Wells Real Estate Funds Acquires 3000 Park Lane, Pittsburgh

Wells Real Estate Funds Acquires 3000 Park Lane, Pittsburgh

5-Story Office Property in Parkway West Corridor

NORCROSS, Ga. (Jan. 9, 2007) - Wells Real Estate Funds today announced the acquisition of 3000 Park Lane, a Class-A office building in suburban Pittsburgh.

Intracorp, a subsidiary of insurance giant Cigna Corp., is the principal tenant in the five-story, 105,000-square-foot building in North Fayette Township. The property is located in the Parkway West Corridor, between downtown and Pittsburgh International Airport.

"This area is continuing to show strength as a business center, and the property provides strong initial yields with the opportunity to benefit from improving market fundamentals," said Jeff Gilder, managing director, acquisitions, for Wells Real Estate Funds.

The building, constructed in 1989, was purchased from a U.S. real estate investment trust, for an investment offering of Wells Real Estate Funds.

The transaction was conducted off-market, through CB Richard Ellis. Heather Griner, vice president, acquisitions, represented Wells.

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 $8 billion in assets totaling approximately 39 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.

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