Wells Fargo Advantage Treasury Plus Money Market Fund – PIVXX

LIPPER INC. TOTAL RETURN RANKINGS – as of 07-31-2010 Lipper U.S. Treasury Money Market Funds

1-year   17 out of 69 3-year   16 out of 67 5-year   14 out of 62 10-year   N/A

Past performance is no guarantee of future results.

AVERAGE ANNUAL TOTAL RETURNS – as of 06-30-2010

		1-year		3-year		5-year		10-year		Since Inception
Treasury Plus Money Market Fund		0.01%		1.07%		2.27%		2.12%		4.06%
Lipper U.S. Treasury Money Market Funds Average		0.01%		0.98%		2.09%		1.98%		--
Figures quoted represent past performance, which is no guarantee of future results. Investment returns and yields will fluctuate. The Fund's yield figures more closely reflect the current earnings of the Fund than the total return figures. Current performance may be lower or higher than the performance data quoted.  Click here for current month-end performance. Money market funds are sold without a front-end sales charge or contingent deferred sales charge. Other fees and expenses apply to an investment in the Fund and are described in the Fund's current prospectus. The adviser has committed to certain fee waivers and/or expense reimbursements. Without these reductions, the Fund's seven-day current yield would have been lower and rankings and ratings may have been lower. These reductions may be discontinued.

CALENDAR YEAR RETURNS

2009		0.01%
2008		1.19%
2007		4.36%
2006		4.37%
2005		2.49%
2004		0.68%
2003		0.53%
2002		1.20%
2001		3.51%
2000		5.66%

Class A shares incepted on July 28, 2003. Performance shown prior to the inception of Class A reflects the performance of the Service Class shares, adjusted to reflect Class A expenses.

ADVISER  |  Wells Fargo Funds Management, LLC

SUB-ADVISER  |  Wells Capital Management Incorporated ("Wells Capital Management")

PORTFOLIO MANAGERS

		David D. Sylvester Mr. Sylvester is an Executive Vice President with Wells Capital Management, sub-advisor to Wells Fargo Advantage Funds. For two decades, he has maintained a steadfast discipline of rigorous credit analysis and attentive capital preservation that has earned both him and our money market funds a distinguished reputation for risk controlled cash management. Mr. Sylvester began his career as a fixed income manager at the National Bank of Detroit in 1974. He joined Norwest Corporation as a fixed income portfolio manager and trader in 1979, later becoming manager of the fixed income institutional group. Norwest subsequently merged with Wells Capital Management. Since 1987, Mr. Sylvester has specialized in short-term investments and the management of money market funds.
		Laurie White Ms. White has been with Wells Fargo & Company and its predecessors in an investment management capacity since 1990. Ms. White joined Wells Capital Management in 1998 as a Managing Director and simultaneously was a Director for Reserve Asset Management at Norwest Investment Management (since 1997) until Wells Capital Management and Norwest Investment Management combined investment management services under the Wells Capital Management name in 1999. Ms. White currently co-manages certain of the Wells Fargo indexed mutual funds, private accounts, and collective trust funds. Ms. White earned her BA in Political Science from Carleton College and her MBA from the University of Minnesota.

OBJECTIVE  |  The Treasury Plus Money Market Fund seeks current income, while preserving capital and liquidity.

PRINCIPAL STRATEGIES  |  We actively manage a portfolio of short-term obligations issued by the U.S. Treasury and repurchase agreements collateralized by U.S. Treasury obligations.

Our security selection is based on several factors, including yield and maturity, while taking into account the Fund’s overall level of liquidity and average maturity.

RISKS  |  An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.

The U.S. Government guarantee applies to certain underlying securities and NOT to shares of the Fund.

TOP HOLDINGS – % of net assets as of 07-31-2010 BARCLAYS CAPITAL INC REPO UST BRCCAP 22, 0.21%, 2010-08-02   19.28% RBS SECURITIES INC REPO UST RBSSEC 23, 0.20%, 2010-08-02   17.50% BNP PARIBAS SECS CORP REPO UST PARSEC 16, 0.20%, 2010-08-02   14.11% HSBC USA INC REPO UST HSBC 9, 0.20%, 2010-08-02   13.93% CREDIT SUISSE SECS USA REPO UST CSFBCO 12, 0.20%, 2010-08-02   9.28% JP MORGAN SECURITIES REPO UST JPMSEC 17, 0.20%, 2010-08-02   9.28% RBC CAPITAL MARKETS REPO UST RBCDS 1, 0.20%, 2010-08-02   6.50% DEUTSCHE BANK SECURITIES REPO UST DB 20, 0.20%, 2010-08-02   5.11% WI Treasury SEC 08/10 ZCP, 0.01%, 2010-08-12   2.32% UBS SECURITIES LLC REPO UST UBSLLC 16, 0.20%, 2010-08-02   1.86% Portfolio holdings are subject to change and may have changed since the date specified. Click here for more complete holdings.

PORTFOLIO STATISTICS – as of 07-31-2010 Number of Securities   15 Weighted Average Effective Maturity   3.00 Day(s)

ACCOUNT FEATURES Check Writing   Yes Dividends   Monthly

ACCOUNT MINIMUMS Regular Account   $1,000 Traditional/Roth IRA Account   $250 UGMA/UTMA Account   $250 Subsequent Investments   $100

FEES & EXPENSES
Net Expense Ratio – effective since 07-01-10		0.65%*
Redemption Fee		None
IRA Maintenance Fee  More information		$10 per account/$30 maximum

*The total annual fund operating expense ratio of the Fund fell below its contractual net operating expense ratio limit for the most recent fiscal year. The adviser has committed through June 30, 2010, to waive fees and/or reimburse expenses to the extent necessary to ensure that the Funds' net operating expenses, excluding brokerage commissions, interest, taxes, and extraordinary expenses, do not exceed the net operating expense ratio of 0.65%.