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MEDIA:
Daphne Larkin
(415) 396-3606
Exhibit 99
WELLS FARGO & COMPANY AMENDS STOCK REPURCHASE AUTHORITY
SAN FRANCISCO, Sept. 26, 2000 - Wells Fargo & Company's (NYSE: WFC) Board of
Directors today, in conjunction with the previously announced merger with
First Security Corporation to be accounted for as a pooling of interests,
authorized an amendment to the February 22, 2000 authorization to repurchase
Wells Fargo & Company's issued and outstanding common stock.
Today's action limits purchases to those that are consistent with Wells
Fargo's systematic repurchase plan and stock issuance requirements for
acquisitions accounted for as purchases. As a result, the previously
authorized acquisition of up to 81 million shares has been reduced to a total
of 30 million shares, leaving authority to purchase approximately 13 million
shares. Nearly 17 million shares have already been acquired, consistent with
the Company's systematic repurchase plan and stock issuance requirements for
acquisitions accounted for as purchases.
Wells Fargo & Company is a $234 billion diversified financial services
company providing banking, insurance, investments, mortgage and consumer
finance through about 5,300 stores, the Internet and other distribution
channels across North America, including all 50 states, and elsewhere
internationally.
