SEATTLE--(BUSINESS WIRE)--Nov. 7, 2003--Washington Mutual, Inc.
(NYSE:WM) and the Mountains Recreation Conservation Authority (MRCA)
today announced that the sale of Ahmanson Ranch to the MRCA has been
completed, transforming the approximately 2,900-acre property on the
Southeast edge of Ventura County into public parkland.
In a statement, Washington Mutual said, "We are pleased that this
sale allows the state of California and the MRCA to preserve this land
in perpetuity as parkland for the people of California while
simultaneously providing a satisfactory financial outcome for
Mountains Recreation & Conservation Authority Chair Michael Berger
added, "We're delighted to have come to a mutually beneficial
agreement with Washington Mutual on the purchase of the Ahmanson
Ranch. The bank and its predecessors have been excellent stewards of
the land for many years."
As part of the transaction, the MRCA transferred title of the
Ahmanson Ranch property to the Santa Monica Mountains Conservancy. The
transfer of the Ahmanson Ranch property to public open space brings
the total amount of parkland that Washington Mutual and its
predecessor have donated or caused to be purchased and placed into
public ownership to be nearly 13,000 acres.
The transaction is not expected to have a material impact on
Washington Mutual's 2003 financial results.
About Washington Mutual
With a history dating back to 1889, Washington Mutual is a
retailer of financial services that provides a diversified line of
products and services to consumers and commercial clients. At Sept.
30, 2003, Washington Mutual and its subsidiaries had assets of $286.72
billion. Washington Mutual currently operates more than 2,700 consumer
banking, mortgage lending, commercial banking, consumer finance and
financial services offices throughout the nation. Washington Mutual's
press releases are available at www.wamunewsroom.com.
CONTACT: Washington Mutual
Tim McGarry, 213-217-4003
Adrian Rodriguez, 206-377-3268
Dash Stolarz, 888-562-1116 (pager)
SOURCE: Washington Mutual, Inc.