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|Washington Mutual to Resume Share Repurchase Program|
|SEATTLE, Oct 19, 2001 (BUSINESS WIRE) -- Washington Mutual, Inc. (NYSE:WM)
today announced the company intends to resume its share repurchase program.
The company's Board of Directors had previously authorized the repurchase of up to 167 million shares of its common stock, under which 99.5 million shares have been repurchased.
"Washington Mutual's record performance in the third quarter demonstrated the continuing strength of the company's operating fundamentals and overall competitive position," said Kerry Killinger, the company's chairman, president and chief executive officer. "We believe share repurchase to be an attractive vehicle for capital deployment at this time and our management team remains confident in our ability to create shareholder value over the long-term."
The company did not disclose the number of shares it intends to repurchase at this time but will buy back its common stock as conditions warrant.
With a history dating back to 1889, Washington Mutual 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 consolidated assets of $223.64 billion. Washington Mutual currently operates approximately 2,300 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.
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