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Washington Mutual Names Barbara Smith to Community Development Officer

PORTLAND, ORE., Aug 26, 2003 (BUSINESS WIRE) -- Washington Mutual (NYSE:WM), a retailer of consumer financial services, today announced that Barbara Smith has been named as a vice president and community development officer for the company's Community and External Affairs Division.

In her new position, Smith assumes responsibility for working with the nonprofit community in Oregon and Southwest, Central and Eastern Washington. She will focus her efforts on developing relationships with the nonprofit community and bank partners to assist the community with their financial needs. Smith is based in Portland.

"Barbara's extensive experience in banking and professional relationships with the non-profit community make her a key addition to our company," said Brian Stewart, first vice president and community development officer for Washington Mutual. "Barbara has a broad and proven success record in assisting the nonprofit community, and will add outstanding leadership as we continue to build and enhance our community development resources department."

Smith brings over 20 years of banking experience to her new position. Prior to joining Washington Mutual, Smith served as a vice president and community development manager at U.S. Bank, where she worked for 13 years. Throughout her career, Smith has taken an active role in community volunteer initiatives. In particular, she was involved with the Portland Community Reinvestment Initiative (PCRI), a nonprofit organization specializing in affordable housing and associated services for residents of Portland. In recognition of her involvement the PCRI created an award in 2001 and named it in her honor. The annual Barbara B. Smith Community Support Award is presented to an individual who has displayed significant commitment and has provided outstanding support to local community development organizations.

Smith attended Arizona State University, Tempe, where she studied business and early childhood education. She is a member of the American Banker's Association and the Hispanic Chamber of Commerce.

About the Community and External Affairs Division

Helping to build strong, vibrant communities wherever Washington Mutual does business is integral to the company's long-term strategy. The Community and External Affairs Division oversees all community investment and development activities to ensure that Washington Mutual fulfills its community goals in the most strategic way possible. The Community and External Affairs Division manages, tracks and reports on all community-related endeavors, including grants, giving programs, volunteerism and the company's 10-year, $375 billion lending and investment commitment. The division works with a variety of groups that carry out community enrichment nationwide, such as the company's business units and partners, government agencies, schools, affordable housing groups and nonprofit community organizations.

About Washington Mutual

With a history dating back to 1889, Washington Mutual is a retailer of financial services that provides a diversified line of products and services to consumers and small businesses. At June 30, 2003, Washington Mutual and its subsidiaries had consolidated assets of $283.20 billion. Washington Mutual currently operates more than 2,650 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.

SOURCE: Washington Mutual

Washington Mutual
Media Contact:
Darcy Donahoe-Wilmot, 206-377-3635
darcy.donahoe-wilmot@wamu.net
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