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Kerry Killinger to be Honored by Fred Hutchinson; Washington Mutual Chairman to Receive 2002 Thomas Medal of Achievement Award

SEATTLE--(BUSINESS WIRE)--Jan. 28, 2002--One of this nation's most respected banking executives, Kerry Killinger, has been selected to receive the 2002 Thomas Medal of Achievement from the Fred Hutchinson Cancer Research Center.

The award is given on behalf of the Center's NorthWest Industry Partnership, regional business leaders who are united in the fight against cancer.

The award will be presented at the Hutchinson Center's signature event, the black-tie Thomas Medal Dinner, at the Washington State Convention & Trade Center on Saturday, June 15. The Thomas Medal Dinner has become one of the Northwest's premier fundraising events, typically drawing over 1,000 people. Over the past six years, the event has raised $7 million for cancer research.

Killinger is chairman, president and chief executive officer of Seattle-based Washington Mutual, Inc. (NYSE: WM), a diversified financial services company serving consumers and small- to mid-sized businesses. He chairs the company's 12-person executive committee, which oversees strategic direction of the company.

Under Killinger's leadership, Washington Mutual has grown from a Seattle thrift to an industry giant and is now one of the nation's largest banks. With assets of $242 billion and over 40,000 employees nationwide, Washington Mutual also is the nation's largest mortgage originator and mortgage servicer.

Beginning his career as an investment analyst with Banker's Life Insurance of Nebraska, Killinger moved to the Northwest in 1976 as a securities analyst for brokerage house Murphey Favre Inc. That firm was sold to Washington Mutual in 1982, and Killinger rose quickly to increasingly higher positions. He was named executive vice president for financial management, research, investor relations and corporate marketing in 1983. He was instrumental in positioning Washington Mutual for success in a deregulated environment, helping to turn the bank around to strong profitability. He was elected president in 1988, chief executive officer in 1990, and chairman of the board in 1991. He has led the company through numerous acquisitions, and today Washington Mutual is one of the most well-regarded consumer-oriented financial institutions in the country.

In addition to his business acumen, Killinger is an active community leader, with interest in the arts, education and housing.

He serves on the boards of the Washington Financial League, the Washington Roundtable, the California Business Roundtable, and the University of Washington School of Business Advisory Board. He also is a director of Simpson Investment Company.

Previously he has held leadership roles with the Federal Reserve Board's Thrift Institutions Advisory Council, Greater Seattle Chamber of Commerce, Seattle Repertory Theatre, Seattle Foundation, Downtown Seattle Association, Leadership Tomorrow, America's Community Bankers, Partnership for Learning, the Alliance for Education, and Federal Home Loan Bank of Seattle.

"Kerry Killinger is a true Seattle leader," said NWIP Board of Governors Chair Larry Dickenson, of The Boeing Company. "We certainly admire his hard work and what he's done for Washington Mutual. We also admire him for the leadership he displays in a variety of activities that help make this community an incredibly special place to live."

Killinger was honored with the 1998 Business Leadership Award from the University of Washington Business School. In December 2001, he was awarded the annual Banker of the Year award by American Banker newspaper.

Killinger earned bachelor's and master's degrees in business administration from the University of Iowa, where he graduated with honors.

Named for the Hutchinson Center's Emeritus Director of Clinical Research, E. Donnall Thomas, who won the 1990 Nobel Prize in Medicine for pioneering bone-marrow transplantation, the Medal of Achievement honors those who, like Dr. Thomas, have dedicated their lives to excellence. It is presented each year to a local business leader whose career symbolizes the inspiration, vision and leadership for which Dr. Thomas is renowned. Previous honorees include Frank A. Shrontz (1996), George and Jane Russell (1997), William H. Gates Sr. (1998), Samuel N. Stroum (1999) Jon and Judy Runstad (2000), and Governor and Mrs. Dan Evans (2001).

For more information on the dinner or the award, please contact Kit Herrod at 206-667-5543 or visit www.fhcrc.org.

--30--jc/se*

CONTACT: Renee Klein
206/878-1231
handlerklein@qwest.net
or
Fred Hutchinson Cancer Research Center
Susan Edmonds, 206/667-2896
sedmonds@fhcrc.org