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WASHINGTON MUTUAL ANNOUNCES REDEMPTION OF SERIES A PREFERRED STOCK

 SEATTLE, Dec. 23 /PRNewswire/ -- Washington Mutual Savings Bank (NASDAQ: WAMU) announced today that it has received approval from the Federal Deposit Insurance Corp. to redeem its outstanding shares of $3.75 Noncumulative Convertible Preferred Stock, Series A.
 The Series A Preferred Stock is currently redeemable at a price of $52.625 per share and is convertible into shares of Washington Mutual's common stock.
 The bank anticipates that a notice of redemption for the Series A Preferred Stock will be mailed to shareholders in early January 1993.
 The Series A Preferred Stock was first offered Aug. 10, 1992, at $50 per share. Its closing price on Dec. 22, 1992, was $84.625 per share. At Sept. 30, 1992, there were 1,300,000 shares of the Series A Preferred Stock issued and outstanding.
 Serving the financial needs of Northwest consumers, Washington Mutual is the largest independent bank headquartered in Washington, having assets of $8.4 billion and operating 119 financial centers and 17 home loan centers in Washington and Oregon.
 -0- 12/23/92
 /CONTACT: Scott F. Selby of Washington Mutual Savings Bank, 206-461-3186/
 (WAMU)


CO: Washington Mutual Savings Bank; Federal Deposit Insurance Corp. ST: Washington IN: FIN SU:

SW -- SE004 -- 9408 12/23/92 07:31 EST
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Publication:PR Newswire
Date:Dec 23, 1992
Words:207
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