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Portland, Ore. Schools Receive Over $120,000 in ''WaMoola'' Funds

PORTLAND, Ore.--(BUSINESS WIRE)--Nov. 14, 2002--Portland schools received $120,337 from the Washington Mutual WaMoola for Schools(TM) program, which provided over $1.45 million in financial support to K-12 public schools across the country.

Last year, for every new checking account opened at Washington Mutual, the bank donated $1 to $5 to local schools and school districts. This year the program generated more than $4 million for schools nationwide, including 120,337 in Portland.

"By setting aside a donation for every new checking account, we're able to say thank you to our customers who have made the decision to do business with Washington Mutual," said Washington Mutual Pacific Northwest Group Manager, Ken Leander. "We also believe teachers make a critical difference in student learning and are therefore dedicated to supporting our nation's teachers as part of our overall commitment to improving K - 12 public education."

Over the years, Washington Mutual has donated millions of WaMoola dollars to schools since the program began in 1991, with more than $8 million raised in just the last four years. WaMoola for Schools funds are awarded to schools or school districts in local communities based on the number of checking accounts opened in the area.

Washington Mutual also supports public education through foundation and corporate grants. Employee volunteers from Washington Mutual's CAN! (Committed Active Neighbor) program encourage financial literacy by visiting local schools with innovative classroom presentations on subjects ranging from credit management to the stock market.

Washington Mutual's 80-year-old School Savings program offers elementary students free, interest-bearing savings accounts. Students can make deposits to their accounts at school during weekly on-campus "Bank Days." More than $8 million dollars have been deposited in the School Savings program, one quarter at a time.

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.

--30--CER/se*

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