FOR IMMEDIATE RELEASE

Waltham, MA - July 16, 2002 - People are using Internet tools at record rates to sign up for financial services online. This season, Wells Fargo expects to manage more than $1 billion in Individual Retirement Account (IRA) assets, fueled in part by a 300 percent increase in online IRA assets.

Consistent with these trends, Wells Fargo has already seen a 37 percent increase in the use of its online tools found on www.wellsfargo.com. The cornerstone of the new suite of retirement tools is the "Online Retirement Planner," developed by Archimedes Systems.

"We want our online tools to be easy and fun to use, while providing very practical assistance -- and our customers have responded," says Shelley Freeman, executive vice president of Investment Internet Services at Wells Fargo. "We're having a record year in online IRA sales, and we are seeing customers gravitating towards using online tools. We think people may be confused about such basic issues as IRA eligibility and contribution limits. At the same time we believe people are more serious than ever before about planning for the future and taking action."

The Online Retirement Planner, found at www.wellsfargo.com, allows investors to input some basic information about their age, income, current savings, and any sources of retirement income they or their spouse or partner expect to receive. Using this information, the tool shows what the person's retirement outlook might be based on some assumptions. The investor can adjust those assumptions to answer a number of "what if" questions for themselves, such as:

	What would happen if I delay my retirement?
	What if I retire early?
	What if I live to be 100?
	What if inflation rises or falls?
	The tool also provides a personalized report that addresses the most important question: what can I do today?

Joel Karasik, Director of Product Development at Archimedes Systems adds, "Most retirement tools emphasize the importance of starting early, and starting early is important. Our Online Retirement Planner also emphasizes how investors can adjust factors within their control, such as how much to save or when to retire, when the factors beyond their control change, like inflation."

In addition to the Online Retirement Planner, Wells Fargo also offers customers a breadth of information in its Retirement Center. The Retirement Center features tools and information to help customers in every phase of their lives -- starting to plan for retirement, staying on track, nearing retirement and living well in retirement.

About Wells Fargo Investment Services
Wells Fargo Online Brokerage is provided by Wells Fargo Investments, LLC (member NYSE/SIPC), a non-bank affiliate of Wells Fargo & Company. Customers can trade stocks, options, and more than 7,000 mutual funds online, and get access to news, research, free unlimited real time quotes, alerts, and watchlists, with 24/7 customer support. For investors seeking assistance from a full-service broker, WFI has approximately 1,200 financial consultants nationwide and is the nation’s 8th largest broker-dealer.

The Private Client Services division builds on Wells Fargo’s 145 years of experience in trust management and private banking in the West by providing a wide range of securities, fixed-income investments and insurance products.

About Wells Fargo & Company
Wells Fargo & Company (NYSE: WFC) is a $308 billion diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through 5,400 stores, its Internet site (www.wellsfargo.com) and other distribution channels across North America as well as internationally.

Editorial Contacts:

For Archimedes Systems Mary Nickeson mary@archimedes.com
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