Recent Census Bureau Data Confirms Women-Owned Businesses Continuing Strong Growth Nationwide SAN FRANCISCO, Sept. 20 /PRNewswire-FirstCall/ -- According to the most recent Census data, women-owned small businesses grew 20 percent from 1997-2002 -- twice the national average of all small businesses. The new Census data coincides with Wells Fargo's 10-year anniversary of its Women's Business Services program, an outreach and education effort that has resulted in more than $22 billion in capital for women business owners nationwide since 1995. "Over the past decade, more capital has become available for women business owners as they continue to be a driving force in today's economy," said Joy Ott, regional president for Wells Fargo Bank in Montana and Women's Business Services program national spokesperson. "As the first financial institution to develop a dedicated program to meet the needs of women business owners, Wells Fargo recognized early on the power of women entrepreneurs. We have seen great progress in the last ten years, and I am confident the growth and success of women-owned businesses will continue in future decades." Wells Fargo's Women's Business Services program was established in September 1995 to build relationships with women business owners and provide them with increased access to capital and financial services. At the program's inception, Wells Fargo established a lending goal of $1 billion over three years. Fueled by the continued growth of women business owners, the goal was increased three times and, in 2003, the latest goal to lend $20 billion over 10 years was established. Wells Fargo has lent more than $22 billion to more than 400,000 women business owners nationwide since 1995. To continually learn about the evolving needs of women business owners, Wells Fargo partners with organizations such as the Center for Women's Business Research. Wells Fargo is a leading advocate in sponsoring industry research that examines the financial and personal characteristics of women business owners. For example, the latest report from The Center titled "Capital Choices: What Matters and What Works" explores women business owners' attitudes toward financing their businesses. Some key findings include: -- 67 percent of women business owners surveyed choose financial products or services based on their relationship with a lender or investor -- Nearly 90 percent of the women business owners surveyed said their most important business goal was "doing work I enjoy everyday." "Investing in research and understanding the unique factors behind the growth of women business owners is paramount to understanding and addressing their financial needs," said Ott. "We have seen women business owners take great risks and establish key relationships to ensure the success of their businesses. While great progress has been made, the continued support of public and private organizations is crucial to ensure the continued success of women entrepreneurs nationwide." About Wells Fargo Wells Fargo & Company is a diversified financial services company with $435 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 Million customers from more than 6,000 stores and the Internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the United States to receive the highest possible credit rating, "Aaa," from Moody's Investors Service. Providing financial products and services to more than one million businesses with annual sales up to $20 million in all 50 states, Puerto Rico and Canada, Wells Fargo is the #1 lender to small businesses in the United States in total dollar volume according to the most recent CRA data (2003). The second largest national SBA lender in dollars, Wells Fargo is an SBA Preferred Lender in 28 states, and originated 3,555 loans for $495 million in 2004. Wells Fargo has also been ranked the number one SBA 504 lender nationally for the last two years. Its targeted business services programs provide outreach and education to women, African American, Latino, and Asian business owners about financial services. Since 1995, Wells Fargo has loaned more than $23 billion to women and minority business owners. Center for Women's Business Research Center for Women's Business Research is the premier source of knowledge about women business owners and their enterprises worldwide. The Center's mission is to unleash the economic potential of women entrepreneurs by conducting research, sharing information and increasing knowledge about this fast-growing sector of the economy. Since 1989, the Center has generated research-based intelligence that has helped public- and private-sector leaders, advocates, and individual women business owners make informed strategic decisions for generating greater business opportunities. The Center shares its knowledge of the economic and social aspects of women's entrepreneurship with policy makers, financial institutions, corporate leaders, government agencies, academia, and the media through research reports, press releases, newsletter publications, seminars, speaking engagements, and worldwide on the Internet at http://www.womensbusinessresearch.org/. DATASOURCE: Wells Fargo & Company CONTACT: Kathryn Ellis of Wells Fargo & Company, +1-415-222-4682, or Web site: http://www.womensbusinessresearch.org/ Web site: http://www.wellsfargo.com/

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