Wells REIT II Buys UnitedHealthcare Services Building, Metro St. Louis

Wells REIT II Buys UnitedHealthcare Services Building, Metro St. Louis

NORCROSS, Ga. (Feb. 4, 2008) - Wells Real Estate Investment Trust II announced today its acquisition of UnitedHealthcare Services' five-story office building in suburban St. Louis. In a sale-leaseback, UnitedHealthcare has signed a long-term lease.

The building has 188,500 square feet on five floors, and was constructed as a build-to-suit for UnitedHealthcare a decade ago. It's located in Riverport / Earth City, the area's largest mixed-use business park, northeast of St. Louis. The park offers direct access to Interstates 70 and 270, and is just five minutes from Lambert-St. Louis International Airport.

Terms were not disclosed.

UnitedHealthcare Services, a division of health insurance leader UnitedHealthcare Group, occupies 100 percent of the property. The parent company is rated A- by Standard & Poor's.

"We're pleased to add this property to the Wells REIT II portfolio," said Peter Mitchell, senior vice president, Midwest acquisitions, Wells Real Estate Funds. "It's a well-located building with a strong tenant and a long-term lease, and we're happy to welcome UnitedHealthcare as a tenant."

Wells REIT II, a public nontraded REIT specializing in office properties, now has 72 buildings in 23 states (including Washington, D.C.), totaling more than $4 billion based on purchase price and covering 17 million square feet. Across the portfolio, Wells REIT II properties are 98 percent leased.

This is the REIT's first acquisition in Missouri. "We will continue looking for other quality opportunities, either in existing properties or build-to-suit projects," Mitchell said.

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. 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.

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