Press Release

Wells REIT II to be Offered to Investors by SunTrust Investment Services

Atlanta-Based Bank's Brokerage Subsidiary Signs Agreement With Largest Open Nontraded REIT

NORCROSS, Ga. (Feb. 7 2007) - Wells Real Estate Funds announced today that SunTrust Investment Services has signed an agreement to include Wells REIT II in its array of investment offerings.

SunTrust Investment Services is the full-service brokerage and investment advisory services subsidiary of Atlanta-based SunTrust Banks, Inc., one of the nation's largest commercial banks.

Wells Real Estate Investment Trust II is the nation's largest open nontraded REIT, with more than $3 billion in investments.

Wells REIT II will be offered through some 650 SunTrust investment consultants in 18 states, making SunTrust the largest bank-based system offering the fund. It is SunTrust Investment Services' first nontraded REIT - one that is publicly registered but does not trade on the stock markets.

"It's an honor to welcome SunTrust and its investment consultants to the Wells family," said Leo Wells, president of Wells Real Estate Funds. "SunTrust is an exemplary institution. Their investment arm will help us expand our reach and help more investors learn about Wells and diversifying through real estate."

"Real estate continues to play an important role in many portfolios today, and Wells is a national leader in bringing real estate investing to individual investors," said John Rhett, chairman of SunTrust Investment Services. "We're pleased to add Wells REIT II to our investment offerings, and we look forward to working with Wells as we serve our clients."

Wells REIT II specializes in Class-A office properties. Its properties in metro Atlanta, home of Wells and SunTrust, include One Glenlake, the 14-story tower at Georgia 400 and Abernathy Road; and Wildwood Portfolio, an 831,000-square-foot, four-building development near Interstates 75 and 285 in Cobb County. Nationwide, Wells REIT II owns 56 buildings in 18 states (including Washington, D.C.), totaling approximately $3 billion based on purchase price and covering more than 14 million square feet. Across the portfolio, Wells REIT II properties are more than 97 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 $9 billion in assets totaling more than 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. 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.