Wells Fargo Acquires Healthcare Practice Book From Arthur J. Gallagher and Company's Huntersville, North Carolina Office

Market Wire, November, 2007

Wells Fargo Insurance Services, Inc., America's largest bank-owned insurance brokerage and a subsidiary of Wells Fargo & Company, announced its acquisition of the Healthcare Practice book of business of the Huntersville, N.C. office of Arthur J. Gallagher and Company. Gallagher, an international service provider, administers risk management programs, property and casualty insurance coverage and risk control consulting. The acquisition closed on October 22, 2007, and terms of the transaction were not disclosed.

This alignment will provide its customers with a variety of insurance and financial products and services. Through the Wells Fargo partnership, Gallagher's customers will now benefit from expanded healthcare resources, and can grow their businesses because of the financial services now available to them. Pam Kirk, Senior Vice President of Arthur J. Gallagher & Co., and Denise Malmberg, Assistant Vice President of Arthur J. Gallagher & Co., will join Wells Fargo Insurance Services, and will continue to manage their current accounts.

"The acquisition of this book of business continues to strengthen our North Carolina operations. It also further enhances our depth of talent in the Healthcare Risk Management sector, a key focus for growth going forward," said Stephen Smith, Group Benefits Managing Director of Wells Fargo Insurance Services. "We look forward to continuing to serve the needs of these customers and offering them even greater assistance in meeting all of their insurance, risk management and financial needs."

"We've grown to become one of America's largest brokerage companies by combining our national resources with great local agencies like Arthur J. Gallagher and Co.," said Dave Zuercher, Chairman, President and Chief Executive Officer of Wells Fargo Insurance Services. "We will continue to look for agency acquisitions that fit our operating philosophy and parent footprint."

About Wells Fargo Insurance Services

Wells Fargo Insurance Services, formerly Acordia, Inc., is the fifth-largest insurance brokerage and the largest bank-owned insurance brokerage in the United States, with more than 150 offices in 38 states. Its 4,500 insurance professionals place more than $11.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines and life products. Wells Fargo acquired Acordia in May of 2001.

Wells Fargo & Company is a diversified financial services company with $549 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 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 credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."

For more information about Wells Fargo Insurance Services, visit www.wellsfargo.com/wfis or call 312.423.2531.

MEDIA Ellen Sievert Director of Communications Wells Fargo Insurance Services 312.423.2531