2007 Plan Changes Result in Projected Annual Net Savings of $1 Million for Plan Participants MADISON, Wis., June 14 /PRNewswire/ -- The Wisconsin College Savings Program Board today announced that the state's 529 college savings plans, EdVest and tomorrow's scholar(R), will make changes to the plans' Stable Value investment option that could save investors in these portfolios a projected $324,000.00 annually.(1) These savings, in addition to those created by the announced fee reductions in January, bring the projected annual net savings passed on to plan participants to more than $1 million. "As administrators to Wisconsin's college savings plans, we're always pleased when changes made for investment policy purposes also result in reduced costs for plan participants," said State Treasurer Dawn Marie Sass. Sarah Henriksen, vice president of education planning with program manager Wells Fargo Funds Management, LLC, said, "This change will give investors an investment option with a comparable investment objective and investment approach, but at significantly less cost." The most recent fee reductions will take effect on June 15, when the EdVest and tomorrow's scholar Stable Value Portfolios will be renamed the Ultra-Conservative Portfolio. It's investment objective and investment strategies will also change. In accordance with these changes, investors in the Ultra-Conservative Portfolio will have their college savings investments reallocated into the Wells Fargo Advantage Heritage Money Market Fund(SM), reducing portfolio expenses to 0.44% from 0.75% of assets. For an investor with a $5,000 account, this results in an estimated annual savings of $15.50. This reduction follows recent changes made to the plans in January that reduced fees across the majority of investment options, some by as much as 14 basis points (0.14%). The fee reductions resulted in a projected annual savings of approximately $733,000 for plan participants. The Wisconsin College Savings Program Board and Wells Fargo Funds Management have made multiple fee reductions to keep the Wisconsin 529 plans among the lowest-costing plans in the country. In fact, EdVest was recently recognized by BusinessWeek as a "low-cost plan," offering equity investment portfolios with expense ratios as low as 0.35%.(2) Across all investment options, EdVest participants pay an average of only 0.79% in annual portfolio expenses. Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, offers investment solutions for individual and institutional investors. The firm manages the EdVest and tomorrow's scholar college savings plans, as well as Wells Fargo Advantage Funds, a family of more than 120 mutual funds across a wide range of asset classes, representing more than $126 billion in assets under management, as of 4-30-07. Wells Fargo Funds Management also provides portfolio management services through its Wells Fargo Advisor(SM) program and customized investment solutions through Wells Fargo Managed Account Services, which is a program of professionally managed portfolios consisting of individual securities. For more complete information about Wells Fargo Advantage Funds, EdVest, or tomorrow's scholar, obtain a current prospectus or program description by calling 1-800-222-8222 or visiting http://www.wellsfargo.com/advantagefunds or by contacting your investment professional. Consider the investment objectives, risks, charges, and expenses of the investment carefully before investing. This and other information about Wells Fargo Advantage Funds, EdVest, or tomorrow's scholar can be found in a current prospectus or program description. Please read it carefully before investing. An investment in the Wells Fargo Ultra-Conservative Portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Wells Fargo Ultra-Conservative Portfolio seeks to preserve the value of your investment at $10.00 per share, it is possible to lose money by investing in this Portfolio. An investor's or a designated beneficiary's home state may offer state tax or other benefits that are only available for investments in that state's qualified tuition program. Please consider this before investing. (1) As of May 31, 2007, the EdVest and tomorrow's scholar plans held approximately $104,529,000 in the Stable Value Portfolio. Today's announced changes to the investment option will reduce expenses on the portfolio to 0.44% from 0.75% of assets. This reduction of 31 basis points should save investors approximately $324,041 annually. (2) "529s Just Might Make the Grade," by Anne Tergesen, BusinessWeek, January 15, 2007. EdVest and tomorrow's scholar are state-sponsored 529 college savings plans administered by the Wisconsin Office of the State Treasurer. Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Advantage Funds, EdVest, tomorrow's scholar, the Wells Fargo Advisor program, and Wells Fargo Managed Account Services. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the Funds. The Funds and shares in the 529 plans are distributed by Wells Fargo Funds Distributor, LLC, Member NASD/SIPC, an affiliate of Wells Fargo & Company. 105050 06-07 NOT FDIC INSURED * NO BANK GUARANTEE * MAY LOSE VALUE DATASOURCE: Wells Fargo & Company CONTACT: Marty Olle of Wisconsin Office of the State Treasurer, +1-608-264-7886; or John Roehm of Wells Fargo Funds Management, LLC , +1-415-222-5338 Web site: http://www.wellsfargo.com/

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