Month-End Performance

Fixed Allocation Portfolios	CUSIP	Year To Date (YTD) Total Returns and Average Annual Total Returns Net Expenses as of 07-31-2010 (in %)						Expense Ratios¹
Fixed Allocation Portfolios	CUSIP	YTD*	1 Yr	3 Yr	5 Yr	10 Yr	Life	Gross %	Net %²
Legg Mason Aggressive Inception: 12-15-03	281654582	2.52	25.50	-8.45	-1.61	--	1.95	1.19	1.09
Vanguard Stock Index Inception: 05-14-01	281654103	-0.30	13.42	-7.04	-0.46	--	-0.03	0.45	0.35
Wells Fargo Aggressive Inception: 05-14-01	281654509	0.59	14.48	-4.68	1.50	--	2.02	1.39	1.29
Wells Fargo Moderate Inception: 05-14-01	281654889	1.77	13.33	-1.72	2.66	--	3.11	1.05	0.95
Vanguard Balanced Inception: 12-15-03	281654590	1.85	11.88	-0.09	4.29	--	5.55	0.63	0.53
Wells Fargo Balanced Inception: 05-14-01	281654848	2.96	12.36	1.17	3.79	--	3.93	0.96	0.86
Wells Fargo Conservative Inception: 10-01-08	281654483	4.11	10.58	--	--	--	10.01	0.88	0.78
Wells Fargo Bond Inception: 05-14-01	281654798	5.90	8.78	7.52	5.88	--	4.95	0.77	0.67
Baird Bond Inception: 12-15-03	281654616	7.06	11.71	5.98	4.98	--	4.79	0.71	0.61
Wells Fargo Money Market³ Inception: 12-02-02	281654756	0.01	0.02	1.64	2.41	--	2.33	0.45	0.40
Bank CD Inception: 10-01-08	281654533	0.21	0.45	--	--	--	0.90	0.35	0.30
Credit Union CD Inception: 10-01-08	281654541	0.18	0.38	--	--	--	0.87	0.35	0.30

Figures quoted represent past performance, which is no guarantee of future results. Investment return, principal value, and yields of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

Investor Class portfolios are sold without a front-end sales charge or contingent deferred sales charge.

*Returns for periods of less than one year are not annualized.

Performance information is for the No-Load shares. Please consult the program description for information about all share classes.

Fixed Allocation Portfolios	CUSIP		Year To Date (YTD) Total Returns and Average Annual Total Returns Net Expenses as of 07-31-2010 (in %)						Expense Ratios¹
Fixed Allocation Portfolios	CUSIP		YTD*	1 Yr	3 Yr	5 Yr	10 Yr	Life	Gross %	Net %²
Legg Mason Aggressive Inception: 12-15-03	281654640	NAV	2.39	25.31	-8.70	-1.88	--	1.64	1.44	1.34

		POP		18.13	-10.48	-3.04	--	0.74
Vanguard Stock Index Inception: 05-14-01	281654202	NAV	-0.41	13.22	-7.24	-0.73	--	-0.35	0.70	0.60
Vanguard Stock Index Inception: 05-14-01	281654202	POP		6.73	-9.06	-1.89	--	-0.99
Wells Fargo Aggressive Inception: 05-14-01	281654608	NAV	0.43	14.19	-4.93	1.23	--	1.69	1.39	1.29

		POP		7.66	-6.79	0.03	--	1.04
Wells Fargo Moderate Inception: 05-14-01	281654871	NAV	1.58	13.09	-1.97	2.38	--	2.78	1.30	1.20
Wells Fargo Moderate Inception: 05-14-01	281654871	POP		6.63	-3.87	1.17	--	2.12
Vanguard Balanced Inception: 12-15-03	281654673	NAV	1.67	11.62	-0.35	3.99	--	5.22	0.88	0.78

		POP		5.18	-2.29	2.77	--	4.29
Wells Fargo Balanced Inception: 05-14-01	281654830	NAV	2.83	12.09	0.93	3.51	--	3.57	1.21	1.11
Wells Fargo Balanced Inception: 05-14-01	281654830	POP		5.66	-1.04	2.29	--	2.90
Wells Fargo Conservative Inception: 10-01-08	281654525	NAV	3.94	10.33	--	--	--	9.75	1.13	1.03

		POP		5.33	--	--	--	7.04
Wells Fargo Bond Inception: 05-14-01	281654780	NAV	5.75	8.50	7.21	5.59	--	4.55	1.02	0.92
Wells Fargo Bond Inception: 05-14-01	281654780	POP		3.65	5.57	4.35	--	3.88
Baird Bond Inception: 12-15-03	281654715	NAV	6.87	11.50	5.73	4.69	--	4.49	0.95	0.85

		POP		6.44	4.13	3.46	--	3.56
Wells Fargo Money Market³ Inception: 12-02-02	281654749	NAV	0.01	0.01	1.48	2.18	--	2.06	0.70	0.65
Wells Fargo Money Market³ Inception: 12-02-02	281654749	POP		--	--	--	--	--

Public offering price (POP) shows the performance of the portfolio including any sales charges. Net asset value (NAV) shows the performance of the portfolio excluding any sales charges.

Figures quoted represent past performance, which is no guarantee of future results. Investment return, principal value, and yields of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted.

For Class A shares, the maximum sales charge is 5.75% for the growth and balanced Portfolios, and 4.50% for the fixed income and conservative Portfolios. Effective 12/1/2009 the 2.00% sales charge for Class A shares of the Money Market Portfolio has been eliminated.

*Returns for periods of less than one year are not annualized and do not include the effect of sales charges.

Fixed Allocation Portfolios	CUSIP		Year To Date (YTD) Total Returns and Average Annual Total Returns Net Expenses as of 07-31-2010 (in %)						Expense Ratios¹
Fixed Allocation Portfolios	CUSIP		YTD*	1 Yr	3 Yr	5 Yr	10 Yr	Life	Gross %	Net %²
Legg Mason Aggressive Inception: 12-15-03	281654632	NAV	1.91	24.24	-9.35	-2.55	--	0.97	2.14	2.04

		POP		23.74	-9.55	-2.66	--	0.97
Vanguard Stock Index Inception: 05-14-01	281654301	NAV	-0.86	12.50	-7.90	-1.40	--	-0.82	1.40	1.30
Vanguard Stock Index Inception: 05-14-01	281654301	POP		12.00	-8.10	-1.51	--	-0.82
Wells Fargo Aggressive Inception: 05-14-01	281654707	NAV	0.00	13.39	-5.63	0.52	--	1.15	2.09	1.99

		POP		12.89	-5.82	0.42	--	1.15
Wells Fargo Moderate Inception: 05-14-01	281654863	NAV	1.17	12.31	-2.70	1.66	--	2.21	2.00	1.90
Wells Fargo Moderate Inception: 05-14-01	281654863	POP		11.81	-2.88	1.57	--	2.21
Vanguard Balanced Inception: 12-15-03	281654665	NAV	1.28	10.89	-1.04	3.29	--	4.56	1.58	1.48

		POP		10.39	-1.21	3.20	--	4.56
Wells Fargo Balanced Inception: 05-14-01	281654822	NAV	2.44	11.36	0.21	2.80	--	3.01	1.91	1.81
Wells Fargo Balanced Inception: 05-14-01	281654822	POP		10.86	0.04	2.71	--	3.01
Wells Fargo Conservative Inception: 10-01-08	281654517	NAV	3.45	9.54	--	--	--	8.99	1.83	1.73

		POP		9.04	--	--	--	8.74
Wells Fargo Bond Inception: 05-14-01	281654772	NAV	5.25	7.72	6.47	4.88	--	4.01	1.72	1.62
Wells Fargo Bond Inception: 05-14-01	281654772	POP		7.22	6.32	4.80	--	4.01
Baird Bond Inception: 12-15-03	281654699	NAV	6.40	10.63	4.96	3.98	--	3.79	1.65	1.55

		POP		10.13	4.81	3.90	--	3.79
Wells Fargo Money Market³ Inception: 12-02-02	281654731	NAV	0.01	0.01	1.10	1.69	--	1.58	1.40	1.35
Wells Fargo Money Market³ Inception: 12-02-02	281654731	POP		-0.49	0.93	1.60	--	1.58

Public offering price (POP) shows the performance of the portfolio including any sales charges. Net asset value (NAV) shows the performance of the portfolio excluding any sales charges.

Figures quoted represent past performance, which is no guarantee of future results. Investment return, principal value, and yields of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted.

For Class B shares, the maximum applicable contingent deferred sales charge is 1.00% in year 1, and is eliminated after year 6.

*Returns for periods of less than one year are not annualized and do not include the effect of sales charges.

Class B shares are closed to new accounts and to additional contributions.

Fixed Allocation Portfolios	CUSIP		Year To Date (YTD) Total Returns and Average Annual Total Returns Net Expenses as of 07-31-2010 (in %)						Expense Ratios¹
Fixed Allocation Portfolios	CUSIP		YTD*	1 Yr	3 Yr	5 Yr	10 Yr	Life	Gross %	Net %²
Legg Mason Aggressive Inception: 12-15-03	281654624	NAV	1.92	24.27	-9.37	-2.61	--	0.88	2.19	2.09

		POP		23.27	-9.37	-2.61	--	0.88
Vanguard Stock Index Inception: 05-14-01	281654400	NAV	-0.86	12.38	-7.93	-1.46	--	-0.94	1.45	1.35
Vanguard Stock Index Inception: 05-14-01	281654400	POP		11.38	-7.93	-1.46	--	-0.94
Wells Fargo Aggressive Inception: 05-14-01	281654806	NAV	0.00	13.35	-5.61	0.48	--	0.99	2.14	2.04

		POP		12.35	-5.61	0.48	--	0.99
Wells Fargo Moderate Inception: 05-14-01	281654855	NAV	1.18	12.22	-2.70	1.62	--	2.03	2.05	1.95
Wells Fargo Moderate Inception: 05-14-01	281654855	POP		11.22	-2.70	1.62	--	2.03
Vanguard Balanced Inception: 12-15-03	281654657	NAV	1.29	10.79	-1.08	3.23	--	4.45	1.63	1.53

		POP		9.79	-1.08	3.23	--	4.45
Wells Fargo Balanced Inception: 05-14-01	281654814	NAV	2.38	11.28	0.18	2.73	--	2.82	1.96	1.86
Wells Fargo Balanced Inception: 05-14-01	281654814	POP		10.28	0.18	2.73	--	2.82
Wells Fargo Conservative Inception: 10-01-08	281654491	NAV	3.45	9.45	--	--	--	8.94	1.88	1.78

		POP		8.45	--	--	--	8.94
Wells Fargo Bond Inception: 05-14-01	281654764	NAV	5.21	7.62	6.43	4.81	--	3.82	1.77	1.67
Wells Fargo Bond Inception: 05-14-01	281654764	POP		6.62	6.43	4.81	--	3.82
Baird Bond Inception: 12-15-03	281654681	NAV	6.43	10.69	4.95	3.92	--	3.72	1.70	1.60

		POP		9.69	4.95	3.92	--	3.72
Wells Fargo Money Market³ Inception: 12-02-02	281654723	NAV	0.01	0.01	1.07	1.63	--	1.48	0.70	0.65
Wells Fargo Money Market³ Inception: 12-02-02	281654723	POP		-0.99	1.07	1.63	--	1.48

Public offering price (POP) shows the performance of the portfolio including any sales charges. Net asset value (NAV) shows the performance of the portfolio excluding any sales charges.

Figures quoted represent past performance, which is no guarantee of future results. Investment return, principal value, and yields of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted.

For Class C shares, the maximum applicable contingent deferred sales charge (CDSC) is 1.00%, and is eliminated after 12 months. Effective 12/1/2009, the CDSC fee for the Wells Fargo Money Market Portfolio has been eliminated on all new shares purchased. Performance shown for the Wells Fargo Money Market Portfolio does not reflect the elimination of this fee.

*Returns for periods of less than one year are not annualized and do not include the effect of sales charges.

Enrollment-Based Tracks
To locate the performance for your Enrollment-Based investment track, identify your portfolio below, then refer to the chart above. For example, if you are invested in the Aggressive Growth Track and your child has 7-9 years before they enter college then you are currently invested in the Wells Fargo Aggressive Portfolio.

Years-to-College	Aggressive Growth Track Portfolios	Moderate Growth Track Portfolios	Conservative Growth Track Portfolios
10 or more	Wells Fargo Aggressive	Wells Fargo Aggressive	Wells Fargo Moderate
7 to 9	Wells Fargo Aggressive	Wells Fargo Moderate	Wells Fargo Balanced
4 to 6	Wells Fargo Moderate	Wells Fargo Balanced	Wells Fargo Conservative
1 to 3	Wells Fargo Conservative	Wells Fargo Conservative	Wells Fargo Bond
In College	Wells Fargo Bond	Wells Fargo Money Market	Wells Fargo Money Market

An investment in the Wells Fargo Money Market Portfolio or the Bank/Credit Union CD Portfolios is not insured or guaranteed by the FDIC, NCUA or any other government agency. Although these Portfolios seek to preserve the value of your investment at $10.00 per share, it is possible to lose money by investing in these Portfolios. CD Portfolio account owners do not have an ownership interest or any other rights as an owner of CDs in which the CD Portfolios invest.

EdVest portfolios may invest in stock and bond investments. Stock investment values fluctuate in response to the activities of individual companies and general market and economic conditions. Bond investment values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. In general, when interest rates rise, bond investment values fall and investors may lose principal value. Consult a program description for additional information on these and other risks. There is no guarantee that an account will grow enough to cover higher education expenses.