Wells Fargo, Turning Point Magazine Bestow 3rd Annual 'Living History Maker Entrepreneur Award' to Pioneering African American Businesswoman

    SAN FRANCISCO, June 30 /PRNewswire-FirstCall/ -- In recognition of the
 continued success of African American small businesses, Wells Fargo and
 Turning Point Magazine presented the 3rd annual "Living History Maker
 Entrepreneur Award" on June 24th.  The 2005 winner is Judi Henderson-Townsend,
 president and founder of Mannequin Madness.
     Occupying a unique place in the recycling industry, Mannequin Madness
 provides retailers an alternative to throwing away unwanted mannequins by
 renting and reselling recycled mannequins to customers all over the world.
 Judi's continual contributions to the environment, as well her strong
 entrepreneurial spirit, have earned her community recognition and awards
 including the "San Francisco Emerging Entrepreneur of the Year" and a special
 achievement award from the Environmental Protection Agency.
     Judi received the award and a $5,000 check at a special evening reception
 at the 8th Annual African American Business Summit (2005) held at the Palm
 Springs, Westin Mission Hills Resort and Spa.
     "It's amazing to see how far we've come since we started this business
 four years ago," said Henderson-Townsend. "In the beginning, we were only
 re-selling used mannequins, but in 2004, Wells Fargo contacted us with an
 opportunity that allowed us to acquire additional inventory. After buying the
 inventory, we were able to expand our customer base and sell both used and new
 mannequins. This is a great honor, and we are touched to be recognized for our
 hard work and commitment to building a successful, environmentally-conscious
 business."
     The Wells Fargo / Turning Point Living History Makers Entrepreneur Award
 showcases and honors the extraordinary achievements of African American
 business owners.  The award recipient was chosen from applicants across the
 country, and selected based on her company's business innovation, success,
 growth, and community service.
     "Judi Henderson-Townsend reflects the crucial role African American-owned
 businesses play in driving the American economy, and is a great testament to
 the strength and diversity of this market," said Brenda Ross-Dulan, head of
 Wells Fargo's L.A. Metro regional banking market, and national spokesperson
 for Wells Fargo's African American Business Services Program. "African
 American business owners are thriving, and we will continue recognizing and
 celebrating their tremendous efforts."
     Wells Fargo launched the African American Business Services program in
 1998 to provide outreach, education and increased access to capital among
 African American business owners. The program focuses on forming community
 alliances, investing in primary research, and sponsoring key events in the
 diverse communities where African Americans live and work.
     Measuring its progress with a public goal to lend $1 billion to African
 American businesses within twelve years, Wells Fargo has lent more than
 $580 million since the program's inception.
     "We are honored, along with our partner Wells Fargo, to recognize Judi
 Henderson-Townsend and all of the outstanding African American business owners
 nationwide," said Patricia A. Means, publisher of Turning Point Magazine and
 founder of the African American Business Summit. "We are confident that the
 future will only bring continued success for this fast-growing segment."
 
     Turning Point is a leading information and resource provider for African
 American small business owners nationally, and produces the annual African
 American Business Summit, the largest business-to-business solution and
 opportunity-based conference for African American entrepreneurs in the Western
 United States. The annual summit brings together minority business owners,
 procurement officers and corporate executives and decision-makers in an
 environment that fosters the exchange of information and strategies that will
 lead to the expansion of black business.
 
     Wells Fargo & Company is a diversified financial services company with
 $436 billion in assets, providing banking, insurance, investments, mortgage
 and consumer finance to more than 23 million customers from more than
 6,000 stores and the internet (wellsfargo.com) across North America and
 elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the
 United States to receive the highest possible credit rating, "Aaa," from
 Moody's Investors Service.
     Providing financial products and services to more than one million
 businesses with annual sales up to $20 million in all 50 states, Puerto Rico
 and Canada, Wells Fargo is the #1 lender to small businesses in the United
 States in total dollar volume according to the most recent CRA data (2003).
     The second largest national SBA lender in dollars, Wells Fargo is an SBA
 Preferred Lender in 28 states, and originated 3,555 loans for $495 million in
 2004.  Wells Fargo has also been ranked the number one SBA 504 lender
 nationally for the last two years. Its targeted business services programs
 provide outreach and education to women, African American, Latino, and Asian
 business owners about financial services. Since 1995, Wells Fargo has loaned
 more than $25 billion to women and minority business owners.
 
 

SOURCE  Wells Fargo & Company