Washington Mutual Kicks off Hispanic Advertising Campaign; Selects Zubi Advertising as Hispanic Agency of Record

The radio, television, print and out-of-home ads will promotefeatures of the new WaMu Free Checking(TM) product that resonate withHispanic consumers, such as free outbound wire transfers, free ATMwithdrawals, free checks for life, and free low-balance alerts withonline banking, among other features.

"The Latino market has been and will continue to be the mostsignificant growth market in America. We've been serving the Latinomarket every step of the way and will continue to make the WaMubanking experience simpler and more welcoming as we provide ourauthentic approach to serving all our customers," said Chris Matthews,Washington Mutual's senior vice president of advertising and branding.

Building Brand Recognition with the Latino Community

"We have built a great consumer-friendly brand and have led themarket with new and innovative financial products and services thatappeal to everyday consumers and small businesses," added Matthews."We are delighted to partner with Zubi Advertising to build our brandrecognition and market position with Latinos."

Zubi Advertising, a leading independent U.S. Hispanic advertisingagency, will provide full-service integrated Hispanic marketingprograms for Washington Mutual and oversee its Hispanic market mediabuying.

"As a true leader in the financial services industry, WashingtonMutual has raised the bar by providing a unique combination ofexcellent customer service and top-tier financial products," said JoeZubizarreta, chief operating officer for Zubi Advertising. "We areexcited to be working for a company that cares as much about theircustomers as we care about ours."

Washington Mutual introduced the WaMu Free Checking(TM) account inmid-March and has already seen a very positive response fromconsumers. In fact, the company reported that the WaMu FreeChecking(TM) account generated record levels of new accounts duringthe first three months of 2006. Net new checking account growth of340,000 during the first quarter of 2006 represented a 68 percentincrease in account growth from a year ago.

About Washington Mutual

Washington Mutual (NYSE:WM) is one of the nation's leadingconsumer and small business banks. At March 31, 2006, WashingtonMutual and its subsidiaries had assets of $348.67 billion. The companywas established in 1889 and currently operates more than 2,600consumer and small business banking stores throughout the nation.Washington Mutual's press releases are available athttp://newsroom.wamu.com.

The new WaMu Free Checking(TM) account features:

Free ATM Cash Withdrawals -- Washington Mutual will not charge for
withdrawals from this account at non-Washington Mutual ATMs anywhere
in the world. (Non-refundable ATM operator and foreign currency
exchange and transaction fees may apply).

Free Checks for Life -- Customers ordering their checks through
Washington Mutual can get them for free; select styles are available.

Free OD/NSF Fee (one per year) -- One OD or NSF fee refund each
anniversary year; unused refunds can be carried over.

Free Gold Debit MasterCard(R) with Rewards -- The account comes with
a Gold Debit MasterCard(R) and Washington Mutual will give a reward
(currently $0.03) for each Debit MasterCard purchase transaction (pin
or signature) during the prior year up to a $250 reward if the account
is open and in good standing on the anniversary date.

Free Outgoing Wire Transfers -- Washington Mutual will not charge for
outbound international or domestic wire transfers. (Non-refundable
foreign currency exchange charges and intermediary and beneficiary
bank fees may apply.)

Free ID Theft Services -- Customers will receive recovery assistance
if they ever become the victim of identity theft.

Free e-Alerts -- Low balance, large withdrawal, and OD event
notification alerts sent by e-mail. (Enrollment in free online banking
service is required.)

Other features -- No monthly fee, no direct deposit requirement,
option of free check return or check storage, free teller access, no
per check charges, free account access at more than 3,600 Washington
Mutual ATMs nationwide, free 24/7 telephone banking, free personal
online banking with Personal Bill Pay Service(R)