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WASHINGTON MUTUAL ANNOUNCES REDEMPTION OF CAPITAL NOTES

 SEATTLE, July 16 /PRNewswire/ -- Washington Mutual Savings Bank (NASDAQ: WAMU) announced today that it is calling for the redemption of all of its 10 1/2 percent subordinated capital notes due March 15, 1999. The redemption date will be Sept. 15, 1993. The aggregate principal amount of the notes outstanding is $40 million.
 The redemption price will be $1,040 per $1,000 of the principal amount of the notes, together with interest accrued and unpaid to the redemption date. This price will be paid in cash.
 All required regulatory approvals have been received.
 The trustee for the notes, Seafirst Bank, will communicate in the near future the details of the redemption to noteholders of record. The trustee will no longer register transfers of any notes.
 Serving the financial needs of Northwest consumers since 1889, Washington Mutual is the largest locally managed, independently owned bank in Washington and the largest consumer bank in the Northwest.
 -0- 7/16/93
 /CONTACT: Scott F. Selby of Washington Mutual Savings Bank, 206-461-3186/
 (WAMU)


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

SB -- SE005 -- 2581 07/16/93 15:24 EDT
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Publication:PR Newswire
Date:Jul 16, 1993
Words:189
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