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Wells Fargo Auto Finance Celebrates 60 Years

April 4, 2007

Chester, Pa. — Wells Fargo & Company is marking two special milestones in 2007. Wells Fargo & Company is turning 155, and this month Wells Fargo Auto Finance celebrates 60 years of providing automobile financing.

“Being in business for 60 years exemplifies the strength and stability of the Wells Fargo brand and its ability to stay on top in this ever-changing industry,” said Gary Lorenz, president of Wells Fargo Auto Finance.

“I feel privileged to be a part of Wells Fargo’s 155-year tradition of providing financial services, however we are the first to recognize that we could not have done this without the tremendous support of our customers and dealers,” Lorenz said. “Reaching this milestone is a true testament to them, and the people who have worked for Wells Fargo Auto Finance over the past 60 years. They are the ones who made reaching this anniversary possible and I thank them for all of their hard work, dedication and support. Wells Fargo Auto Finance is committed to continuing its leadership role in the auto finance industry for the next 60 years.”

Wells Fargo Auto Finance was founded in 1947 as Community Credit and acquired by Norwest Financial in 1994. On July 1, 2000 Norwest Financial changed its name to Wells Fargo Financial and the auto finance division became Wells Fargo Financial Acceptance. Later that year, Wells Fargo Financial acquired Flagship Credit, an indirect automobile lender based in Philadelphia, Pa. Then in July of 2005, Wells Fargo Financial Acceptance merged with Wells Fargo Auto Finance Group to become Wells Fargo Auto Finance.

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