Wells Fargo Brings the NeighborhoodLIFT Program to Jacksonville to Help Local Housing Market Recover

  Wells Fargo Brings the NeighborhoodLIFT Program to Jacksonville to Help
  Local Housing Market Recover

   $7 million effort includes homebuyer support, education, affordable home
tours, and opportunity to qualify for up to $15,000 in down payment assistance
                      to purchase a home in Jacksonville

  * Includes $750 million in mortgage loans for Jacksonville homebuyers as
    part of $1.75 billion goal over five years in Miami, Tampa, Orlando, and
    Jacksonville
  * Offers Jacksonville homebuyers the opportunity to attend a July 27 & 28
    event at the Prime Osborn Convention Center where they can apply for down
    payment assistance grants and participate in homebuyer support programs
  * At the event, NeighborWorks America along with local non-profits will
    determine income eligibility and help qualified prospective homeowners
    reserve down payment assistance grants of up to $15,000 per homebuyer in
    the City of Jacksonville
  * NeighborhoodLIFT^SM will build on the company’s ‘Home Preservation
    Workshops,’ Wells Fargo’s signature, city-by-city effort focused on
    helping homeowners avoid foreclosure
  * NeighborhoodLIFT^SM events in Atlanta, Houston, Las Vegas, Los Angeles,
    Phoenix, Miami, and Tampa have helped create 171 new homeowners through
    NeighborhoodLIFT^SM Down Payment Assistance, with another 149 potential
    new homeowners in process of closing on a home

Business Wire

JACKSONVILLE, Fla. -- July 05, 2012

Wells Fargo & Company (NYSE: WFC), one of America’s leading community banks
and the nation’s largest home mortgage lender, today announced that the
NeighborhoodLIFT^SM program, a major effort to help stabilize neighborhoods
deeply affected by the foreclosure crisis, is coming to Jacksonville. The
program will include a free large-scale homebuyer workshop on Friday and
Saturday, July 27 & 28 at the Prime Osborn Convention Center from 10 a.m. – 7
p.m.

Prospective homebuyers can register and learn more about the
NeighborhoodLIFT^SM program at www.neighborhoodlift.org or by calling
866-858-2151. Pre-registration is encouraged but walk-ins are welcome.

The NeighborhoodLIFT^SM program was created to help communities overcome the
dual challenge of high inventories of unsold homes while providing assistance
for prospective buyers. In Jacksonville, the program includes a five-year goal
of $750 million in mortgage purchase loans by Wells Fargo, and a $7 million
investment in 2012 for down payment assistance grants and homebuyer support
programs to help consumers achieve successful, sustainable homeownership.
Wells Fargo will collaborate with the City of Jacksonville, the non-profit
organization NeighborWorks America, and its local partners to implement the
program.

“This is an excellent example of public-private partnership that will help
build a stronger city one household at a time,” said Jacksonville Mayor Alvin
Brown. “We’re fortunate in Jacksonville to have community partners like Wells
Fargo, NeighborWorks America and Family Foundations willing to come together
under a single vision with an opportunity for responsible, hard-working
Jacksonville residents to grow personal wealth through homeownership.
Investments in our neighborhoods are investments in families, our housing
market and our economic future.”

Jacksonville is one of four cities in Florida where the NeighborhoodLIFT^SM
program is being deployed, along with Miami, Tampa, and Orlando. Wells Fargo
has committed $30 million to support the NeighborhoodLIFT^SM program in 2012
and made a mortgage lending goal of $1.75 billion over five years in the four
Florida cities. The cities were selected for the program based on their high
concentration of homeowners, foreclosures, delinquencies and overall housing
inventory.

“Jacksonville was significantly affected by the housing crisis,” said Scott
Coble, Wells Fargo’s Regional President for North Florida. “Today, despite low
home prices and historically low interest rates, many Jacksonville families
are still unable to purchase a home because they simply cannot afford the down
payment. The NeighborhoodLIFT^SM program will help address this issue by
providing down payment assistance.”

The July 27 and 28 NeighborhoodLIFT^SM event is for anyone interested in
buying and living in a home in Jacksonville. Down payment assistance of up to
$15,000 is available to those who qualify, buy and reside in a home located in
the city. To qualify for down payment assistance that may be applied to a
mortgage purchase loan with any lender, applicants must meet certain criteria
including annual income not exceeding 120 percent of the median income for the
area (for Jacksonville, not to exceed $80,750 for a family of four; income
maximums vary depending on family size); an eight-hour homebuyer education
session with the approved NeighborWorks America affiliate; a commitment to
stay in the home for five years and qualification for a first mortgage on the
property.

At the event, potential homebuyers can find out if they qualify for the down
payment assistance program and reserve funds for 60 days – even if they have
yet to find a property. In addition, prospective homebuyers may stop by the
Wells Fargo Affordable Home Tour^SM viewing center to preview about 100 homes
available for sale in Jacksonville. They can also take a free bus tour to view
the homes from noon to 5 p.m. each day. Self-directed tours are also
encouraged.

About NeighborhoodLIFT^SM

The NeighborhoodLIFT^SM program is collaboration between Wells Fargo Bank,
N.A., Wells Fargo Foundation, NeighborWorks America, an independent non-profit
organization, and local non-profit organizations. The NeighborhoodLIFT^SM
program is designed to provide sustainable homeownership initiatives in cities
deeply affected by the housing crisis. A video about the NeighborhoodLIFT
program is posted at www.youtube.com/wellsfargo.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,
community-based financial services company with $1.3 trillion in assets.
Founded in 1852 and headquartered in San Francisco, Wells Fargo provides
banking, insurance, investments, mortgage, and consumer and commercial finance
through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com),
and other distribution channels across North America and internationally. With
more than 270,000 team members, Wells Fargo serves one in three households in
America. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of
America’s largest corporations. Wells Fargo’s vision is to satisfy all our
customers’ financial needs and help them succeed financially.

Contact:

Wells Fargo & Company
Kathy Harrison, 904-553-9971
kathy.harrison@wellsfargo.com
Chris Hammond, 415-222-4106
chris.l.hammond@wellsfargo.com