1. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC1 Cara Peck Wells Fargo Funds Management EVP & Head of Retail Distribution

2. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC2 Generations of Opportunity Why Do Their Differences Matter?

3. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC3 Traditionalists

4. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC4 Boomers

5. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC5 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 55-64 65-74 75-84 84+ AGE AVERAGE ASSET LEVEL High Opportunity, Low Competition The Future Mass Affluent Great Xpectations for this Generation

6. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC6 Generation X Source: Gen-X Professionals, Financial Services, and the Web, Celent Communications. Web Is Key

7. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC7 Why Target the Millennials Source: Gen Y Acquisition Strategies: How to Woo, Win, and Keep Them, Javelin Strategy & Research, February 2009. Gen Y Incomes Will Outpace Boomers’ by 2018 Total Annual Income (in trillions) Millennials Baby Boomers

8. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC8 How to Target the Millennials 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.

9. FOR INSTITUTIONAL INVESTOR USE ONLY - NOT FOR USE WITH THE PUBLIC9 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