Press Release

Wells REIT II Acquires Siemens Building in Orlando

Four-Story Class-A Building Leased to 2011

NORCROSS, Ga. (August 9, 2006) - Wells Real Estate Investment Trust II Inc. announced today it has acquired the Siemens Quadrangle II building at 11950 Corporate Blvd. in Orlando, Fla., a four-story Class-A property at The Quadrangle office park.

The 226,548-square-foot building, built for Siemens in 2001, is one of three adjacent Siemens buildings. It is fully leased to the company until 2011.

The seller was Falcon Real Estate Investment Co., which purchased the property from the developer in 2002.

Siemens is rated AA- by Standard & Poor's.

"This is a nice fit for our REIT II portfolio ż a quality property and an excellent tenant," said Joe Oglesby, senior vice president, Wells Real Estate Funds. The building, located in Orlando's desirable University Research submarket, features numerous amenities including a cafeteria serving the three Siemens buildings.

Oglesby and Michael Holmes represented Wells in the transaction. Holliday Fenoglio Fowler of Miami represented the seller.

This is the second acquisition in Orlando for Wells REIT II, which also owns the Baldwin Point office building on Lake Baldwin, with tenant Travelers Indemnity Co.

Wells REIT II is a public nontraded REIT specializing in office properties. Wells REIT II now has 50 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.