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John P. McMurray Named WaMu's Chief Enterprise Risk Officer

SEATTLE--(BUSINESS WIRE)--April 29, 2008--Washington Mutual (NYSE:WM) today announced that it has named John P. McMurray chief enterprise risk officer. In his new role, McMurray is responsible for overseeing the company's risk management functions, including credit risk, interest rate risk, market risk, operational risk and audit. He will report to company Chairman and CEO Kerry Killinger and will become a member of WaMu's Executive Committee. McMurray replaces Ron Cathcart, who has left the company.

Previously, McMurray was the company's chief credit officer. He joined WaMu in 2007 from Countrywide Financial Corporation, where he was senior managing director and chief risk officer.

Prior to joining Countrywide, McMurray served in senior leadership positions responsible for credit risk management for a number of mortgage-related companies, including Freddie Mac and Crestar Mortgage Corporation.

McMurray is a Chartered Financial Analyst and a Certified Public Accountant. He earned an M.S. from M.I.T, an M.B.A. from the University of Texas at San Antonio and an undergraduate degree from Trinity University, San Antonio.

About WaMu

WaMu, through its subsidiaries, is one of the nation's leading consumer and small business banks. At March 31, 2008, WaMu and its subsidiaries had assets of $319.67 billion. The company has a history dating back to 1889 and its subsidiary banks currently operate approximately 2,500 consumer and small business banking stores throughout the nation. WaMu's financial reports and news releases are available at www.wamu.com/ir.

Libby Hutchinson, 206-500-2770
Alan Magleby
206-500-4148 (Seattle)
212-702-6955 (New York)