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WaMu Suspending Relationship with eAppraiseIT

SEATTLE--(BUSINESS WIRE)--Nov. 1, 2007--Washington Mutual, Inc. (NYSE:WM). We are surprised and disappointed by the allegations in the complaint related to eAppraiseIT. We are suspending our relationship with eAppraiseIT until we can further investigate the situation. We have absolutely no incentive to have appraisers inflate home values. In fact, inflated appraisals are contrary to our interests. We use third-party appraisal companies to make sure that appraisals are objective and accurate.

    We have no further comment at this time.

    About WaMu

WaMu, through its subsidiaries, is one of the nation's leading consumer and small business banks. At September 30, 2007, WaMu and its subsidiaries had assets of $330.1 billion. The company has a history dating back to 1889, and its subsidiary banks currently operate approximately 2,700 consumer and small business banking stores throughout the nation. WaMu's press releases are available at

    CONTACT: Washington Mutual, Inc.
             Media Contact:
             Libby Hutchinson, 206-500-2770
             Investor Contact:
             Alan Magleby, 212-702-6955

    SOURCE: Washington Mutual, Inc.