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WASHINGTON MUTUAL SHAREHOLDERS APPROVE ACQUISITION OF GREAT NORTHWEST BANK

 WASHINGTON MUTUAL SHAREHOLDERS APPROVE ACQUISITION
 OF GREAT NORTHWEST BANK
 SEATTLE, Jan. 22 /PRNewswire/ -- Washington Mutual Savings Bank (NASDAQ: WAMU) announced today that its shareholders have voted to approve the merger of GNW Financial Corp. (NASDAQ: GNWF) into Washington Mutual.
 As a result of the transaction, GNW Financial's subsidiary, Great Northwest Bank of Bremerton, Wash., will be merged into Washington Mutual's subsidiary, Washington Mutual, a Federal Savings Bank.
 The vote took place at a special shareholders' meeting held in Seattle today.
 On Jan. 17, Washington Mutual announced that it had received approval for the transaction from the Office of Thrift Supervision, subject to approval by the shareholders of both corporations.
 The transaction is expected to be completed in spring 1992.
 With $7.1 billion in assets, Washington Mutual is the Northwest's premier consumer bank, operating 100 financial centers and 18 home loan centers in Washington, Oregon and Idaho.
 -0- 1/22/92
 /CONTACT: Scott F. Selby of Washington Mutual Savings Bank, 206-461-3186/
 (WAMU GNWF) CO: Washington Mutual Savings Bank; GNW Financial ST: Washington IN: FIN SU: TNM


LM -- SE001 -- 2399 01/22/92 14:31 EST
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Publication:PR Newswire
Date:Jan 22, 1992
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