SEATTLE, Washington - Washington Mutual (NYSE: WM) has been named one of the "Best Companies for Minorities" by Fortune magazine for the third consecutive year.

"We strive to achieve a workforce that fully reflects the diversity of the communities we serve because not only is it the right thing to do, but it makes good business sense," said Kerry Killinger, Washington Mutual's chairman, president and CEO. "We are committed to diversity and make it an integral part of our business - from our intern and management training programs, to our $375 billion Community Commitment which will help more minority borrowers become homeowners."

"This year we even helped create a large minority-owned business," said Carolyn Crowson, manager of national supplier diversity at Washington Mutual. "We helped four building maintenance vendors develop a strategic alliance and operate nationally as Service Everywhere LLC. We're their first customer."

Out of the top 50 companies listed in Fortune, Washington Mutual placed 27th based on criteria such as minority recruitment and retention, representation among the company's board of directors and senior management, minority-based corporate giving, purchasing with minority-owned businesses and overall minority representation among employees. Of its more than 42,000 employees nationwide at the end of December 2001, WaMu employed more than 16,400 minority employees, representing 39 percent of its total workforce. More than 28 percent of WaMu's officials and managers are minorities.

About Washington Mutual

With a history dating back to 1889, Washington Mutual is a national financial services company that provides a diversified line of products and services to consumers and small- to mid-sized businesses. At March 31, 2002, Washington Mutual and its subsidiaries had assets of $275.22 billion. The company currently operates more than 2,400 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.

Washington Mutual, Inc.

Washington Mutual, Inc.

The WaMu Difference You'll know it right away: We're really not like other banks. We've always been about making things better for people - both for our customers and our neighbors. When you visit one of our Financial Centers, call us or find us online, you can count on Washington Mutual for real help from real people - and for products with real benefits.

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