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Seattle Area Schools Receive $29,975.00 in ''WaMoola'' Funds; Washington Mutual Donates More Than $1.4 Million to Schools Nationwide

SEATTLE--(BUSINESS WIRE)--May 4, 2001--Seattle area schools received $29,975.00 from Washington Mutual's WaMoola for Schools(TM) program which this year provided over $1.45 million in financial support to K-12 public schools across the country.

Each year, for every new checking account opened at Washington Mutual, the bank donates $1 to local schools and school districts. In 2000, more than 1.4 million people opened new checking accounts translating into a record level of school funding offered under the program.

"We highly respect the hard work, dedication and expertise of our teachers," said Washington Mutual Chairman, President and CEO Kerry Killinger as he presented Seattle's WaMoola funds at a dinner honoring Seattle School District teachers and principals last night. "We believe that investments in the good work of teachers will pay the greatest dividends for kids," he added.

Over the years, Washington Mutual has donated millions of WaMoola dollars to schools since the program began in 1991, with more than $4 million raised in just the last four years. WaMoola for Schools funds are awarded to schools or school districts in local communities based on the number of checking accounts opened in the area. In Washington state, the WaMoola for Schools fund is making available $150,713.00 to local schools.

Washington Mutual also supports public education through foundation and corporate grants. Employee volunteers from Washington Mutual's CAN! (Committed Active Neighbor) program encourage financial literacy by visiting local schools with innovative classroom presentations on subjects ranging from credit management to the stock market. Washington Mutual's 78-year-old School Savings program offers elementary students free, interest-bearing savings accounts. Students can make deposits to their accounts at school during weekly on-campus "Bank Days." More than $8 million dollars have been deposited in the School Savings program, one quarter at a time.

With a history dating back to 1889, Washington Mutual, Inc. (NYSE:WM) 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 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 news releases are available at www.wamu.com.

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CONTACT: Washington Mutual
Laura Jones, 206/377-2153
Mary Kelley, 206/377-6878