NEW YORK (Standard&Poor's) Oct. 3, 2008--Standard&Poor's Ratings Services said today that it placed all its long-term ratings on Wells Fargo Corp. on CreditWatch negative, indicating that the ratings could be affirmed or lowered, following Wells Fargo's announcement that it plans to acquire Wachovia Corp. We have affirmed the 'A-1+' short-term ratings. At the same time, we have revised the CreditWatch listing of Wachovia Corp. to CreditWatch Developing from CreditWatch Negative, indicating that the ratings could either be affirmed, raised, or lowered as a result of the acquisition. The short term 'A-1+' rating on Wachovia Bank N.A. remains on CreditWatch Negative. Wells Fargo has announced that it would acquire Wachovia Corp. in a stock transaction valued at
