Wells Fargo Awarded Best Consumer Internet Bank in the World by Global Finance Magazine; Wells Fargo Recognized as Best-in-Class for Online Banking and Bill Payment & Presentment

Business Wire, Oct 27, 2004

SAN FRANCISCO -- As the consumer Web celebrates its 10th anniversary this month, Wells Fargo & Company (NYSE:WFC) has just been named Best Consumer Internet Bank in the world. The bank also received awards for:

--Best Consumer Online Bill Payment & Presentment in the world and North America

--Best Consumer Internet Bank in the U.S. and North America

--Best Consumer Online Credit in North America

--Best Corporate/Institutional Web Site Design in North America

"As the first financial institution to launch Internet banking in May 1995, Wells Fargo is thrilled to be recognized for our continuing leadership in internet banking, particularly as the consumer Web turns 10-years-old this month," said Avid Modjtabai, executive vice president, Wells Fargo Internet Services. "Our focus continues to be on leveraging technology to provide information to customer when, where and how they want."

Global Finance recognized Wells Fargo's consumer offering as #1 as part of its "World's Best Internet Banks" survey that will be published in the December 2004 issue. Winners were chosen among entries by a world-class judging panel of representatives from Bearing Point, Deloitte & Touche, Logica, Neoris and Tata Infotech. The magazine's editors selected the final winners divided globally and in six regions and 27 countries.

Wells Fargo has nearly 6 million consumers actively banking online, and half of the company's checking accounts are now accessed online. More than 2 million consumers use Wells Fargo's bill pay and presentment services, and more than half a million small businesses are banking online with Wells Fargo. In addition, Wells Fargo has more than 100,000 active users of the company's Commercial Electronic Office, the online portal that provides a single point of entry for all commercial banking services and offers corporations and middle-market businesses an easy way to address all of their banking needs. That's a 40 percent increase over a year ago.

"The next generation of online banking from Wells Fargo primarily focuses not only on what but on how we deliver information to customers," said Danny Peltz, executive vice president of Wells Fargo's Wholesale Internet and Treasury Solutions group. "It's giving our business customers the information when, where and how they need it to do their job effectively and efficiently."

About Wells Fargo

Wells Fargo & Company is a diversified financial services company with $422 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,000 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only "Aaa"- rated bank in the United States.