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SOUND SAVINGS AND LOAN APPROVES MERGER WITH WASHINGTON MUTUAL SUBSIDIARY

 SOUND SAVINGS AND LOAN APPROVES MERGER
 WITH WASHINGTON MUTUAL SUBSIDIARY
 SEATTLE, Dec. 16 /PRNewswire/ -- The shareholders of Sound Savings and Loan Association of Seattle have voted to approve the merger of the institution with the federal savings bank subsidiary of Washington Mutual Savings Bank (NASDAQ: WAMU), Sound Savings said today.
 At a special shareholders' meeting held Friday evening, Dec. 13, to consider the merger, shareholders approved the transaction which would pay them $6 per share in the form of Washington Mutual common stock.
 Pending shareholder approval, the transaction was approved Sept. 23 by the Office of Thrift Supervision, Sound Savings' primary federal regulator. The transaction is expected to close around the first of the year.
 Sound Savings has assets of approximately $27 million and operates one location in Seattle at 1000 Second Ave. Washington Mutual and its subsidiary, Washington Mutual, a Federal Savings Bank, together operate 99 financial centers and 18 home loan centers in Washington, Oregon and Idaho.
 "We are pleased that the shareholders have approved this merger because it means that we will become part of an organization which shares the values and commitment to community that we do," said Nobie Chan, chairman, Sound Savings.
 -0- 12/16/91
 /CONTACT: Cathy Boydston of Sound Savings, 206-682-7283/
 (WAMU) CO: Washington Mutual Savings Bank; Sound Savings and Loan
 Association ST: Washington IN: FIN SU: TNM


SC -- SE002 -- 2681 12/16/91 08:01 EST
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Publication:PR Newswire
Date:Dec 16, 1991
Words:234
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