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WASHINGTON MUTUAL ANNOUNCES FOURTH-QUARTER COMMUNITY CONTRIBUTIONS

 SEATTLE, Feb. 3 /PRNewswire/ -- Washington Mutual Savings Bank (NASDAQ: WAMU) announced today fourth-quarter contributions to Northwest communities of $430,640, helping groups such as the Seattle Alliance for Education and Teachers Recruiting Future Teachers.
 Washington Mutual made the contributions between Oct. 1 and Dec. 31, 1992, 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 $250,312 in philanthropic grants to nonprofit organizations throughout Washington and Oregon during the quarter. Education and affordable housing are the foundation's primary focus.
 "Because Washington Mutual is the state's largest independently owned, locally managed bank, we are committed to making the communities we serve better places to live and work," said Kerry Killinger, Washington Mutual's chairman and chief executive officer. "We are proud to be involved with many innovative programs throughout the Northwest."
 The foundation contributed more than $153,303 to educational programs during fourth 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 3,500 last year -- to Northwest schools and funds nonprofit groups that specialize in education.
 Continuing Washington Mutual's commitment to education, the Seattle Alliance for Education received $10,000 from the foundation. The funds will be used to help in the training and retention of good teachers. The group believes that teachers must succeed in teaching for students to succeed in learning.
 Teachers Recruiting Future Teachers, a Seattle-based organization, received $10,000 from the foundation. The funds will be used to help recruit and develop mentorship programs for qualified high school students who wish to become teachers.
 Washington Mutual also made contributions to:
 -- The International District Housing Alliance, Seattle, $12,000,
 to support affordable housing programs in Seattle's ethnically
 diverse International District.
 -- The Educational Renewal Institute, Seattle, $7,500, to
 support educational reform programs in the Issaquah and Moses
 Lake school districts.
 -- Fremont Public Association, Kitsap County, $5,000, to help
 provide technical assistance in developing affordable housing on
 the Kitsap Peninsula.
 -- Success by 6, Seattle, $10,000, to help at-risk children under
 age 6 prepare to succeed in school.
 -- Portland Housing Center, Portland, $5,000, to assist in
 providing homeownership information, counseling and educational
 services to low- or modest-income people.
 -- Lutheran Alliance - Transitional & Community Housing, Mountlake
 Terrace, $3,000, to help build 18 units of low-income, single-
 parent housing near Bothell.
 During the quarter, the foundation also approved low-interest loans of $200,000 to InterCommunity Housing/Mercy Housing and $160,000 to Community Psychiatric Clinic. InterCommunity, a local nonprofit affordable housing group, plans to construct a 151-unit apartment complex in Everett to house low-income families with children. Community Psychiatric Clinic plans to build a 15-unit complex near Northgate Shopping Mall in Seattle.
 Serving the financial needs of Northwest consumers, Washington Mutual is the largest independent bank headquartered in the state, having assets of $9 billion and operating 119 financial centers and 17 home loan centers in Washington and Oregon.
 -0- 2/3/93
 /CONTACT: Roger Nyhus of Washington Mutual Savings Bank, 206-461-6390/
 (WAMU)


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

LM -- SE004 -- 2414 02/03/93 12:47 EST
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Date:Feb 3, 1993
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