Washington Mutual and Earvin ``Magic'' Johnson to Bring Urban Homeownership Initiative to Inland Empire Thursday.

Earvin "Magic" Johnson and Congressman Joe Baca On-Hand to Introduce
 New Financial Education Program to Inland Empire's Ethnic Communities

WHAT:     Washington Mutual and Earvin "Magic" Johnson, Chairman and
          CEO of Johnson Development Corporation (JDC), are expanding
          their ground-breaking commitment to increase homeownership
          in the nation's underserved communities with the grand
          opening of a new home loan center in the Inland Empire city
          of Rialto.

          For the first time in history, Johnson's dedication to
          improving the quality of life for families in urban areas is
          expanding beyond African Americans to bring home ownership
          to members of the Hispanic and Asian communities through the
          addition of new home loan centers in urban neighborhoods
          nationwide, and the introduction of a free, four-part
          financial education and credit building program, Solid
          Start(TM). Upon completion of the comprehensive Solid Start
          program, the prospective homebuyer is in a good position to
          be approved for their first home loan.

WHEN:     Thursday, July 7, beginning promptly at 11:00 a.m.

WHERE:    Washington Mutual Rialto Home Loan Center
          1154 North Riverside Avenue, Rialto, 92376

WHO:      Earvin "Magic" Johnson; Benson Porter, Washington Mutual's
          chief administrative officer; U.S. Congressman Joe Baca;
          Rialto Mayor Grace Vargas

WHY:      In 2003, JDC and Washington Mutual began a partnership to
          help people in underserved communities realize the dream of
          home ownership. They have opened 22 home loan centers
          together in New York City, Washington, D.C., Atlanta,
          Chicago, Los Angeles, the Bay Area and Houston and will open
          five more home loan centers in 2005, including centers in
          Miami, Newark, N.J. and the center opening in Rialto. The
          new Rialto home loan center is located in the heart of an
          underserved community that needs it most, and will be
          staffed by multi-lingual members of the community.

          Photo opportunities and media interviews are welcomed