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Washington Mutual Selects MasterCard for Debit Cards

SEATTLE & PURCHASE, N.Y.--(BUSINESS WIRE)--Jan. 5, 2005--Washington Mutual, Inc. (NYSE:WM), one of the nation's leading retailers of financial services, and MasterCard International today announced that Washington Mutual will move the company's principal payment card programs to MasterCard. After the conversion to MasterCard, which is expected to begin near the end of 2005, Washington Mutual will issue MasterCard(R) debit cards that can be used at signature and PIN point-of-sale locations, and at all MasterCard ATMs.

The terms of the agreement were not disclosed.

Washington Mutual currently operates nearly 1,900 retail banking offices and more than 3,200 ATMs in fourteen states across the country. The company serves 7.9 million retail banking households, which includes approximately 9 million signature debit cardholders and 1.5 million PIN-only cardholders.

"We're pleased to be working with MasterCard to offer our customers a great way to purchase what they want and need," said Ken Kido, executive vice president and manager, product management and operations, Washington Mutual.

"Washington Mutual transformed the consumer banking experience by energizing bank branches as never before. Together, we will transform the way consumers pay for everything that matters," said Ruth Ann Marshall, president of the Americas, MasterCard International. "We are excited to be the debit card of choice for a financial services pioneer."

MasterCard debit cards are accepted at an estimated 5.6 million merchants in the United States, at nearly 1.5 million PIN terminals, and at approximately 383,000 ATM locations. Collectively, acceptance for the family of MasterCard brands is unsurpassed worldwide -- 24 million locations and growing.

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 September 30, 2004, Washington Mutual and its subsidiaries had assets of $288.83 billion. Washington Mutual currently operates more than 2,300 retail banking, mortgage lending, commercial banking and financial services offices throughout the nation. Washington Mutual's press releases are available at www.wamunewsroom.com.

About MasterCard International

MasterCard International is a leading global payments solutions company that provides a broad variety of innovative services in support of our global members' credit, deposit access, electronic cash, business-to-business and related payment programs. MasterCard International manages a family of well-known, widely accepted payment card brands including MasterCard(R), Maestro(R) and Cirrus(R) and serves financial institutions, consumers and businesses in over 210 countries and territories. The MasterCard award-winning Priceless(R) advertising campaign is now seen in 97 countries and in 47 languages, giving the MasterCard brand a truly global reach and scope. For more information go to www.mastercardinternational.com.


    CONTACT: Washington Mutual
             Libby Hutchinson, 206-461-2484
             libby.hutchinson@wamu.net
             or
             MasterCard International
             Barbara Coleman, 914-249-6607
             Barbara_coleman@mastercard.com

    SOURCE: Washington Mutual