Wells Fargo Advantage International Value Fund – WFFAX

MORNINGSTAR RATINGS™ as of 04-30-2013 Category = Foreign Large Value 3-year Morningstar Rating™ (out of 316 funds)   5-year Morningstar Rating™ (out of 263 funds)   10-year Morningstar Rating™   N/A Overall Morningstar Rating™ (out of 316 funds)   The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) ratings, based on risk-adjusted returns. Click here for more information.

Morningstar® Style Box™ – as of 04-30-2013 Click here for more information.

LIPPER INC. TOTAL RETURN RANKINGS – as of 04-30-2013 Lipper International Multi-Cap Value Funds

1-year   24 out of 84 3-year   28 out of 64 5-year   28 out of 54 10-year   N/A

Past performance is no guarantee of future results.

AVERAGE ANNUAL TOTAL RETURNS – as of 03-31-2013

				1-year		3-year		5-year		10-year		Since Inception
International Value Fund		NAV		10.20%		4.03%		-1.70%		--		5.53%
		POP		3.86%		2.00%		-2.86%		--		4.87%
MSCI EAFE Value Index				11.02%		3.45%		-1.70%		--		--
Figures quoted represent past performance, which is no guarantee of future results. Investment return and principal value 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 and assumes the reinvestment of dividends and capital gains. Click here for current month-end performance. Public offering price (POP) is the price of one share of a fund including any sales charges. Net asset value (NAV) is the value of one share of the fund excluding any sales charges. Had sales charges been included, performance would be lower. For Class A shares, the maximum front-end sales charge is 5.75%. Performance including sales charge assumes the sales charge for the corresponding time period.

EXPENSES
Net Expense Ratio – effective since 10-01-12		1.50%
Gross Expense Ratio		1.52%
The advisor has committed, through 09-30-13, to waive fees and/or reimburse expenses to the extent necessary to cap the fund's total annual fund operating expenses after fee waiver, excluding certain expenses, at 1.50%. Without this cap, the fund's returns would have been lower.

CALENDAR YEAR RETURNS

2012		17.00%
2011		-12.59%
2010		7.03%
2009		30.59%
2008		-43.93%
2007		2.77%
2006		28.58%
2005		10.54%
2004		25.73%

The inception date of Class A shares was 10-31-03. The inception date of Class B and Class C shares was 4-8-05. Performance shown for Classes B and C shares prior to their inception reflects the performance of Class A shares, adjusted to reflect the higher expenses applicable to Class B and C shares.

ADVISER  |  Wells Fargo Funds Management, LLC

SUB-ADVISER  |  LSV Asset Management ("LSV")

PORTFOLIO MANAGERS

		Josef Lakonishok Years of investment experience: 32 View biography Dr. Lakonishok has served as CEO, Partner, and Portfolio Manager for LSV since its founding in 1994. Dr. Lakonishok has more than 26 years of investment and research experience. Dr. Lakonishok earned his B.A. degree in Economics and Statistics and his M.B.A. degree from Tel Aviv University and earned his M.S. and Ph.D. degrees in Business Administration from Cornell University.
		Menno Vermeulen, CFA Years of investment experience: 20 View biography Mr. Vermeulen has served as a Portfolio Manager and Senior Quantitative Analyst for LSV since 1995 and as a Partner for LSV since 1998. Mr. Vermeulen has more than 14 years of investment experience. Mr. Vermeulen earned his M.S. degree in Econometrics at Erasmus University at Rotterdam.
		Puneet Mansharamani, CFA Years of investment experience: 14 View biography Mr. Mansharamani has served as a partner and portfolio manager at LSV, the Fund's subadvisor, since 2006. Previously, he was a quantitative analyst at the firm since 2000. He earned his B.S. in Engineering from Delhi University, Delhi College of Engineering, and his M.S. in Engineering from Case Western Reserve University, Case School of Engineering.

THE FUND  |  The Wells Fargo Advantage International Value Fund seeks long-term capital appreciation through a quantitative investment model focused on equity securities of non-U.S. companies.

• Employs a deep-value strategy that seeks to invest in undervalued international companies with high potential for near-term price appreciation.
• Follows a disciplined quantitative process designed to systematically exploit the judgmental biases and behavioral weaknesses that influence the decisions of many investors.
• Focuses on stock selection within sectors while maintaining a country-neutral approach compared with the MSCI EAFE Index. The buy and sell decisions generated by the quantitative model: In order for a security to be added to the portfolio, it must be in the top 15% of all stocks in its sector according to LSV's ranking model. Stocks are sold when they fall below the top 40%.

• Behavioral finance research: LSV is a pioneer and leader in this field and has designed an investment process to exploit investors' cognitive biases, which can lead to "herding" and "group think" behaviors and a tendency to rely on anecdotes and stereotypes as a filter for investment decisions. The team's research has demonstrated that value strategies potentially produce superior returns because investors extrapolate past performance too far into the future.
• Deep, experienced investment team: Markets evolve, which can lead to new, exploitable behavioral tendencies, as investors react to new data in different ways. LSV's large and deep academic investment team keeps it on the cutting edge of research, validating the relevancy of its quantitative model and the continual search for undiscovered and exploitable investment variables.

RISKS  |   Stock fund values fluctuate in response to the activities of individual companies and general market and economic conditions. Foreign investments are especially volatile and can rise or fall dramatically due to differences in the political and economic conditions of the host country. These risks are generally intensified in emerging markets. The use of derivatives may reduce returns and/or increase volatility. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). This fund is exposed to smaller-company securities risk. Consult the fund's prospectus for additional information on these and other risks.

TOP HOLDINGS – % of net assets as of 04-30-2013 Sanofi-Aventis SA   2.25% Royal Dutch Shell PLC   2.14% AstraZeneca PLC   1.69% Vodafone Group   1.39% KDDI Corporation   1.34% Roche Holding AG   1.23% Allianz SE   1.22% China Petroleum & Chemical Corporation   1.19% Credit Suisse Group   1.19% BP PLC   1.17% Portfolio holdings are subject to change and may have changed since the date specified. Click here for more complete holdings.

TOP COUNTRIES – % of net assets as of 04-30-2013 Japan   19.70% Great Britain   19.12% France   8.05% Germany   7.54% Switzerland   6.24% Australia   5.37% Netherlands   2.95% China   2.54% Brazil   2.54% Canada   2.36% Portfolio sectors are subject to change and may have changed since the date specified.

PORTFOLIO STATISTICS – as of 04-30-2013 Number of Securities   182 Median Market Capitalization   $6.44 Billion Turnover Rate – as of 4-30-13   10.35% R²   0.97 Beta   0.93

ACCOUNT FEATURES Check Writing   No Dividends   Annually

ACCOUNT MINIMUMS Regular Account   $1,000 Traditional/Roth IRA Account   $250 UGMA/UTMA Account   $50 Subsequent Investments   $100

FEES
Redemption Fee		None
IRA Maintenance Fee  More information		$10 per account/$30 maximum