Wells Fargo Launches Home Rebate Card(SM) to Help Mortgage Customers Make Smart Use of Their Finances

SAN FRANCISCO, April 4 /PRNewswire-FirstCall/ -- Wells Fargo & Company (NYSE: WFC) announced today that it has launched the Wells Fargo Home Rebate Card(SM) -- a special credit card product only for Wells Fargo Home Mortgage customers who want to pay down their mortgage faster, build equity quicker and potentially save thousands of dollars on mortgage interest. Wells Fargo will begin promoting the card through in-store merchandising during its Spring Into Action campaign, which starts April 16 and focuses on financial solutions for the home.

"The Wells Fargo Home Rebate Card is another innovative product that can help our customers make smart use of their money and help them succeed financially," said Peter Ho, Wells Fargo Home Rebate Card product manager. "Our pilot program showed us that our mortgage customers understand that with this card their day-to-day spending is better managed, better protected and better rewarded."

Virtually every purchase (purchases minus returns/credits) customers make with the card counts toward 1 percent rebate credited to the principal on their Wells Fargo Home Mortgage loan. The rebate is applied automatically in $25 increments, and there is no cap on the amount of rebate customers can earn. The rebate can help customers potentially save thousands of dollars on their long-term mortgage interest and lower the number of their remaining payments on fixed rate loans.

The Wells Fargo Home Rebate Card is protected by our WellsProtect(R) program. The WellsProtect program provides cardholders with zero liability if their Wells Fargo Credit Card, ATM Card or Check Card are ever lost, stolen or used without authorization and cardholders promptly notify Wells Fargo. This means that cardholders are automatically protected against any unauthorized transactions made at merchants, over the phone, on the Internet or at the ATM. It also comes with Visa(R) Warranty Manager, which doubles all written manufacturers warranties of three years or less.

Wells Fargo Home Rebate Card holders can use Wells Fargo's free online money management tool -- My Spending Report -- to help better manage and protect their finances. My Spending Report automatically collects and summarizes Wells Fargo accounts into one powerful, online report. Cardholders can quickly review purchases and their month-to-month spending for easier money management and greater financial control.

Customers can opt to get their Wells Fargo Home Rebate Card with the Visa(R) Contactless feature, the newest innovation in payment technology. Cardholders simply hold their cards near a secure reader at checkout instead of swiping them or handing them to a cashier. Cardholders are not required to provide a signature for most purchases under $25, and contactless merchants will not have to provide a receipt for purchases under $25 to cardholders (unless requested by the cardholder).

Wells Fargo is committed to providing customers with the tools and resources they need to succeed financially -- including buying a home and building equity. Additional tools and resources include:

  --  Steps To Success(SM) - a free comprehensive program to help nonprime
      mortgage borrowers better manage their credit and achieve financial
      success.  The program includes free credit reports with credit scores,
      advice from credit education specialists and more.

  --  The Great American Homeowner Challenge(TM) - As Founding Sponsor,
      Wells Fargo Home Mortgage has teamed up with #1 bestselling author and
      financial coach David Bach for The Great American Homeowner
      Challenge(TM) with a three-year goal of inspiring 10 million Americans
      to buy a first home, second home or investment property.

Wells Fargo & Company is a diversified financial services company with $482 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 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." Wells Fargo Home Mortgage is the nation's No. 1 retail mortgage lender(1) and servicer(2) of home mortgages. As a division of Wells Fargo Bank, N.A., it has a local presence in more than 2,400 mortgage stores and bank branches, plus the capabilities to serve the home financing needs of customers nationwide through its call centers, Internet presence and wholesale lending operations. Wells Fargo Home Mortgage services loans for more than 7.6 million servicing customers.

  (1)  Based on year-end 2006 statistics compiled by Inside Mortgage Finance
       - Feb. 23, 2007
  (2)  Based on year-end 2006 statistics compiled by Inside Mortgage Finance
       - Feb. 9, 2007