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The Principal Charity Classic Renews Presenting Sponsorship

Wells Fargo extends presenting sponsorhip for 2011

(West Des Moines, Iowa) – Wells Fargo has extended its agreement to remain the presenting sponsor of The Principal Charity Classic® through 2011.

“The Principal Charity Classic is a first-class event that has a tremendous impact on the local community, both in terms of dollars spent to boost the local economy and dollars donated to support charities serving children in the Des Moines area,” said Scott Johnson, regional president of Wells Fargo in Iowa. “As a company that cares deeply about our community, we – along with our 12,000 team members who live and work here – look forward to continuing our support of the tournament as the presenting sponsor.”

The 2010 Principal Charity Classic received the “Players Award,” ranking it the number one stop for Champions Tour professionals, and gave a record $620,000 to local children’s charities. In just four years, the tournament has distributed at total of $2.3 million to five “FORE Our Kids” charities in Iowa, funding efforts that have benefited thousands of children across the state.

“We’re excited to continue a great partnership with Wells Fargo,” said Mary O’Keefe, chair, The Principal Charity Classic Board. “The 2010 Principal Charity Classic was a year for the record books. We saw our largest crowds to date, attracted a world-class field of players and contributed a record amount to the bottom line of this tournament, children’s charities. We’ll use that momentum to take this top golf and community event to new levels.”

In addition to being a benefit for local charities, the PGA Tour and an Iowa State University study estimates the tournament generated an economic impact of $20.8 million for the region in 2010, including increased business for area hotels, restaurants, shopping establishments and other entertainment venues.

This year’s tournament will be held June 1–5 at Glen Oaks Country Club. One-day tickets are available for $15 at principalcharityclassic.com or by calling 515-279-4653. Children 15 and under are admitted free with a ticketed adult. For more information, visit www.principalcharityclassic.com.

About Wells Fargo

In Iowa, Wells Fargo has 13,000 team members providing financial services through more than 100 locations (banking, mortgage and brokerage). Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With approximately 280,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

About the Principal Financial Group

The Principal Financial GroupÒ (The Principal ®) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $318.8 billion in assets under management and serves some 19.1 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com. For more news and insights from The Principal, connect with us on Twitter at: http://twitter.com/ThePrincipal.

About The Principal Charity Classic

The Principal Charity Classic is an annual Champions Tour event at Glen Oaks Country Club in West Des Moines, Iowa. The Greater Des Moines Community Foundation plays host to the event, which is focused on philanthropic giving for designated “FORE Our Kids” charities: Blank Children’s Hospital, Bravo Greater Des Moines, Greater Des Moines Community Foundation, United Way of Central Iowa and Variety-The Children’s Charity. The 2011 event will be played June 1 – 5. For more information, visit www.principalcharityclassic.com.

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