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Washington Mutual Issues Statement on Second-Quarter Earnings

SEATTLE--(BUSINESS WIRE)--July 17, 2001--Washington Mutual, Inc. (NYSE:WM) has confirmed the following information related to its second quarter 2001 earnings in light of market activity and news reports from earlier today:

"Washington Mutual generated record quarterly earnings of $798.2 million for the second quarter of 2001, up sharply from second-quarter 2000 earnings of $490.8 million. On an earnings-per-share basis, second-quarter 2001 earnings were a record 91 cents per diluted share, up 49 percent from 61 cents per diluted share one year ago.

"The company will release complete details of its second quarter results after the market closes on Tuesday. The company will have no further comment until results are released."

--30--KS/se*

CONTACT: Washington Mutual
Media Contact
Libby Hutchinson, 1-800/228-9268 or 206/461-2484
libby.hutchinson@wamu.net
OR
Investor Contacts
JoAnn DeGrande, 206/461-3186
joann.degrande@wamu.net
OR
Ruthanne King, 206/461-6421
ruthanne.king@wamu.net