Press Release

Wells REIT II Acquires 222 E. 41st Street, NYC

Award-Winning Building's Tenants Include Jones Day

NORCROSS, Ga. (Aug. 21, 2007) -- Wells Real Estate Investment Trust II announced today its acquisition of 222 East 41st Street in New York, a 25-story "Class A+" office building in midtown Manhattan.

The dramatic glass-and-granite tower, near Grand Central Terminal with views of the East River and the Chrysler Building, is 97 percent leased; the principal tenant is Jones Day, the nation's fourth-largest law firm, under a long-term lease.

Wells REIT II acquired the property from Zeta-Ceres LP of Katonah, N.Y., with limited financing provided by Anglo Irish Bank. Terms were not announced. The 391,000-square-foot building was designed by the acclaimed firm HOK, and was named the 2002 Build New York award winner for new construction. The tower currently has one floor available for lease, the 23rd.

"This is a true trophy property - a Class A+ building in the nation's premier office market," said Jeff Gilder, chief investment officer, Wells Real Estate Funds. "We're very pleased to add this valuable asset to the Wells REIT II portfolio."

This is the first New York acquisition for Wells REIT II, which owns more than 60 properties nationwide, including five in northern New Jersey. Wells was represented by Heather Griner, senior vice president, acquisitions.

Wells REIT II is a public nontraded REIT specializing in office properties. Wells REIT II now has 63 buildings in 20 states (including Washington, D.C.), totaling more than $3 billion based on purchase price and covering 16 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.

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.