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Washington Mutual Home Loans Group Promotes Its Leader of Organizational Development and Human Resources
SEATTLE, Dec 11, 2001 (BUSINESS WIRE) -- Washington Mutual (NYSE:WM) Home Loans and Insurance Services Group today announced the promotion of Elizabeth "Beth" A. Wood to executive vice president of Organizational Development and Human Resources.

Previously, Wood served as senior vice president.

"Beth has contributed significantly to our rapid growth and has taken steps to ensure that this growth is a positive experience for our employees," said Craig S. Davis, president of the Home Loans and Insurance Services Group at Washington Mutual. "She has also played an instrumental role in the integration of acquired companies while displaying tremendous leadership, creativity and commitment to Washington Mutual."

Wood will continue to oversee all human resources functions including talent acquisition, organizational learning and employee development, compensation and recognition programs. Leading the Home Loans Group's human resources, Wood is responsible for finding the talent necessary to power a fast growing organization and creating programs aimed at retaining its current employees. She also works closely with the company's acquisition teams.

Wood has more than 15 years' experience in human resources and organizational development and design. In 1999, she joined Washington Mutual as senior vice president of organization development and human resources for Long Beach Mortgage Company, a subsidiary of Washington Mutual. Previously, Wood was vice president and West Coast director of human resources for Bankers Trust Company.

Wood holds a bachelor's degree in finance and a master's degree in human resources from West Virginia University. She currently sits on the California State University at Long Beach Human Resources Advisory Board and is based in Irvine, Calif.

    About Washington Mutual
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 Sept. 30, 2001, Washington Mutual and its subsidiaries had consolidated assets of $223.64 billion. Washington Mutual currently operates approximately 2,300 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.

CONTACT:          Washington Mutual
                  Olivia Riley, 206/377-3636
                  olivia.riley@wamu.net
                  or
                  P. Kevin Horn, 206/377-3268
                  kevin.horn@wamu.net

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