financial products and services to home and condominium buyers and real estate developers.

The Resort Trust Mortgage office in Ft. Myers is the second office to open in Florida this year, following the opening of the Resort Trust Mortgage office in Destin this June. The new Southwest office is located at 13831 Vector Avenue. Customers can visit the office or call (239) 415-7950 for product and service information.

This office will complement ResortQuest's significant existing real estate sales activity in central, southwest and northwest Florida. The company is actively marketing numerous new real estate projects including Tortuga Inn on Anna Maria Island, Tidewater Beach and Celadon in Panama City, the Portofino in Pensacola, and Bahama Bay in Orlando.

"We are excited about the second office opening in the expansion of this joint venture with Wells Fargo," said Larry Starr, president of ResortQuest Southwest Florida. "With the recent opening of the joint venture office in Northwest Florida and the opening of the Southwest office, we are quickly becoming able to provide more customers with a full range of competitively priced mortgage services. ResortQuest specializes in renting, buying and selling vacation homes and condominiums and through the agreement with Wells Fargo Home Mortgage, our customers will receive combined expertise and broader service."

About Wells Fargo Home Mortgage

Wells Fargo Home Mortgage, Inc., headquartered in Des Moines, Iowa is a leading originator and servicer of residential mortgages. A subsidiary of Wells Fargo & Company (NYSE:WFC), Wells Fargo Home Mortgage serves all 50 states through the leading mortgage network in the country, with a presence in more than 1,800 mortgage and Wells Fargo bank stores and on the Internet. Combined, its retail and wholesale lending operations provided funding for approximately one of every eight homes financed in the United States in 2002.(a)

About ResortQuest International, Inc.

ResortQuest International, Inc. (NYSE:RZT), the first brand name and real-time online booking service, http://www.resortquest.com, in vacation condominium and home rentals and sales, provides a one-stop resource in more than 50 premier resort destinations in the U.S. and Canada. ResortQuest is the nation's leading vacation rental property management company, based on a portfolio of approximately 20,000 vacation rental properties with a combined real estate value estimated in excess of $7 billion.

(a) Based on statistics compiled by Inside Mortgage Finance.