Wells Fargo Preferred Capital Provides $20 Million Revolving Credit Facility to Summit Financial Corporation of Fort Lauderdale, FLA.

Des Moines, Iowa (March 10, 2009)

Wells Fargo Preferred Capital recently added $20 million to the existing Bank of America Business Credit facility of $55 million; bringing the total facility to $75 million. Currently in its 25th year, Summit provides automobile financing to borrowers throughout Florida. Owned by the Wheeler family since 1984, Summit has $76.9 million in auto loans under management.

"We are delighted to provide capital to this growing, successful company," said Tom Murphy, president of Wells Fargo Preferred Capital. "This funding demonstrates Wells Fargo's continued commitment to the industry and its long-term prospects. Summit has successfully competed in its market and has performed well against the competition. We are excited about this opportunity to support Summit and the consumer finance industry."

Al Wheeler, Summit's President added, "We are pleased to have Wells Fargo Preferred Capital as part of our bank group. Bank of America and Wells Fargo's knowledge and expertise in this industry will be helpful to us in dealing with the current economic environment. We feel that our relationship with Wells Fargo and Bank of America will contribute significantly to our long-range growth plans. We look forward to working with them in the future."

Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 11,000 stores, over 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.