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Washington Mutual Names Jerry Gross New CIO

SEATTLE--(BUSINESS WIRE)--May 29, 2001--Washington Mutual, Inc. (NYSE:WM) today announced that Jeremy V. "Jerry" Gross has been named the company's Chief Information Officer. He will be responsible for directing Washington Mutual's corporate technology strategy.

With more than two decades of information technology management experience, Gross joins Washington Mutual from Sydney, Australia-based Westpac Banking Corp. where he was group executive of technology, operations and eCommerce.

Previously, Gross spent seven years at Countrywide Credit Industries, Calabasas, Calif., where he was managing director and chief technology officer. He was responsible for the management and application of technology and eCommerce across all business lines and subsidiaries, including the Global Home Loans group. While at Countrywide, Gross led the company's technology innovation that resulted in the origination of the first online mortgage loan in the U.S. He also built the first B2B extranet in the nation.

"At Washington Mutual we use technology to improve personalized customer service -- not replace it," said Kerry Killinger, the company's chairman, president and chief executive officer. "Jerry's depth of experience and success in the financial services industry make him ideally suited for directing our `bricks and clicks' approach to serving our customers."

Earlier in his career, Gross held information technology management positions at KMPG and Andersen Consulting (now Accenture). Gross holds a bachelor's degree in accounting and finance from Monash University, Melbourne, Australia.

Gross is expected to assume his new responsibilities in June. He replaces long-time chief information officer S. Liane Wilson who now provides technology consulting services.

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 March 31, 2001, Washington Mutual and its subsidiaries had consolidated assets of $219.93 billion. Washington Mutual currently operates more than 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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CONTACT: Washington Mutual
Media --
Libby Hutchinson, 800/228-9268 or 206/461-2484
libby.hutchinson@wamu.net
or
Investors--
JoAnn DeGrande, 206/461-3186
joann.degrande@wamu.net
or
Ruthanne King, 206/461-6421
ruthanne.king@wamu.net