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|Bank United Shareholders Approve Merger with Washington Mutual|
|SEATTLE - In a special meeting held today, Bank United Corp. (NASDAQ:
BNKU) shareholders overwhelmingly approved the company's pending
merger with Washington Mutual, Inc. (NYSE: WM). |
Under the terms of the agreement, each share of Bank United common stock will be converted into 1.3 shares of Washington Mutual common stock, which closed at $50.84 on Wednesday, Feb. 7, 2001.
The merger has received regulatory approvals and is expected to be completed shortly.
Earlier in the week, Washington Mutual completed its tender offer for Bank United's Series A and Series B preferred stock.
With a history dating back to 1889, Washington Mutual, Inc. (NYSE:WM) is a national financial
services company that provides a diversified line of products and services to consumers and
small- to mid-sized businesses. At December 31, 2000, Washington Mutual and its subsidiaries had
assets of $194.72 billion. Washington Mutual currently operates more than 2,000 consumer banking,
mortgage lending, commercial banking, consumer finance and financial services offices throughout
the nation. Washington Mutual's news releases are available at www.wamu.com.