SEATTLE--(BUSINESS WIRE)--July 15, 2003--Washington Mutual, Inc.
(NYSE:WM) today announced the adoption of a new share repurchase
program following the company's record financial performance in the
Under the new program, approved by Washington Mutual's Board of
Directors, the company is now authorized to repurchase up to 100
million shares of common stock, as conditions warrant. Effective July
15, 2003, this program replaces the company's previous share
"We believe that opportunistic share repurchases represent an
attractive and low-risk strategy for capital deployment," said Kerry
Killinger, the company's chairman, president and chief executive
officer, noting that the company purchased 15.3 million shares of
common stock during the second quarter at an average price of $40.52.
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 small businesses. At June 30,
2003, Washington Mutual and its subsidiaries had assets of $283.20
billion. Washington Mutual currently operates more than 2,650 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.
CONTACT: Washington Mutual, Inc. Alan Gulick, 206-377-3637 (Media)
JoAnn DeGrande, 206-461-3186 (Investors)
Ruthanne King, 206-461-6421 (Investors)
SOURCE: Washington Mutual, Inc.