Press Release

Wells Real Estate Funds Acquires Plymouth, Minn., Building

Five-Story Office Building at 6000 Nathan Lane

NORCROSS, Ga. (Oct. 3, 2006) - Wells Real Estate Funds announced today the acquisition of 6000 Nathan Lane, a five-story office building in Plymouth, Minn., in suburban Minneapolis.

The building, constructed in 1999, includes 184,000 square feet. The largest tenant, McDATA Corp., leases about 80 percent of the building.

"This property offers us a potential opportunity for enhanced value in the relatively near future," said Kevin Hoover, managing director, portfolio management, for Wells Real Estate Funds. "The building is 100 percent leased, but the primary lease comes up in four years. At the same time, we are optimistic about the future of the Minneapolis market."

"While Wells is best known for trophy-class office real estate, we are also actively pursuing a variety of opportunities for our portfolio of funds, including potential value-adding investments," said David Steinwedell, Wells' chief investment officer.

The property, purchased from Opus Real Estate Minnesota II, was acquired by Wells Real Estate Funds on behalf of a portfolio held by Wells investors.

Wells, a national real estate investment management company based in suburban Atlanta, purchases and manages properties on behalf of a number of investment programs, including private placements as well as public funds such as REITs. Since 1984, more than 200,000 people have invested in Wells-sponsored programs, which collectively own more than $7.5 billion in assets totaling more than 37 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.