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Portfolio Managers Added to Certain Municipal Income Funds

Effective November 1, 2009, new portfolio managers will join the investment teams of certain Wells Fargo Advantage Municipal Income Funds. These managers are expected to add depth and experience to the existing portfolio management teams. For four Funds, new portfolio managers will join the existing investment teams, while in the case of the Wells Fargo Advantage California Limited-Term Tax-Free Fund, existing portfolio manager Julio C. Bonilla will be replaced by Adrian Van Poppel. Mr. Bonilla continues as a portfolio manager for the Wells Fargo Advantage Ultra Short-Term Municipal Income Fund, for which there are no current changes to the portfolio management team, and will join the Wells Fargo Advantage Minnesota Tax-Free Fund as a portfolio manager.

Mathew M. Kiselak is joining Wells Capital Management and the portfolio management teams of two Funds while continuing to serve in his current capacity as a portfolio manager for Evergreen Investments. Our objective is to align resources effectively and efficiently by combining the investment talent from Evergreen Investments and Wells Capital Management, both of which are wholly owned investment management subsidiaries of Wells Fargo & Company.

Further details are provided below.

Wells Fargo Advantage Fund Current Portfolio Management Team New Portfolio Management Team
(Effective November 1, 2009)
Wells Fargo Advantage California Limited-Term Tax-Free Fund Stephen Galiani,
Julio C. Bonilla
Stephen Galiani,
Adrian Van Poppel
Wells Fargo Advantage California Tax-Free Fund Stephen Galiani Stephen Galiani,
Adrian Van Poppel
Wells Fargo Advantage Intermediate Tax/AMT-Free Fund Lyle J. Fitterer,
Robert J. Miller
Lyle J. Fitterer,
Robert J. Miller,
Mathew M. Kiselak
Wells Fargo Advantage Minnesota Tax-Free Fund Adrian Van Poppel,
Wendy Casetta
Adrian Van Poppel,
Wendy Casetta,
Julio C. Bonilla
Wells Fargo Advantage Municipal Bond Fund Lyle J. Fitterer,
Robert J. Miller
Lyle J. Fitterer,
Robert J. Miller,
Mathew M. Kiselak

Julio C. Bonilla, CFA
Mr. Bonilla joined the Wells Capital Management Municipal Fixed Income team in 2005. He specializes in national tax-exempt fixed-income securities. Previously, he served on the firmís money market management team and became a portfolio manager in 2002. Mr. Bonilla began his career with Wells Fargo, the firmís parent company, in 1997 as a brokerage sales assistant. He holds a bachelorís degree in political science from the University of San Diego. He earned his masterís degree in business administrationĖfinance from Pepperdine University in 1997. Mr. Bonilla has earned the right to use the Chartered Financial Analyst® (CFA®) designation and is a member of the CFA Institute and the CFA Society of San Francisco.

Wendy Casetta
Ms. Casetta joined Wells Capital Management in January 2005 with the acquisition of Strong Capital Management, where she served as a senior research analyst and portfolio manager for the municipal credit research team. Prior to that, from 1994 to 1998, she was a fixed-income trader and investment associate at Barnett Capital Advisors. She began her investment industry career in 1993 as a registered representative at Nicholas Company. Ms. Casetta earned a bachelorís degree in finance from the University of WisconsinĖOshkosh and an M.B.A. from the University of North Florida.

Lyle J. Fitterer, CFA, CPA
Mr. Fitterer joined Wells Capital Management as a portfolio manager in 2005, having served with Strong Capital Management since 1989. He has served as director of Fixed Income for Wells Capital Management and predecessor Strong Capital Management since 2004. He served first as a mutual fund accountant and later as an analyst and trader in the Fixed Income department, specializing in mortgage- and asset-backed securities. He has also traded equity and derivative securities for hedge funds and equity mutual funds. Mr. Fitterer joined Strong Institutional Client Services as managing director in November 1998, where he was responsible for overseeing the institutional and intermediary sales organization. He received a bachelorís degree in accounting from the University of North Dakota.

Stephen Galiani
Mr. Galiani joined the Fixed Income team at Wells Capital Management in 1997. Previously, he served as director of Fixed Income for Qualivest Capital Management from 1995 to 1997 and was president of Galiani Asset Management Corporation, an independent advisory practice, from 1990 to 1995. Mr. Galiani earned a bachelorís degree in English from Manhattan College and an M.B.A. from Boston University.

Mathew M. Kiselak
Mr. Kiselak joined Evergreen Investment Management Company in 2000 and currently serves as director and senior portfolio manager of three national tax-exempt municipal bond funds and seven tax-exempt money market funds. Previously, he was a senior portfolio manager at NationsFunds. Mr. Kiselak has been in the investment management field since 1987. He earned a bachelorís degree in economics from Pace University.

Robert Miller
Mr. Miller joined Wells Capital Management in May 2008. He currently manages both subadvised mutual funds and separate accounts. Previously, he worked for American Century Investments for ten years, where he had direct responsibility for the firmís flagship Tax-Free Bond Fund, as well as its Long-Term Bond Fund. He also managed California, Florida, and Arizona municipal funds and served as a member of the analytical team while at American Century. Mr. Miller earned a bachelorís degree in business administration with an emphasis in finance from San Jose State University and an M.B.A. from the Leonard N. Stern School of Business at New York University.

Adrian Van Poppel
Mr. Van Poppel manages Arizona, California, and Minnesota tax-free mutual funds and separate accounts. He joined Wells Capital Management in 1997 and was responsible for trading cash positions of repurchase agreements and sweep for all mutual funds. He has been with the firm and its parent company since he began his investment career in 1996. He earned a bachelorís degree in business administration and economics from Saint Maryís College in Moraga, California. He is a member of the California Society of Municipal Analysts and the Municipal Bond Club of San Francisco.