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Washington Mutual Extends Military Leave for Employees

SEATTLE--(BUSINESS WIRE)--April 3, 2003--To further support Washington Mutual employees currently serving on active duty with the military, the company today announced an extension of its military leave policy.

Effective immediately, the company is extending the length of time the company will make up the salary difference between an employee's base pay and military pay to cover an employee's active duty.

"Now, more than ever, our employees are thinking about their colleagues who are serving their country," said Kerry Killinger, Washington Mutual's chairman, president and chief executive officer. "We can only imagine the challenges their families face on a daily basis, and we hope that this extension will give them some peace of mind during these difficult times," said Killinger.

Earlier this week, Washington Mutual announced a package of lending and banking services and fee waivers to provide support to its customers with spouses and partners currently serving in the military. In addition, the company's financial centers throughout the U.S. are accepting donations into special accounts set up to assist the American Red Cross' Armed Forces Emergency Fund to help families in the U.S. while their loved ones are serving in the military, and Mercy Corps' Iraqi Children's Fund, which provides humanitarian aid to Iraqi families displaced due to the conflict in the Middle East.

About Washington Mutual

With a history dating back to 1889, Washington Mutual (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, 2002, Washington Mutual and its subsidiaries had consolidated assets of $268.30 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.

    CONTACT: Washington Mutual
             Libby Hutchinson, 206/461-2484 or 800/228-9268

    SOURCE: Washington Mutual