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WASHINGTON MUTUAL ANNOUNCES FIRST-QUARTER COMMUNITY CONTRIBUTIONS

 SEATTLE, May 11 /PRNewswire/ -- Washington Mutual Savings Bank (NASDAQ: WAMU) announced today first-quarter contributions of $551,303. Northwest community groups such as the Washington Council for Economic Education and the Puget Sound Local Initiatives Support Corp. received support from the bank.
 The contributions were made between Jan. 1 and March 31, 1993, through the Washington Mutual Savings Bank Foundation, corporate- sponsored special events, the bank's employee matching-gift program and in-kind donations.
 The foundation alone made $355,488 in philanthropic grants to nonprofit organizations throughout Washington and Oregon during the quarter. Education and affordable housing are the foundation's primary focus.
 "As the state's largest independent bank, we feel a responsibility to seek out ways to respond to the many needs within our communities," said Kerry Killinger, Washington Mutual's chairman and chief executive officer. "We are proud to be involved with so many innovative programs throughout the Northwest."
 The foundation contributed more than $104,830 to educational programs during the first quarter. Programs involving tutoring and mentoring may also benefit from Washington Mutual's successful One-to-One Tutoring Program. One-to-One refers volunteer tutors -- more than 5,000 since it began in 1992 -- to Northwest schools and nonprofit tutoring organizations.
 Continuing Washington Mutual's commitment to education, the Washington Council for Economic Education received $5,000 from the foundation. The funds will be used to help establish a "micro- society" model at Wagner Middle School in Monroe, Wash. Based on a Massachusetts program, students attend core classes in the morning and apply learned skills during afternoon classes and workshops.
 Puget Sound Local Initiatives Support Corp., a Seattle-based organization, received $10,000 from the foundation. The funds will be used to help strengthen the efforts of nonprofit housing developers through grants, loans, guarantees and equity. The group serves King, Snohomish and Pierce counties.
 First-quarter contributions from Washington Mutual also assisted:
 -- The Dominican Outreach Foundation, Spokane, Wash., $5,000, to assist in the completion of a transitional living facility serving 45-50 homeless women and children.
 -- Sea Mar Community Health Centers, Seattle, $5,000, to support the development of a 100-bed skilled nursing facility and child development center serving disadvantaged populations.
 -- Wing Luke Memorial Museum, Seattle, $7,500, to support the museum's new permanent exhibit "One Song, Many Voices," which presents a multicultural perspective on the history, culture and contributions of the Asian Pacific communities.
 -- Centro Latino SER - Jobs for Progress, Tacoma, Wash., $5,000, to establish a Family Learning Center to help address literacy concerns of children and adults.
 -- Oregon Independent College Foundation, Portland, Ore., $7,500, to support joint ventures between the foundation's nine member colleges and local K-12 schools and school districts.
 -- Washington State 4-H Foundation, Puyallup, Wash., $5,000, providing general support of youth development efforts across the state and helping purchase a version of 4-H's effective "ROPES" course for the Bethel School District.
 Serving the financial needs of Northwest consumers since 1889, Washington Mutual is the largest local independent bank headquartered in Washington and the largest consumer bank in the Northwest.
 -0- 5/11/93
 /CONTACT: Terry J. Onustack of Washington Mutual, 206-461-8696/
 (WAMU)


CO: Washington Mutual Savings Bank ST: Washington, Oregon IN: FIN SU:

SW -- SE008 -- 7077 05/11/93 12:48 EDT
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Date:May 11, 1993
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