SEATTLE - Washington Mutual today announced it has again earned the highest Community Reinvestment Act (CRA) rating, "outstanding," from the Office of Thrift Supervision (OTS), the nation's top regulator of thrifts. This rating reflects the company's commitment to making the neighborhoods it serves better places to live and work, through its lending, investment and community service activities. During this evaluation period, July 1, 2000 through June 30, 2003, the OTS was evaluating Washington Mutual's performance in Arizona, California, Colorado, Florida, Georgia, Nevada, New York, New Jersey and Texas. Only about 15 percent of large banks regulated under CRA receive an outstanding rating.

"We consider the CRA requirements a floor rather than a ceiling and we strive to exceed them," said Kerry Killinger, Washington Mutual's chairman and chief executive officer. "While our performance proves that we make serving the community an integral part of how we do business, we continue to look for new and better ways to reach people in low- to moderate-income neighborhoods."

Key factors the OTS cited in awarding the institution an outstanding rating included Washington Mutual's volume of loans within geographies of differing income levels and among individuals and businesses of differing income levels; significant community development investment activities; leadership in community development services; and the variety and depth of products and services offered by Washington Mutual that are tailored to the needs of the community. Washington Mutual was awarded an overall outstanding rating as well as an outstanding rating for each of the three tests: lending, investment and service. Washington Mutual's CRA performance was last evaluated by the OTS in 2000, at which time the rating was also outstanding.

Approaching CRA requirements as a minimum standard, in 2002 Washington Mutual began implementing a 10-year, $375 billion lending and investment commitment with programs that cover single-family lending, multi-family lending, community investment and development, and consumer and small business lending. This effort included programs designed to reach traditionally under-served communities, including people of color, residents of low- and moderate-income census tracts, and borrowers whose income is below 80 percent of the median income for their area.

About Washington Mutual
With a history dating back to 1889, Washington Mutual (NYSE:WM) is a retailer of financial services that provides a diversified line of products and services to consumers and commercial clients. At December 31, 2004, Washington Mutual and its subsidiaries had assets of $307.92 billion. Washington Mutual currently operates more than 2,400 retail banking, mortgage lending, commercial banking and financial services offices throughout the nation. Washington Mutual's press releases are available at www.wamunewsroom.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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