Press Release

Microsoft, Boeing Sign New Leases with Wells REIT

FORTUNE 500 Companies to Rent at Eastpointe Corporate Center, near Seattle

NORCROSS, Ga. (July 28, 2006) - Wells Real Estate Investment Trust Inc. announced today it has signed new lease agreements with Microsoft Corp. and the Boeing Company, for both companies to lease space at its Eastpointe Corporate Center near Seattle.

Microsoft, based in Redmond, Wash., has signed a five-year lease for 87,000 square feet at Eastpointe, on Black Nugget Road in nearby Issaquah, effective Nov. 1. Boeing, a tenant at Eastpointe since 2001, recently signed a new lease for the remainder of the 158,000-square-foot building, also to 2011.

"Wells' hallmark is serving quality tenants with quality real estate. Microsoft and Boeing are true global giants, and we're honored to work with both of them," said Don Miller, chief real estate officer, Wells Real Estate Funds. "They're extremely strong companies financially, and obviously a superb fit as we seek highly creditworthy tenants."

Eastpointe Corporate Center is a five-story Class-A office property built in 2001. Wells REIT acquired the building in 2003.

Wells was represented in the transactions by Bill Pollard and J.J. Sheppard of Pacific Real Estate Partners, and Scott Brown, vice president, Wells Asset Management. Microsoft was represented by Dwight Newell from Trammel Crow Co.; Joe Steele of USI Real Estate represented Boeing.

Wells REIT is a public, nontraded REIT specializing in office properties, which closed to new investors in 2003. Wells REIT owns 85 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 more than 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 $7.5 billion in assets (based on purchase price) totaling more than 35 million square feet. 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, 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 forward-looking 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.