Press Release

Polo Ralph Lauren Signs New NJ Lease with Wells REIT

NORCROSS, Ga. (April 24, 2006) -- Wells Real Estate Investment Trust Inc. announced today it has signed a new, extended lease with Polo Ralph Lauren Corp. for its offices in Lyndhurst, N.J. The new lease runs through 2019. Polo Ralph Lauren occupies more than 60 percent of the Copper Ridge Center building at 9 Polito Drive, in Lyndhurst, part of Northern New Jersey's Meadowlands submarket. The 10-story, 268,000-square-foot Class-A office building was built in 1989, and acquired by Wells REIT in 2003. Polo has been a tenant since 1992.

"Polo Ralph Lauren is among the unquestioned leaders in its industry, and we're very pleased to help serve their real estate needs for another 13 years," said George Wells, senior vice president of Wells Real Estate Funds, who participated in the transaction along with associate asset manager Kevin Pell. Wells was also represented by Jon Meisel of Jones Lang LaSalle; Polo was represented by David Goldstein of Studley.

Wells REIT is a public, nontraded REIT specializing in office properties, which closed to new investors in 2003. Wells REIT owns 86 buildings in 24 states (including Washington, D.C.), totaling approximately $4.4 billion based on purchase price and covering more than 21 million square feet. Across the portfolio, Wells REIT properties are approximately 95 percent leased.

Wells REIT is managed by Wells Real Estate Funds, a national real estate investment management company that has served more than 200,000 investors and their financial representatives since 1984. Wells-sponsored programs own more than $7 billion in assets (based on purchase price) totaling more than 35 million square feet. For more information, see www.wellsref.com.

Polo Ralph Lauren Corporation, based in New York, is a leader in the design, marketing and distribution of premium lifestyle products in four categories: apparel, home, accessories and fragrances. The company's brand names constitute one of the world's most widely recognized families of consumer brands.

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. Wells REIT is closed to new investors.