Wells Real Estate Funds Acquires CMT Headquarters Building

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4-Story Office Building in Downtown Nashville

NORCROSS, Ga. – Dec. 17, 2007 – Wells Real Estate Funds today announced the acquisition of the CMT headquarters building in downtown Nashville, Tenn.

CMT, Country Music Television, is a company of media giant Viacom, and occupies three of the building’s four floors, under a lease to 2012.

The distinctive building sits atop a nine-story parking facility; Wells acquired the office building and the top two parking floors from Ferrari Partners. Terms were not announced.

Wells will market some 29,000 square feet in available office space. The property is centrally located near numerous corporate office buildings, the State Capitol and the historic Ryman Auditorium.

“We think this location provides us with a good leasing opportunity, as well as a strong tenant in CMT, as part of the Viacom family,” said Keith Willby, senior vice president, acquisitions, who represented Wells. “We’re happy to welcome them to the Wells roster of tenants.”

Wells Real Estate Funds is a national real estate investment company based in suburban Atlanta. Since its founding in 1984, Wells has invested more than $11 billion in real estate for more than 200,000 investors. Wells funds include REITs, mutual funds and other commercial real estate investment vehicles. For more information, see www.wellsref.com.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Readers of this press release should be aware that there are various factors that could cause actual results to differ materially from any forward-looking statements made in this release. Factors that could cause or contribute to such differences include, but are not limited to, changes in general economic and business conditions, industry trends, changes in government rules and regulations (including changes in tax laws), and increases in interest rates. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. This is neither an offer nor a solicitation to purchase securities.

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