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Washington Mutual Awards $195,000 To Support Portland's Neighborhood Partnership Fund

PORTLAND, Ore.--(BUSINESS WIRE)--Nov. 20, 2002--Washington Mutual (NYSE:WM) recently announced a $195,000 grant to the Neighborhood Partnership Fund, a nonprofit organization whose mission is to revitalize Portland's inner-city neighborhoods.

The nonprofit strives to provide ideas, resources and training to community development organizations in an effort to create economic opportunities and affordable housing for low-income individuals.

According to Washington Mutual's Vice President, Community Relations, Tim Otani, Washington Mutual's contribution will support the nonprofit's Learning Community initiative, which emphasizes the importance of leadership and organizational development.

"In particular, this grant will assist in supporting leadership and training programs for staff members at community development organizations," said Otani. "The Neighborhood Partnership Fund is a leading provider of technical training to nonprofit builders of affordable housing, a service critical to increasing the availability of affordable housing and improving the economic development of the community."

In addition, Washington Mutual's grant support will help fund a pair of annual executive director retreats co-organized by Washington Mutual and the Neighborhood Partnership Fund. Every year, the individual retreats bring dozens of nonprofit professionals together from Washington and Oregon, while the other draws participation from Idaho, Utah, Phoenix, Denver and Las Vegas. The retreats focus on best practices, networking and leadership development programs.

"The Neighborhood Partnership Fund is instrumental in organizing these retreats and we view this donation as a sound investment in the community," said Otani. "Through participation in the retreats, executive directors help to maintain and strengthen a regional network of colleagues engaged in community development activities."

With a history dating back to 1889, Washington Mutual is a national financial services company that provides a diversified line of products and services to consumers and small- to mid-sized businesses. At September 30, 2002, Washington Mutual and its subsidiaries had assets of $261.10 billion. Washington Mutual currently operates more than 2,500 consumer banking, mortgage lending, commercial banking, consumer finance and financial services offices throughout the nation. Washington Mutual's press releases are available at www.wamu.com.

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CONTACT: Washington Mutual
Darcy Donahoe-Wilmot, 206/377-3635