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Wells Fargo Funds Management Announces the Launch of New Economic and Market Commentaries

"The development of this strategist team illustrates how the combination of our two fund families is already providing tangible benefits for our clients," said Karla Rabusch, president of Wells Fargo Funds Management, LLC. "This team publishes timely, topical insight and analysis into key areas of the markets and economy, giving clients information that will help them make informed decisions about their investments."

The team is led by three veteran market strategists: James Kochan, John Lynch, and Brian Jacobsen, Ph.D., CFA, CFP, who together have an average of 24 years of experience. Each brings a distinct background and market focus to the commentaries.

• James Kochan is chief fixed-income strategist with 35 years of investment experience. He was named to the Institutional Investor All-America Research Team for bond market strategy during his time at a previous firm. He contributes analysis across the broad spectrum of the fixed-income markets, including Treasury and Agency; Corporate; Municipal; and High Yield.
• John Lynch is chief equity strategist and has 25 years of investment experience. He is a regular contributor to CNBC and Bloomberg TV and has been featured in various media outlets including BusinessWeek, CNN-Money.com, Bloomberg News, The New York Times, and The Wall Street Journal. He blends technical and fundamental market analysis for his insights into the equities market.
• Brian Jacobsen is chief portfolio strategist. He has a Ph.D. in economics, and is also an associate professor at Wisconsin Lutheran College. He provides analysis on recent economic data and on the investing landscape as a whole.

The commentaries include the following:

• Market Roundup: A monthly analysis produced jointly by all three strategists, surveying the equity and fixed-income markets, as well as key economic news and data from the previous month. Clients are welcome to read the most recent edition of this commentary published on March 2, 2010.
• Market Update: A mid-month analysis and outlook piece from John Lynch that provides perspective on the equities market and trends.
• Market Perspectives: Forward-looking market and economic forecasts from all three strategists, as well as guest commentary from top investment experts, portfolio managers, and analysts.
• Economic News and Analysis: Event-driven reports produced by all three strategists that address topical events and provide analysis of the economy, Fed movements, and the latest economic data.

All commentaries can be found at www.wellsfargoadvantagefunds.com on the Individual Investors and Investment Professionals sites. Clients can visit the sites and subscribe to e-mail alerts for each of the commentaries as soon as a new edition is published.

Here's a glimpse of our strategists' recent analyses:

James Kochan:

• "Despite all the news stories about fiscal problems and possible bankruptcy filings by municipalities, the municipal bond market was easily the best-performing fixed-income market last month. Moreover, the A and BBB credit sectors significantly outperformed the AAA sector. Predictions of widespread defaults by municipalities are likely to prove to have been overdone. History shows that even during severe recessions, municipalities rarely default."

John Lynch:

• "We believe the environment for inflation and interest rates will largely remain favorable for equity investors over the next year. As economic and profit gains continue in the first half of 2010, though, we believe the Federal Reserve will begin to remove the emergency stimulus from monetary policy. Similar to the enactment of emergency measures, we look for the Fed to be just as creative in this removal of easy credit, such as mild interest rate increases, balance sheet management, etc...While last week's increase in the Fed's discount rate may be the first shot across the bow, we suspect equity investors should prepare for policy that is simply less accommodative, rather than more restrictive, in the months and quarters ahead."

Brian Jacobsen:

• "Greece dominated the headlines in February, and the euro continued its slide against the dollar as the stability of the euro-zone continued to be questioned. In our view, Greece does not have a credit problem, it has a credibility problem: is it committed to making the tough choices necessary to bring about fiscal balance? In a way though, this is the same issue that just about every developed nation has to wrestle with this year. Countries like the United States, the United Kingdom, Japan, Italy, and Spain all have loads of debt. This debt is not necessarily a bad thing, provided it is spent on productive resources."

The views expressed are as of March 1, 2010, and are those of Brian Jacobsen, James Kochan, John Lynch, and Wells Fargo Funds Management, LLC. The information and statistics in this report have been obtained from sources we believe to be reliable but are not guaranteed by us to be accurate or complete. Any and all earnings, projections, and estimates assume certain conditions and industry developments, which are subject to change. The opinions stated are those of the authors and are not intended to be used as investment advice. The views are subject to change at any time in response to changing circumstances in the market and are not intended to predict or guarantee the future performance of any individual security, market sector or the markets generally, or any mutual fund.

The ratings indicated are from Standard & Poor's and/or Moody's Investors Service. Credit quality ratings apply to corporate and municipal bond issues. Standard and Poor's rates the creditworthiness of bonds, ranging from AAA (highest) to D (lowest). Ratings from A to CCC may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the rating categories. Moody's rates the creditworthiness of bonds, ranging from Aaa (highest) to CC (lowest). Ratings Aa to B may be modified by the addition of a number 1 (highest) to 3 (lowest) to show relative standing within the ratings categories.

Carefully consider a fund's investment objectives, risks, charges, and expenses before investing. For a current prospectus, containing this and other information, visit www.evergreeninvestments.com for Evergreen Funds and www.wellsfargo.com/advantagefunds for Wells Fargo Advantage Funds. Read the prospectus carefully before investing.

Evergreen Investment Management Company, LLC, is a subsidiary of Wells Fargo & Company and is an affiliate of Wells Fargo & Company's broker/dealer subsidiaries. Evergreen mutual funds are distributed by Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an affiliate of Wells Fargo & Company.

Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Managed Account Services and Wells Fargo Advantage Funds. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the Funds. The Funds are distributed by Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an affiliate of Wells Fargo & Company. The organization has more than $179.1 billion in portfolio assets under management (as of December 31, 2009). Wells Fargo Advantage Funds is a registered trademark of Wells Fargo Funds Management, LLC. For more information on Wells Fargo Advantage Funds, please visit http://www.wellsfargo.com/advantagefunds. 121329 03-10

NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

Wells Fargo & Company
Emma Gutierrez, 415-222-0102
emma.gutierrez@wellsfargo.com