Press Release

Wells Real Estate Funds Named to Top Real Estate Brands

Lipsey Survey of 25,000 Industry Representatives

NORCROSS, Ga. (April 2, 2007) - Wells Real Estate Funds, one of the nation's leading office landlords, has been named one of the top real estate brands in a new survey by the Lipsey Company.

Wells cracked the rankings for the first time, placing 16^th in Lipsey's 2007 Top 25 Commercial Real Estate Brands. Lipsey surveyed over 25,000 practitioners including representatives of REITs, institutions, mortgage bankers, commercial brokers, asset managers, property managers and other professionals.

"We are honored to be mentioned with many of the greatest names in our industry," said Leo Wells, president of Wells Real Estate Funds. "This is a real tribute to the dedication of our more than 400 people nationwide."

Wells Real Estate Funds (www.wellsref.com), founded in 1984, 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.

Wells' portfolios, including Wells Real Estate Investment Trust (Wells REIT) and Wells Real Estate Investment Trust II (Wells REIT II), now include more than 39 million square feet of space in 166 buildings, primarily Class-A office properties, geographically diversified across 28 states and Washington, D.C. The combined portfolios are 96 percent leased. More than 200,000 individuals across the country have, through their financial representatives, invested in Wells-sponsored programs.

The Lipsey Company, based in Longwood, Fla., is a training and consulting firm specializing in the commercial real estate industry.

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. 30092-3565 (tel. 800-448-1010). Wells ranks as a top-10 U.S. office landlord by square footage, according to National Real Estate Investor, 2006. SEC filings: www.wellsref.com/investmentproducts/reit/secfilings.html.