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Washington Mutual Completes Acquisition of Dime Bancorp
SEATTLE, Jan 7, 2002 (BUSINESS WIRE) -- Washington Mutual, Inc. (NYSE:WM) today announced the company has completed its acquisition of Dime Bancorp, Inc.

The acquisition creates a broad-based platform for Washington Mutual's retail banking operations in the greater New York metropolitan area, the nation's largest urban banking market. With the addition of the mortgage operations of Dime's North American Mortgage Company, Washington Mutual has also further strengthened its position as the nation's leading mortgage franchise.

"We're excited to deliver Washington Mutual's distinct, customer-focused banking to the largest concentration of middle-market consumers in the nation," said Kerry Killinger, Washington Mutual's chairman, president and chief executive officer.

The deadline for Dime registered stockholders to return election forms to receive cash in the merger was 5:00 p.m. EST, Jan. 3, 2002. The final allocations of cash and Washington Mutual common stock to be received by each Dime stockholder will be announced by Jan. 10, 2002.

Dime's litigation tracking warrants will remain outstanding but are now exercisable under certain circumstances for shares of Washington Mutual common stock instead of Dime shares.

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 Sept. 30, 2001 Washington Mutual and its subsidiaries had assets of $223.64 billion. Washington Mutual currently operates more than 2,300 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.

CONTACT:          Washington Mutual, Inc.
                  Libby Hutchinson, 206/461-2484
                  JoAnn DeGrande, 206/461-3186
                  Michael Ihnken, 206/461-4263

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