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Washington Mutual Builds Three New Fantasy Homes in New York City's Times Square

SEATTLE--(BUSINESS WIRE)--Oct. 22, 2001--

"Whatever your dream home is, we have your loan," reads WaMu's most

recent Times Square out of home spectacular billboards;

Company leads mortgage industry in national branding effort

Washington Mutual Home Loans and Insurance Services Group unveiled three new out of home spectacular billboards in New York City's Times Square, surrounding the One Times Square building.

The advertisements include three separate "life-size" homes replicating a child's creation with building blocks, a sand castle and log cabin, accompanied by the tag "Whatever your dream home is, we have your loan" (photos available). The campaign is an important part of the company's effort to support its national brand. Known as the center for business and tourism, the Times Square location was chosen for its high-visibility with business leaders and middle market consumers alike.

"This is more than just a few ads in Times Square -- we are one of the first mortgage lenders to build a national brand," said Genevieve Smith, executive vice president of e-commerce and marketing for Washington Mutual's Home Loans & Insurance Services Group. "We're promoting our brand through all major consumer media outlets -- television, radio, newspapers, taxi cabs, busses and billboards. We take a light-hearted approach to marketing letting our customers know that we'll work with them through the most important purchase of their life. Through this, we hope to build a relationship that will last a lifetime."

Washington Mutual's approach is to work with its customer's personal financial situation to find the best home loan product to meet their needs. Washington Mutual is known for its wide range of home loan products, from innovative adjustable rate mortgages to competitive fixed rate mortgages. This approach is the inspiration for WaMu's brand, "The Power of Yes!(TM)"

"WaMu's home loans group helps deliver the American dream of homeownership with a consumer friendly approach that enables us to put more people into homes while supporting our position as the nation's leading residential lender," said Smith.

The new Washington Mutual billboards can be viewed at 42nd street and Broadway, at One Times Square. As a part of this campaign, Washington Mutual is also displaying advertisements on taxi tops, television, radio and other prominent advertising vehicles. This is the second campaign Washington Mutual has displayed in Times Square. The first billboard was built in August 2000 at West 49th Street and Broadway and included a large cross section of a house (photo available).

About Washington Mutual

With a history dating back to 1889, Washington Mutual (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 Sept. 30, 2001, Washington Mutual and its subsidiaries had consolidated assets of $223.64 billion. Washington Mutual currently operates approximately 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.

Editors Note: Photos are available for download at www.wamu.com/newsroom. Click on "Fantasy Homes in Times Square" press release.

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CONTACT: Washington Mutual
Media
Olivia Riley, 206/377-3636
olivia.riley@wamu.net
or
P. Kevin Horn, 206/377-3268
kevin.horn@wamu.net