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WaMu Names Anthony F. Vuoto President of its Credit Card Business

SEATTLE--(BUSINESS WIRE)--Feb. 12, 2007--Washington Mutual, Inc. (NYSE:WM) announced today that Anthony (Tony) F. Vuoto has been named president of the company's credit card business. Vuoto was also appointed to WaMu's Executive Committee and will now report to WaMu President and Chief Operating Officer Steve Rotella.

Vuoto previously served as senior vice president and chief financial officer for WaMu Card Services. The 25-year credit card and banking industry veteran succeeds Joseph W. Saunders who accepted a position as executive chairman of Visa Inc. Saunders will remain on board with WaMu until the end of February to help ensure a smooth transition of responsibilities.

"We're really pleased to have Tony leading our Card Services division," said Kerry Killinger, WaMu's chairman and chief executive officer. "He's played an integral role in helping us build our credit card business into a top tier national card issuer, and we expect the business to continue to grow under his capable leadership."

Killinger added, "I wish to congratulate Joe Saunders on his new role with Visa and to thank him for helping us flawlessly integrate Providian Financial into WaMu. He did an outstanding job managing our credit card business and grooming Tony for this key leadership position. We expect a seamless transition as we continue building the nation's leading consumer and small business bank."

Vuoto joined WaMu in October 2005 through its acquisition of Providian Financial. He had served as vice chairman and chief financial officer at Providian since April, 2002. Prior to joining Providian, he was president and chief operating officer of First USA Bank, a credit card subsidiary of Bank One Corporation. Vuoto also served as president of Bank One's Consumer Lending division.

In addition, Vuoto has held executive positions with Citigroup, including chief financial officer of the company's Europe/North America Card Group, Financial Institutions and Transaction Services Group, and Citicorp's U.S. Bankcard Division.

Vuoto holds an MBA from the Wharton School of Business and a Bachelor of Arts degree from Princeton University.

About WaMu Card Services

WaMu is the nation's sixth largest bank card issuer with more than $23.5 billion in managed receivables as of Dec. 31, 2006. WaMu serves almost 11 million credit card customer accounts.

About WaMu

WaMu, through its subsidiaries, is one of the nation's leading consumer and small business banks. At December 31, 2006, WaMu and its subsidiaries had assets of $346.29 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. WaMu's press releases are available at http://newsroom.wamu.com.


    CONTACT: WaMu
             Media:
             Alan Gulick, 206-500-2760
             alan.gulick@wamu.net
             or
             Investor Relations:
             Alan Magleby, 206-500-4148 (Seattle)
             212-326-6019 (New York)
             alan.magleby@wamu.net

    SOURCE: Washington Mutual, Inc.