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Washington Mutual Completes Sale of Mutual Fund Subsidiary to the Principal Financial Group

SEATTLE--(BUSINESS WIRE)--Jan. 3, 2007--Washington Mutual, Inc. (NYSE:WM) announced today that it has completed the transaction with the Principal Financial Group(R) for the sale of the capital stock of WM Advisors, Inc. -- investment manager of the WM Group of Funds -- and its subsidiaries. The transaction was completed on December 31, 2006.

WaMu will provide more information during its fourth quarter earnings release and conference call with investors on January 17.

About Washington Mutual

Washington Mutual, through its subsidiaries, is one of the nation's leading consumer and small business banks. At September 30, 2006, Washington Mutual and its subsidiaries had assets of $348.88 billion. The company has a history dating back to 1889 and its subsidiary banks currently operate more than 2,600 consumer and small business banking stores throughout the nation. Washington Mutual's press releases are available at http://newsroom.wamu.com.


    CONTACT: Washington Mutual
             Media Contact:
             Alan Gulick, 206-500-2760
             alan.gulick@wamu.net
             or
             Investor Relations Contact:
             Alan Magleby
             New York Office: 212-702-6955
             Seattle Office: 206-500-4148
             alan.magleby@wamu.net

    SOURCE: Washington Mutual, Inc.