Press Release

Wells REIT II Acquires Two-Building Complex in Metro Phoenix

SanTan Corporate Center Tenants Include Toyota Motor Credit

NORCROSS, Ga. (April 19, 2006) -- Wells Real Estate Investment Trust II Inc. announced today it has acquired SanTan Corporate Center, a two-building Class-A office complex in suburban Phoenix.

SanTan, constructed in 2000 and 2003, is prominently located at the 101 Loop and Ray Road in Chandler, Ariz., some 20 minutes southeast of downtown Phoenix. The lead tenant for the 268,000-square-foot complex is Toyota Motor Credit Corp., rated AAA by Standard & Poor's and Aaa by Moody's. Toyota recently extended its lease through 2011, and will be expanding its presence in the complex over the next several months.

"This is Wells REIT II's first property in the Phoenix market, and it's an excellent addition to the portfolio," said Ray Owens, managing director, capital markets, for Wells Real Estate Funds. "It's a true Class-A property with a superior lead tenant in Toyota."

"Mesa/Chandler is growing rapidly, in one of the most dynamic markets in the country," said Peter Mitchell, vice president of acquisitions for Wells. "This is a great submarket, and we think SanTan is the kind of well-positioned quality development that will hold its own for many years to come."

With Toyota and 19 other tenants, the buildings are 100 percent leased. Mitchell and senior analyst Michael Holmes represented Wells in the transaction. The seller, RREEF, which co-developed the property, was represented by David Breuner.

Wells REIT II is a public nontraded REIT specializing in office properties. Wells REIT II now has 47 buildings in 17 states (including Washington, D.C.), totaling more than $2.54 billion based on purchase price and covering more than 11 million square feet. Across the portfolio, Wells REIT II properties are 96 percent leased.

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

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. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," or other similar words. Readers of this press release should be aware that there are various factors that could cause actual results to differ materially from any forward-looking statements made in this release. Factors that could cause or contribute to such differences include, but are not limited to, changes in general economic and business conditions, industry trends, changes in government rules and regulations (including changes in tax laws), and increases in interest rates. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. This is neither an offer nor a solicitation to purchase securities. Such an offer can be made only by prospectus. For a prospectus, contact Wells Investment Securities, Inc., 6200 The Corners Pkwy., Norcross, Ga. 30092 (tel. 800-448-1010). SEC filings: www.wellsref.com/investmentproducts/reit/secfilings.html.