Press Release

Wells REIT II Acquires OfficeMax HQ, Suburban Chicago

Five-Story Class-A Building in East-West Corridor

NORCROSS, Ga. (August 3, 2006) - Wells Real Estate Investment Trust II Inc. announced today it has acquired the suburban Chicago headquarters building of OfficeMax, a five-story Class-A property leased to the retailer until 2016.

The 354,000-square-foot building, at 263 Shuman Blvd. in Naperville, Ill., was built in 1986 and recently renovated.

OfficeMax Inc. is a leader in the office supply industry with nearly 1,000 stores. "OfficeMax is showing results from an ambitious new business plan, and we think their future is bright. We're happy to welcome them to the Wells REIT II roster of tenants and look forward to serving their real estate needs for many years to come," said David Steinwedell, chief investment officer, Wells Real Estate Funds.

"We're very pleased to add another quality property in the Chicagoland area," said Spencer Patton, senior vice president, acquisitions, for Wells. "This is squarely in Chicago's East-West Corridor, one of the area's most desired submarkets."

This is the fifth acquisition for Wells REIT II in metro Chicago.

The building is 100 percent leased to OfficeMax. Patton and Brad Pittman represented Wells in the transaction. The seller, a partnership of GlenStar Properties and Prudential Real Estate Investors, was represented by Gary Nussbaum of Transwestern Commercial Services.

Wells REIT II is a public nontraded REIT specializing in office properties. Wells REIT II now has 49 buildings in 17 states (including Washington, D.C.), totaling more than $2.6 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 $7.5 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.