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Wells Fargo Advantage WealthBuilder Tactical Equity PortfolioSM Wins Lipper Award

SAN FRANCISCO, CA – March 22, 2007 – The Wells Fargo Advantage WealthBuilder Tactical Equity Portfolio has been named the Best Large-Cap Growth Fund by Lipper, Inc.

Last night at Lipper's annual awards ceremony in New York, the management team of the WealthBuilder Tactical Equity Portfolio received the Lipper Fund Award for Consistent Return over the 3-year period. For each of the three-, five-, and ten-year periods, Lipper presents annual awards to funds in each Lipper category for the consistent achievement of strong risk-adjusted returns.

The Wells Capital Management WealthBuilder portfolio management team, led by portfolio managers Galen Blomster, CFA, Jeffrey P. Mellas, and Doug Beath, subadvise the Fund, applying their proprietary Tactical Equity Allocation (TEA) Model to the Portfolio.

Using the TEA Model, the managers evaluate various areas of the markets – domestic versus international, large company versus small company, and growth versus value – and shift assets toward investments that present a compelling opportunity. Once the asset allocation decisions have been made, the managers invest those assets in a number of both proprietary and nonproprietary mutual funds that have been researched, evaluated, selected, and monitored by the management team.

Wells Fargo was one of the first to offer clients a "funds of funds" product line, consisting of both proprietary and nonproprietary funds, in 1997. Introduced to the marketplace as the WealthBuilder Portfolios, the Funds were created to offer clients a more diversified blend of funds within their allocation products. Each Portfolio offers a different allocation strategy designed to meet specific risk tolerance and diversification needs. The Portfolios use Wells Capital Management's Tactical Asset Allocation (TAA), Tactical Equity Allocation, and Strategic Mix investment models.

  • Wells Fargo Advantage WealthBuilder Growth Allocation PortfolioSM
  • Wells Fargo Advantage WealthBuilder Growth Balanced PortfolioSM
  • Wells Fargo Advantage WealthBuilder Moderate Balanced PortfolioSM
  • Wells Fargo Advantage WealthBuilder Conservative Allocation PortfolioSM

Funds managed using the TEA and Strategic Mix Models are:

  • Wells Fargo Advantage WealthBuilder Tactical Equity Portfolio (TEA)
  • Wells Fargo Advantage WealthBuilder Equity PortfolioSM (Strategic Mix)

About the Lipper Awards
"The Lipper Fund Awards 2007 USA is part of a global programme of events, held in 21 countries, to reward funds that have delivered consistently strong risk-adjusted performance relative to their peers. The winners are selected using the Lipper Leader rating for consistent return."

"The Lipper Leader system is a toolkit that uses investor-centered criteria to deliver a simple, clear description of a fund's success in meeting certain goals, such as preserving capital or building wealth through consistent, strong returns. Used in conjunction with one another, Lipper Leader scores can effectively identify funds that meet the particular characteristics sought by the investor..."

"...Lipper Leader scores are derived from highly sophisticated formulas that analyze funds against clearly defined criteria. Funds are compared to similar funds, and only those that truly stand out are awarded Lipper Leader status. Funds are ranked against their peers on each of five measures: Total Return, Consistent Return, Preservation, Tax Efficiency and Expense." source: Lipper

Balanced funds may invest in stocks and bonds. Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. Bond 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 values fall and investors may lose principal value. 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). These funds are exposed to one or more of the following: foreign investment risk, high-yield securities risk, and small company investment risk. Consult the Fund's prospectus for additional information on these and other risks.

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