Press Release

Wells REIT II Acquires Land for Westinghouse Build-to-Suit

Three-Building Complex to be Developed in Pittsburgh's Northern Suburbs

NORCROSS, Ga. (August 1, 2007) -- Wells Real Estate Investment Trust II Inc. announced today it has acquired 82 acres for a build-to-suit corporate campus for Westinghouse Electric Company in Cranberry, Pa., north of Pittsburgh.

Westinghouse, expanding its Western Pennsylvania operations, plans to break ground next month on the three-building, 777,000-square-foot project in the Cranberry Woods office park. Trammell Crow will develop the property in two phases, scheduled for completion in 2009 and 2010, respectively.

The project, believed the largest Class-A office build-to-suit in Pennsylvania history, will include one five-story central building and two four-story buildings. Westinghouse will occupy the property under a 15-year lease with Wells REIT II following completion.

"Westinghouse is a powerful global name, and we're honored to help them meet their growth needs in Pennsylvania," said Jeff Gilder, chief investment officer, Wells Real Estate Funds. "This is going to be a true Class-A corporate campus that should serve Westinghouse ż and our investors ż well for many years to come."

Wells Real Estate Funds has been part of more than a dozen build-to-suit developments nationwide, for tenants such as Merck, Northrop Grumman and CitiFinancial.

"We pride ourselves on being the landlord of choice to some of the world's greatest companies ż and often, that means helping them meet their needs for new facilities and increased space," said Joe Oglesby, senior vice president. "The Westinghouse campus will be another great example of that capability."

Westinghouse announced in March its plans to locate at Cranberry Woods, after a drive by Gov. Ed Rendell and other officials to keep the company in Pennsylvania. Cranberry is one of the fastest-growing submarkets in Pennsylvania, seven miles north of downtown Pittsburgh and within 10 miles of Pittsburgh International Airport. Cranberry Woods is considered one of the region's premier office parks, adjacent to Interstate 79 and near the Pennsylvania Turnpike.

This will be Wells REIT II's second property in metro Pittsburgh; the REIT also owns 2000 Park Lane in North Fayette Township, with tenants including Fisher Scientific and Computer Associates. Jeremy Kronman, executive vice president of CB Richard Ellis, represented Wells.

Wells REIT II is a public nontraded REIT specializing in office properties. Wells REIT II has 61 buildings in 19 states (including Washington, D.C.), totaling more than $3 billion based on purchase price and covering more than 15 million square feet. Across the portfolio, Wells REIT II properties are 98 percent leased.

Wells Real Estate Funds is a national real estate investment company based in suburban Atlanta. Since its founding in 1984, Wells has invested more than $10 billion in real estate for more than 200,000 investors. For more information, see www.wellsref.com.

Westinghouse Electric Company, a group company of Toshiba Corporation, is the world's pioneering nuclear power company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first PWR in 1957 in Shippingport, Pa. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including 60 percent of those in the United States.

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.