SCHEDULE 14A INFORMATION
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Washington Mutual, Inc.
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Media Contact: Washington Mutual
Bill Ehrlich
1-800-228-9268
Gavin Anderson & Company
Hollis Rafkin-Sax
212-373-0231
Investor Contact: Washington Mutual
JoAnn DeGrande
206-461-3186
June 4, 1997
FOR IMMEDIATE RELEASE
WASHINGTON MUTUAL APPLAUDS AHMANSON DECISION
SEATTLE -- Washington Mutual, Inc. (Nasdaq: WAMU) today issued the
following statement in response to the announcement by H.F. Ahmanson & Company
(NYSE: AHM) that it has withdrawn its unsolicited offer for Great Western
Financial Corporation (NYSE: GWF) and will terminate all related pending
litigation and shareholder solicitations.
"We are pleased that Ahmanson has chosen to end its attempt to acquire
Great Western," said Kerry Killinger, Washington Mutual's chairman, president
and chief executive officer. "We are confident that shareholders will recognize
the benefits of our merger when they vote on the transaction on June 13.
"The Washington Mutual/Great Western combination will create one of the
nation's leading financial services companies and a leading West Coast consumer
banking franchise. In addition, our company will have a strong presence in the
Southeastern U.S. As a result, Washington Mutual will be in an even stronger
position to deliver long-term value to our shareholders, employees, customers
and communities.
"We will accelerate our efforts to work toward a smooth and efficient
integration. As previously stated, Washington Mutual anticipates that the merger
could be completed as soon as late June or early July, following the receipt of
necessary shareholder and regulatory approvals."
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With a history dating back to 1889, Washington Mutual is a diversified
financial services company focusing on families and small and mid-sized
businesses. As of March 31, 1997, Washington Mutual and its subsidiaries had
consolidated assets of $46.1 billion and operated more than 550 offices in
Washington, California, Oregon, Idaho, Utah, Montana, Arizona, Colorado and
Nevada. The company's subsidiaries provide consumer and commercial banking,
full-service securities brokerage, mutual fund management and insurance
underwriting.
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