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First Union Rail Announces Fleet Acquisition

CHICAGO--(BUSINESS WIRE)--First Union Rail announced today it has acquired 2,370 railcars. The purchase includes a variety of railcars including mill gondolas, flatcars, coal gondolas and hoppers and is valued at more than $100 million.

"We're committed to being a leader in the rail industry"

"We're committed to being a leader in the rail industry," Jack Thomas, head of First Union Rail, said. "Continuing to build and diversify our fleet will help us grow our position in the industry by delivering the best equipment and service."

First Union Rail, a Wells Fargo Company, is one of the largest railcar lessors in North America with a fleet exceeding 90,000 railcars and other intermodal equipment.

About Wells Fargo

Wells Fargo & Company is a nationwide, diversified, community-based financial services company with $1.2 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 10,000 banking stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #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.

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