FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 1

Cara Peck

Wells Fargo Funds Management EVP & Head of Retail Distribution

FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 2

Generations of Opportunity

Why Do Their Differences Matter?

FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 3

Traditionalists

High-touch customer service, relevance, and respect

Be simple, but not insulting

Use images or photos that resemble them

Acknowledge their wisdom in life

Keep others in the picture

Be active in the community

FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 4

Boomers

Face-to-face contact preferred for Older Boomers

Reach Younger Boomers in social networks and online communities

Use story-telling techniques to relate to their experiences

Increasing reliance on the Web to gather information

Educate them about retirement planning because Boomers view Social Security as a main source of funds.

FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 5

Generation X

Source: Gen-X Professionals, Financial Services, and the Web, Celent Communications,

Area of Greatest Focus for Wealth Management Services

25-34

35-44

45-54

55-6465-74

75-84

84+

AGE

AV

ER

AG

E A

SS

ET

LE

VE

L

High Opportunity,

Low Competition

The Future Mass Affluent

Great Xpectations for this Generation

FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 6

Generation X

6%

36%

47%

6% 5%

11%

39%

17%

32%

2%

13%

23%21%

33%

9%

0%

10%

20%

30%

40%

50%

In Person Phone Web Email Live Online Chat

First Second Third

Source: Gen-X Professionals, Financial Services, and the Web, Celent Communications.

Web Is Key

FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 7

Why Target the Millennials

Source: Gen Y Acquisition Strategies: How to Woo, Win, and Keep Them, Javelin Strategy & Research, February 2009.

$2.77

$3.39$3.25$3.51

$1.43

$2.28

$0.00

$1.00

$2.00

$3.00

$4.00

2008 2013 2018

Gen Y Incomes Will Outpace Boomers’ by 2018

To

tal

An

nu

al I

nco

me

(in

tri

llio

ns)

Millennials

Baby Boomers

FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 8

How to Target the Millennials

4

5

6

9

10

10

17

18

24

33

49

0 10 20 30 40 50

Source: Developing Financial Relationships with Generation Y, Synergistics Research, October 2008.

Parent/relatives

Friends/coworkers

Financial rep

Financial planner

Search engine

Broker

Accountant

Online source

Online chat

Insurance agent

Attorney

Potential Sources of Financial Advice

They spend the most time online. Focus on Internet channels to reach this group.

Saving for the future and understanding investments are the top two financial topics that interest Millennials.

Engage parents and friends of Millennials, as they often turn to these two groups for financial advice.

FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC 9

Disclosure Statements

Carefully consider a fund's investment objectives, risks, charges, and expenses

before investing. For a current prospectus, containing this and other information,

call 1-888-877-9275 or visit www.wellsfargo.com/advantagefunds. Read it

carefully before investing.

Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo

& Company, provides investment advisory and administrative services for 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. 117215 07-09