Press Release

Wells REIT II Acquires Tampa Commons in Tampa, Fla.

ATLANTA (December 28, 2005) - Wells Real Estate Investment Trust II Inc. (Wells REIT II) has completed the purchase of Tampa Commons, a 13-story Class-A, multi-tenant office building consisting of approximately 255,000 square feet. The property, which is located at 1 N. Dale Mabry Highway in the Westshore business district of Tampa, was purchased from OIK, a German investment group.

The building, which was constructed in 1984, currently is over 99 percent leased. The largest tenant, occupying over 48 percent of the property, is Time Customer Service, the customer fulfillment services arm of Time Inc. Time is a subsidiary of Time Warner, which carries a BBB+ rating by Standard & Poor's and a Baa1 rating by Moody's Investors Service. "This transaction provides Wells REIT II with a Class-A building in a desirable location in the Tampa metropolitan area at a price near replacement cost," said David Steinwedell, chief investment officer for Wells Real Estate Funds.

"The Westshore submarket is one of the most prestigious office submarkets in the Tampa Bay market," said Joe Oglesby, senior vice president of acquisitions for Wells. "We continue to have an appetite for acquisitions in the major markets in Florida and we expect to complete more deals in the state in 2006."

With this acquisition, Wells REIT II now has 44 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. Mike Davis of Cushman & Wakefield represented the seller in this transaction.

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 32 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).