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Washington Mutual Releases 2003 Community Annual Report

Washington Mutual Releases 2003 Community Annual Report

Published 05-20-04

Submitted by Washington Mutual, Inc.

SEATTLE - Washington Mutual has released its 2003 Community Annual Report highlighting the impact of the company's multi-faceted community involvement programs. The report is posted online at:

http://www.wamu.com/about/community/commitment/annualreport/summary.htm

Washington Mutual produces the annual report to:

  • Demonstrate ongoing efforts to meet the objectives outlined in the company's 10-year, $375 billion community lending and investment commitment, and

  • Illustrate the extent and breadth of the company's other community efforts including volunteerism, diversity initiatives, and other support.

    Some highlights from the 2003 Community Annual Report include:

  • $85.4 billion in funding for traditionally under-served communities through the company's community lending and investment commitment - more than doubling our target goal for the year of $33.9 billion,

  • $94 million in charitable contributions--up from $72 million in 2002--to communities through grants, employee giving, community sponsorships and other support,

  • 14.83 percent of supplier-related contract expenses with businesses that are at least 51 percent owned by women, people of color, or people with disabilities, and

  • 184,000 hours of community service generated by employees who volunteered 44,000 times.

    "By being an engaged, responsive partner in our communities, we deliver on our brand promise of great value with friendly service for everyone," says Benson Porter, division executive for the Community and External Affairs Division. "This report speaks distinctly of what Washington Mutual stands for and the kind of employees we're so fortunate and proud to have."

    About Washington Mutual's 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 financial services that provides a diversified line of products and services to consumers and commercial clients. At March 31, 2004, Washington Mutual and its subsidiaries had assets of $280.77 billion. Washington Mutual currently operates more than 2,400 consumer banking, mortgage lending, commercial banking, and financial services offices throughout the nation. Washington Mutual's press releases are available at www.wamunewsroom.com.

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