Wells Announces Name, Index Change for U.S. REIT Mutual Fund

Wells Announces Name, Index Change for U.S. REIT Mutual Fund

9-Year-Old Fund Will Now Track Dow Jones Wilshire U.S. REIT Index^SM

NORCROSS, Ga. (Dec. 6, 2007) - Wells Real Estate Funds today announced a change in name, index and sub-adviser for its nine-year-old domestic REIT mutual fund, to track the Dow Jones Wilshire U.S. REIT Index^SM.

The board of the fund has approved a change in name to the Wells Dow Jones Wilshire U.S. REIT Index Fund, to reflect the new benchmark. Its ticker symbol on the New York Stock Exchange will be WDJAX.

By shareholder approval, sub-adviser to the fund will be The Tuckerman Group, LLC, which also is sub-adviser to its counterpart, the Wells Dow Jones Wilshire Global RESI Index Fund. The changes are effective Dec. 5.

"We believe the change in indexes will enhance our investors' ability to invest in U.S. equity REITs," said Leo Wells, president of the fund and of Wells Real Estate Funds. "We're pleased to match the fund with two powerhouses in indexing, Dow Jones and Wilshire, and happy to extend our relationship with The Tuckerman Group."

Wells' domestic REIT mutual fund, launched in 1998, previously was benchmarked against the Standard & Poor's REIT Composite Index. The fund is a diversified, open-end, U.S.-registered management investment company, with total net assets of $353 million as of Sept. 30, 2007.

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 $11 billion in real estate for more than 200,000 investors. Wells funds include REITs, mutual funds and other commercial real estate investment vehicles. 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, 6200 The Corners Pkwy., Norcross, Ga. 30092 (800-448-1010). SEC filings: http://www.wellsref.com/investmentproducts/mutualfund/secfilings.html

"Dow Jones," "Wilshire" "Dow Jones Wilshire U.S. REIT Index^SM," are service marks of Dow Jones & Company, Inc. or Wilshire Associates Incorporated and have been licensed for use for certain purposes by Wells Real Estate Funds. The Wells Dow Jones Wilshire U.S. REIT Index Fund based on the DJ Wilshire US REIT Index^SM is not sponsored, endorsed, sold or promoted by Dow Jones or Wilshire and neither Dow Jones nor Wilshire makes any representation regarding the advisability of investing in the Fund.

Press Release