Correction

EL PASO, Texas, Nov. 13 /PRNewswire-FirstCall/ -- Wells Fargo & Company reported erroneously yesterday that a definitive agreement has been reached for the company's insurance subsidiary, Wells Fargo Insurance Services, Inc. to acquire Rogers & Belding Insurance Agency Inc. and its subsidiaries of El Paso, Texas. Wells Fargo Insurance Services and Rogers & Belding have not entered into a definitive agreement, but have entered only into a non-binding letter of intent and are in negotiations which, if successful, could lead to a definitive agreement. Wells Fargo regrets the error.

About Wells Fargo Insurance Services

Wells Fargo Insurance Services, formerly Acordia, Inc., is the fifth-largest insurance brokerage and the largest bank-owned insurance brokerage in the United States, with more than 150 offices in 38 states. Its 4,500 insurance professionals place more than $11.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines, and life products. Wells Fargo acquired Acordia in May of 2001.

Wells Fargo & Company is a diversified financial services company with $549 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (http://www.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.

For more information about Wells Fargo Insurance Services, visit http://www.wellsfargo.com/wfis or call Ellen Sievert at 847.209.6672.