SEATTLE--(BUSINESS WIRE)--Nov. 7, 2005--New American Capital, Inc.
(the "Company"), a wholly owned subsidiary of Washington Mutual, Inc.
(NYSE:WM), announced today the final results of its previously
announced cash tender offer for any and all of its outstanding 4%
Convertible Senior Notes due 2008 (the "Notes"). The Notes were
originally issued by Providian Financial Corporation ("Providian
Financial") in May 2003 and were assumed by the Company in connection
with its merger with Providian Financial on October 1, 2005. The
indenture governing the Notes required the Company to make the offer
as a result of the fundamental change of Providian Financial that
resulted from the merger.
The offer for the Notes expired at 5:00 p.m., Eastern time, on
Friday, November 4, 2005. The Company has been advised by J.P. Morgan
Trust Company, National Association, which acted as depositary and
paying agent for the offer, that $5,000 aggregate principal amount of
the Notes were validly tendered pursuant to the terms of the offer
prior to its expiration.
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, 2005, Washington Mutual and its subsidiaries had assets
of $333.62 billion. Washington Mutual currently operates more than
2,500 retail banking, mortgage lending, commercial banking and
financial services offices throughout the nation. Washington Mutual's
press releases are available at www.wamunewsroom.com.
CONTACT: Washington Mutual
Alan Elias, 415-278-4189 (Media)
Jack Carsky, 415-278-4977 (Investor Relations)
SOURCE: Washington Mutual