Wells Fargo Bank Lowers Prime Rate to 4.00 Percent

Wells Fargo Bank, N.A., said today it is lowering its prime rate from 4.50 percent to 4.00 percent, effective today, October 29, 2008.

Wells Fargo & Company is a diversified financial services company with $622 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody’s Investors Service, "Aaa,” and Standard & Poor’s Ratings Services, "AAA.”