From Earlier, Washington Mutual Announces Settlement With Significant Creditors and Equity Committee

Washington Mutual, Inc. (Pink Sheets:

) today announced that the Company and certain significant parties in the Company's chapter 11 proceedings (including the Official Committee of Equity Security Holders (the "Equity Committee")) have reached a comprehensive settlement of the disputes that the Company and the settling parties believe facilitates the filing of, and confirmation of, the Company's Plan (as defined below). In connection with the foregoing, and in accordance with chapter 11 of the United States Bankruptcy Code, the Company and WMI Investment Corp. (together, the "Debtors") filed the Seventh Amended Joint Plan of Affiliated Debtors (as amended, modified or supplemented from time to time, the "Plan") and a related disclosure statement for the Plan (as amended, modified or supplemented from time to time, the "Disclosure Statement"). The Plan and Disclosure Statement were filed earlier today with the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). "The comprehensive settlement announced today represents a fair and reasonable recovery for the thousands of equity holders of the Company who have been following this case closely for three years. The Equity Committee and its advisors are pleased with the result and look forward to and support the swift confirmation of the Plan," said Michael Willingham, chairman of the Equity Committee appointed in the Company's chapter 11 proceedings.