Press Release

Wells REIT Acquires Las Colinas Buildings in Irving, Texas

Class-A Office Property in One of Dallas/Fort Worth's Top Business Areas

NORCROSS, Ga. (Sept. 6, 2006) - Wells Real Estate Investment Trust Inc. announced today it has acquired Las Colinas Corporate Center I and II in Irving, Texas, adjacent Class-A office buildings in one of metropolitan Dallas' top business markets.

The two buildings, six and eight stories, respectively, total 386,000 square feet. Tenants include H.D. Vest Financial Services, Deloitte & Touche and The Feld Group, a division of EDS. Vest, the largest tenant, is a subsidiary of Wells Fargo, rated AA- by Standard & Poor's, and leased through December 2012.

"Las Colinas has historically been one of Dallas/Fort Worth's leading submarkets in terms of demand for office space," said Jeff Gilder, managing director, acquisitions, for Wells Real Estate Funds. "This is an exceptional property with solid tenants in a prime location - three things we look for in the Wells REIT portfolio."

The property also offers possibilities for future development by Wells. An adjacent development site could accommodate another 150,000-square-foot building.

Gilder noted the property also fits with Wells' strategy for the area. This is Wells REIT's fifth property in metro Dallas and is located directly across from another Wells REIT building, housing Nokia offices.

Las Colinas Corporate Center I and II were constructed in 1997 and 1998, respectively. The property is located near Dallas/Fort Worth International Airport and several FORTUNE 500 corporations; the Las Colinas submarket typically exceeds the metro average in rental rates.

The property was purchased from MetLife, which was represented by Melayne Packer, director, MetLife Real Estate Investments. Wells was represented internally by Keith Willby, senior vice president, acquisitions.

Wells REIT is a public nontraded REIT specializing in office properties. The REIT now has 86 buildings in 24 states (including Washington, D.C.), totaling more than $5 billion based on purchase price and covering more than 21 million square feet. Across the portfolio, Wells REIT properties are 95 percent leased.

Wells Real Estate Funds is a national real estate investment company based in suburban Atlanta. Since 1984, more than 200,000 people have invested in Wells-sponsored investment programs through their financial representatives. Collectively, these programs own more than $7.5 billion in assets 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, 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.