Press Release

Wells REIT II Acquires LakePointe Corporate Center Three and Five in Charlotte, N.C.

ATLANTA (December 28, 2005) - Wells Real Estate Investment Trust II Inc. (Wells REIT II) has completed the purchase of an existing Class-A office property, LakePointe Corporate Center Five, in Charlotte, N.C., along with a sister building currently under construction, LakePointe Corporate Center Three.

The two properties were purchased from LakePointe Corporate Center Associates, a partnership between Childress Klein Properties and TIAA-CREF. Built in 2001, LakePointe Corporate Center Five is a Class-A four-story, multi-tenant office building encompassing 111,847 square feet. LakePointe Corporate Center Five is 100 percent occupied, with the largest tenant, Lash Group, occupying 69 percent of the space. Lash Group is a business unit of AmerisourceBergen Corp., the largest pharmaceutical services company in the United States.

LakePointe Corporate Center Three is currently 40 percent preleased to Lash Group and Centex Construction. LakePointe Corporate Center Three is being developed by Childress Klein Properties and is targeted for completion in mid-2006. Childress Klein Properties will also serve as the leasing agent. "This acquisition and development deal allows Wells to secure two Class- A buildings leased predominantly to creditworthy tenants with extended lease terms," said David Steinwedell, chief investment officer with Wells Real Estate Funds.

"LakePointe Corporate Center Three is an example of Wells' renewed commitment to development projects," said Joe Oglesby, director of development for Wells Real Estate Funds. To date, Wells Real Estate Funds has completed over $300 million in development deals across the U.S.

With this acquisition, Wells REIT II now has 45 buildings in its portfolio in 16 states (including Washington, D.C.), totaling over $2.4 billion (based on purchase price) and covering over 10 million square feet.

Wells Real Estate Funds is a national real estate investment management company that purchases and manages real estate on behalf of Wells-sponsored investment programs. Since 1984, over 200,000 individuals across the country have invested through their financial representatives in Wells-sponsored investment programs to help diversify their investment portfolios. Collectively, Wells-sponsored programs own approximately $7 billion in assets (based on purchase price) totaling more than 35 million square feet of space.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including discussions regarding Wells' use of proceeds and certain other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forwardlooking statements. Factors that may cause actual results to differ materially include changes in general economic conditions, changes in real estate conditions, construction delays, increases in interest rates, lease-up risks, lack of availability of financing, and lack of availability of capital proceeds. This is neither an offer nor a solicitation to purchase securities. Such an offer can be made only by prospectus. To obtain a prospectus, please contact Wells Investment Securities, Inc., 6200 The Corners Parkway, Norcross, GA 30092-3365 (tel. 800-448-1010, www.wellsref.com).