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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.


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Libby Hutchinson
Washington Mutual

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JoAnn DeGrande
Washington Mutual