Wells Fargo expects $3 billion in earnings

Highlights:

* Expects pen down first fourth earnings of approaching $3 billion

* Sees Q1 2009 earnings per portion circular $0.55 including items

* Says expected results embody sum total gross income of $20 billion

* Says wachovia obtaining big expectations

* Sees qtrly combined network charge-offs of $3.3 billion

* Rpt-wells fargo & co wfc.n sees q1 shr circular $0.55/shr after preferred

dividends

* Says tce proportion expected to grow in Q1

* Says tce expected to be up above 3.1 percent of material assets at March 31,

2009

* Says reconfirming $5 billion of expected annual merger-related expense

savings