Wells Fargo Financial Retail Services Brings Strength, Knowledge and Experience in Retail Credit Industry to Gallery Furniture

Business Wire, March 4, 2004

Business Editors

DES MOINES, Iowa--(BUSINESS WIRE)--March 4, 2004

Wells Fargo Financial Retail Services and Gallery Furniture have agreed on the terms of an exclusive private label credit card program that offers flexible payment options to qualifying Gallery Furniture customers.

"Gallery Furniture has a proven track record of outstanding service, which makes for an excellent business relationship between our two companies," stated Brad Anderson, Sr. Vice President, Operations, Wells Fargo Financial Retail Services. "With our combined commitment to the customer, we anticipate growing Gallery Furniture's private label customer base and providing a top-notch program that will be mutually beneficial for many years to come."

This exclusive program includes a dedicated line of credit for Gallery Furniture customers, enabling them to make larger item purchases without tying up other lines of credit or impacting their cash flow. A dedicated line of credit also promotes greater shopping frequency and improved customer satisfaction ratings. With a comprehensive and competitively priced menu of special-terms promotions, Gallery Furniture customers can enjoy lower monthly payments, competitive interest rates, a convenient tool for add-on purchases and the flexibility to "buy today" and "pay tomorrow." Promotions include no interest option plans with and without payments, plus regular and reduced rate terms.

"Wells Fargo Financial Retail Services is a great business partner because they understand the customer is the business and the business is the customer," stated Gallery Furniture owner Jim "Mattress Mack" McIngvale.

Through this business relationship, Wells Fargo Financial Retail Services, with over 40 years experience in the retail credit industry, will provide relationship management and sales support, sales training, client support, integrated technology, and customized marketing materials to Gallery Furniture. Other features of the program include rapid credit decisions and funding, generous credit lines and easy application processing.

Gallery Furniture, located in Houston, Texas, sells more than $150 million in furniture annually. Its owner and co-founder, Jim "Mattress Mack" McIngvale, is known as one of Houston's most well-known philanthropists and community leaders.

Wells Fargo Financial Retail Services, headquartered in Des Moines, Iowa, specializes in providing private label and co-brand credit card programs to retailers nationwide. Its parent, Wells Fargo Financial, headquartered in Des Moines, Iowa, is a $24 billion international financial services company. Founded in 1897, the Company today has more than 16,500 team members.