EXHIBIT 12(b)
WELLS FARGO & COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED DIVIDENDS

	Year ended December 31,
(in millions)	2003		2002		2001		2000		1999
Earnings, including interest on deposits (1):
Income before income tax expense and effect of change in accounting principle	$	9,477	$	8,854	$	5,460	$	6,526	$	6,323
Fixed charges		3,606		4,155		6,893		8,022		5,943
	$	13,083	$	13,009	$	12,353	$	14,548	$	12,266
Preferred dividend requirement	$	3	$	4	$	14	$	17	$	35
Ratio of income before income tax expense and effect of change in accounting principle to net income before effect of change in accounting principle		1.53		1.55		1.60		1.63		1.58
Preferred dividends (2)	$	5	$	6	$	22	$	28	$	55
Fixed charges (1):
Interest expense		3,411		3,977		6,741		7,860		5,818
Estimated interest component of net rental expense		195		178		152		162		125
		3,606		4,155		6,893		8,022		5,943
Fixed charges and preferred dividends	$	3,611	$	4,161	$	6,915	$	8,050	$	5,998
Ratio of earnings to fixed charges and preferred dividends (3)		3.62		3.13		1.79		1.81		2.05
Earnings excluding interest on deposits:
Income before income tax expense and effect of change in accounting principle	$	9,477	$	8,854	$	5,460	$	6,526	$	6,323
Fixed charges		1,993		2,236		3,340		3,933		2,777
	$	11,470	$	11,090	$	8,800	$	10,459	$	9,100
Preferred dividends (2)	$	5	$	6	$	22	$	28	$	55
Fixed charges:
Interest expense		3,411		3,977		6,741		7,860		5,818
Less interest on deposits		1,613		1,919		3,553		4,089		3,166
Estimated interest component of net rental expense		195		178		152		162		125
		1,993		2,236		3,340		3,933		2,777
Fixed charges and preferred dividends	$	1,998	$	2,242	$	3,362	$	3,961	$	2,832
Ratio of earnings to fixed charges and preferred dividends (3)		5.74		4.95		2.62		2.64		3.21

(1)	As defined in Item 503(d) of Regulation S-K.
(2)	The preferred dividends were increased to amounts representing the pretax earnings that would be required to cover such dividend requirements.

(3) These computations are included herein in compliance with Securities and Exchange Commission regulations. However, management believes that fixed charge ratios are not meaningful measures for the business of the Company because of two factors. First, even if there was no change in net income, the ratios would decline with an increase in the proportion of income which is tax-exempt or, conversely, they would increase with a decrease in the proportion of income which is tax-exempt. Second, even if there was no change in net income, the ratios would decline if interest income and interest expense increase by the same amount due to an increase in the level of interest rates or, conversely, they would increase if interest income and interest expense decrease by the same amount due to a decrease in the level of interest rates.