October 12, 2008

Approval of proposal by Wells Fargo & Company to acquire Wachovia Corporation

For immediate release

The Federal Reserve Board on Sunday announced its approval of the application and notice under sections 3 and 4 of the Bank Holding Company Act by Wells Fargo & Company, San Francisco, California, to acquire Wachovia Corporation and its subsidiary banks, Wachovia Bank, National Association, both of Charlotte, North Carolina, and Wachovia Bank Delaware, National Association, Wilmington, Delaware, and the nonbanking subsidiaries of Wachovia Corporation.

Attached is the Board's Order relating to this action.

Last Update: October 12, 2008