SEATTLE, WA - Washington Mutual, a retailer of consumer financial services, announced that it has named first vice president Peter R. Villegas national manager of Emerging Markets for the Community & External Affairs Division at Washington Mutual.

In this role, Villegas will work to understand the needs of national non-profit organizations, community groups, civic organizations and community leaders that support and reach underserved, emerging markets. Washington Mutual identifies these emerging markets as consumers and small business owners of diverse ethnic and racial backgrounds; those of low-to moderate-income; immigrants; senior citizens; women business owners; and the gay and lesbian community. He will solicit feedback from key leadership that will strengthen the company’s products and will also help manage the outreach in support of critical programs. In addition, Villegas will be the primary liaison between these community organizations representing emerging markets and the company’s public policy advocacy team.

In addition, Villegas plays a role in the company’s new market entry efforts by developing advisory and business relationships with local community groups and serves as a strategic consultant for the company’s outreach to diverse communities.

“Peter will play a critical role in the company’s Emerging Markets efforts by managing key national relationships and playing a strategic role in the company’s outreach to underserved communities,” said Benson Porter, senior vice president of the Community and External Affairs Division at Washington Mutual. “Our goal is to help families and business owners of the nation’s underserved communities build wealth and achieve their financial dreams. This includes developing programs to meet their lending, financial literacy and other financial services needs, and our Emerging Markets team will help direct this development.”

Villegas has more than 15 years of experience in the financial services industry. Prior to joining Washington Mutual in 1994, he served as the community outreach coordinator for American Savings Bank and he began his career as a bank teller. Villegas has received numerous awards, including the 2003 Corporate Responsibility Award from Central America Resource Center (CARECEN). He was also named one of the most influential Hispanics in Orange County by the Orange County Business Journal.

About the Community and External Affairs Division

Helping to build strong, vibrant communities wherever Washington Mutual does business is integral to the company’s long-term strategy. The Community and External Affairs Division oversees all community investment and development activities to ensure that Washington Mutual fulfills its community goals in the most strategic way possible. The Community and External Affairs Division manages, tracks and reports on all community-related endeavors, including grants, giving programs, volunteerism and the company’s 10-year, $375 billion lending and investment commitment. The division works with a variety of groups that carry out community enrichment nationwide, such as the company’s business units and partners, government agencies, schools, affordable housing groups and nonprofit community organizations.

About Washington Mutual

With a history dating back to 1889, Washington Mutual is a retailer of consumer financial services that provides a diversified line of products and services to consumers and small- to mid-sized businesses. At March 31, 2003, Washington Mutual and its subsidiaries had assets of $276.97 billion. Washington Mutual currently operates more than 2,500 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.

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