As of the Wells Timberland follow-on offering is not yet effective in Alabama, Maryland, Michigan, Ohio, or Tennessee.

Overview

Wells Timberland commenced operations in 2006 and now manages approximately 308,5601 acres of commercial timberland. Our focus is on acquiring and sustainably managing a diversified portfolio of timberland properties for enhanced overall asset value and cash flow. Wells Timberland is overseen by a highly experienced board of directors, with day-to-day management provided by Wells Timberland Management Organization.

1 As of April 7, 2010; includes 223,300 acres of timberland owned by Wells Timberland and long-term leases for an additional 85,260 acres owned by third parties.

Please read the disclosures below.

DISCLOSURES

Click here to view SEC filings for up-to-the-minute updates to the Wells Timberland portfolio. Click here to view a PDF of the prospectus. Click here to view a risk factor disclosure.

Wells Timberland REIT, Inc. has a limited operating history and to date has made only one acquisition, Mahrt Timberland, a collection of timberlands in Georgia and Alabama. Wells Timberland REIT, Inc. may not achieve the level of diversification described in the prospectus.

As of March 24, 2010, Wells Timberland's total borrowings were approximately 114% of net assets and 50% of the cost of the timber assets before adjustments for depletion and amortization. Wells Timberland is prohibited from making discretionary distributions or redeeming shares under its share redemption program (except for qualified disabilities and death) until certain loans and financial targets are satisfied.

This material contains forward-looking statements, which generally can be identified by our use of words such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," or other similar words. Factors that could cause actual results to vary materially from those expressed in forward-looking statements include fluctuations in interest rates, demand risks, and lack of availability of financing.

Wells Timberland REIT, Inc. is sponsored by Wells Real Estate Funds, Inc. Wells Real Estate Funds, Inc. is affiliated with Wells Investment Securities, Inc. – Distributor – Member FINRA/SIPC.