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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000893750-08-000495.txt : 20080930
<SEC-HEADER>0000893750-08-000495.hdr.sgml : 20080930
<ACCEPTANCE-DATETIME>20080929214453
ACCESSION NUMBER:		0000893750-08-000495
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080926
ITEM INFORMATION:		Bankruptcy or Receivership
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080930
DATE AS OF CHANGE:		20080929

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WASHINGTON MUTUAL, INC
		CENTRAL INDEX KEY:			0000933136
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				911653725
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14667
		FILM NUMBER:		081096043

	BUSINESS ADDRESS:	
		STREET 1:		1301 SECOND AVENUE
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
		BUSINESS PHONE:		206-461-2000

	MAIL ADDRESS:	
		STREET 1:		1301 SECOND AVENUE
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WASHINGTON MUTUAL INC
		DATE OF NAME CHANGE:	19941123
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8K
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD><TITLE>Form 8-K</TITLE>
<META content=09/29/2008 name=date>
</HEAD>
<BODY
style="FONT-SIZE: 10pt; COLOR: #000000; LINE-HEIGHT: 12pt; FONT-FAMILY: Times New Roman">
<DIV style="WIDTH: 624px">
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center><B>UNITED STATES</B></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center><B>Washington, D.C. 20549</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center><B>______________________</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center><B>FORM
8-K</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center><B>CURRENT REPORT</B></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center><B>Pursuant to Section 13 or 15(d) of the</B></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center><B>Securities Exchange Act of 1934</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>Date of
Report (Date of earliest event reported): &nbsp;September 30, 2008 (September
26, 2008)</P>
<P style="MARGIN: 0px" align=center><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=208></TD>
<TD width=206></TD>
<TD width=104></TD>
<TD width=104></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=top width=623
colSpan=4><P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>WASHINGTON MUTUAL, INC.</P></TD></TR>
<TR>
<TD vAlign=top width=623 colSpan=4>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>(Exact Name of Registrant as Specified in Charter)</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=top width=208>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>Washington</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=top width=206>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13.7pt"
align=center>1-14667</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=top width=209
colSpan=2><P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13.7pt"
align=center>91-1653725</P></TD></TR>
<TR>
<TD vAlign=top width=208>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>(State or Other Jurisdiction</P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>of
Incorporation)</P></TD>
<TD vAlign=top width=206>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>(Commission</P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>File Number)</P></TD>
<TD vAlign=top width=209 colSpan=2>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>(I.R.S. Employer<BR>Identification No.)</P></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=top width=518
colSpan=3><P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>1301 Second Avenue, Seattle, Washington</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=top width=104>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>98101</P></TD></TR>
<TR>
<TD vAlign=top width=518 colSpan=3>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>(Address of Principal Executive Offices)</P></TD>
<TD vAlign=top width=104>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>(Zip Code)</P></TD></TR></TABLE>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center>Registrant&#146;s telephone number, including area code:
&nbsp;&nbsp;<U>(206) 461-2000</U></P>
<P style="MARGIN: 0px"><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=624></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=top width=624>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt" align=center>(Former
name or former address, if changed since last report)</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 24px; LINE-HEIGHT: 13pt"
align=justify>Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (<I>see </I>General Instruction A.2. below):</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 13pt" align=justify><BR></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 11pt; MARGIN-BOTTOM: -20px; TEXT-INDENT: 24px; LINE-HEIGHT: 15pt; FONT-FAMILY: Wingdings"
align=justify>o</P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 13pt"
align=justify>Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 13pt" align=justify><BR></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 11pt; MARGIN-BOTTOM: -20px; TEXT-INDENT: 24px; LINE-HEIGHT: 15pt; FONT-FAMILY: Wingdings"
align=justify>o</P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 13pt"
align=justify>Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 13pt" align=justify><BR></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 11pt; MARGIN-BOTTOM: -20px; TEXT-INDENT: 24px; LINE-HEIGHT: 15pt; FONT-FAMILY: Wingdings"
align=justify>o</P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 13pt"
align=justify>Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))</P>
<P style="MARGIN: 0px; LINE-HEIGHT: 13pt" align=justify><BR></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 11pt; MARGIN-BOTTOM: -20px; TEXT-INDENT: 24px; LINE-HEIGHT: 15pt; FONT-FAMILY: Wingdings"
align=justify>o</P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 13pt"
align=justify>Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN-TOP: 14px; MARGIN-BOTTOM: 0px"><BR></P>
<P style="MARGIN-TOP: 14px; MARGIN-BOTTOM: 0px"><BR><BR></P>
<P
style="MARGIN-TOP: 14px; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0px; PAGE-BREAK-BEFORE: always; LINE-HEIGHT: 13pt"><B>Item
1.03. &nbsp;Bankruptcy or Receivership.</B></P>
<P
style="MARGIN-TOP: 14px; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 13pt">On
September 26, 2008, Washington Mutual, Inc. (the &#147;<U>Company</U>&#148;), together
with its wholly-owned subsidiary, WMI Investment Corp., commenced voluntary
cases under chapter 11 of title 11 of the United States Code in the United
States Bankruptcy Court for the District of Delaware. &nbsp;The chapter 11
filings were a result of the appointment, by the Office of Thrift Supervision,
of the Federal Deposit Insurance Corporation (&#147;<U>FDIC</U>&#148;) as receiver of
Washington Mutual Bank, Washington Mutual, Inc.&#146;s banking subsidiary, on
September 25, 2008.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 13pt">In
its chapter 11 petition, the Company reported that the amount of assets
reflected on its books and records was $32,896,605,516. &nbsp;However, this
amount includes the Company&#146;s common stock interest in Washington Mutual Bank,
which is currently in receivership and the assets of which have reportedly been
transferred to JPMorgan Chase &amp; Co. or an affiliate. &nbsp;The FDIC, which
was appointed the receiver for the bank, indicates on its website that it does
not anticipate that there will be any recovery to the Company for that common
stock interest. &nbsp;In addition, the Company and its non-bank subsidiaries had
approximately $5 billion of cash on deposit with Washington Mutual Bank and its
bank subsidiary, Washington Mutual Bank fsb, immediately prior to the time the
FDIC was appointed as receiver. &nbsp;The Company is in the process of
confirming the status of those deposits and of its other assets.</P>
<P
style="MARGIN-TOP: 14px; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0px; LINE-HEIGHT: 13pt"><B>Item
3.01. &nbsp;Notice of Delisting or Failure to Satisfy a Continued Listing Rule
or Standard; Transfer of Listing.</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 13pt">On
September 29, 2008, NYSE Regulation, Inc. (&#147;<U>NYSE Regulation</U>&#148;) notified
the Company that it had suspended the New York Stock Exchange (&#147;<U>NYSE</U>&#148;)
listings of the Company&#146;s common stock (NYSE:WM), the Company&#146;s depositary
shares each representing 1/40,000th interest in a share of Series K Perpetual
Non-Cumulative Floating Rate Preferred Stock (NYSE:WM PR K) and the Company&#146;s
7.75% Series R Non-Cumulative Perpetual Convertible Preferred Stock
(NYSE:WMPRR), effective immediately. &nbsp;The NYSE posted a press release on
its website stating that NYSE Regulation&#146;s decision to suspend the listings was
reached in view of events described under Item 1.03 of this Current Report on
Form 8-K, the substantial reduction in the scope of the Company&#146;s operations as
a result of JPMorgan Chase &amp; Co.&#146;s acquisition of all of the deposits,
assets and certain liabilities of the Company&#146;s banking operations and the
&#147;abnormally low&#148; trading price of the Company&#146;s common stock, which traded as
low as $0.15 prior to the regulatory trading halt in the Company&#146;s securities at
the NYSE market open on September 26, 2008.</P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 14px; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0px; LINE-HEIGHT: 13pt"><B>Item
8.01. &nbsp;Other Events.</B></P>
<P
style="MARGIN-TOP: 14px; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 13pt">On
September 26, 2008, the Company issued a press release announcing that an
&#147;Exchange Event&#148; had occurred under the applicable documents governing the
preferred securities (the &#147;<U>Securities</U>&#148;) of Washington Mutual Preferred
(Cayman) I Ltd., Washington Mutual Preferred Funding Trust I, Washington Mutual
Preferred Funding Trust II, Washington Mutual Preferred Funding Trust III and
Washington Mutual Preferred Funding Trust IV. &nbsp;In connection with the
Exchange Event and in accordance with the terms of the documents governing the
Securities, the Company effected an exchange (the &#147;<U>Conditional
Exchange</U>&#148;), effective as of September 26, 2008 at 8:00 A.M. New York time,
of the Securities into depositary shares representing a like amount of preferred
stock in the Company.</P>
<P
style="MARGIN-TOP: 14px; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 13pt">A
copy of the press release issued by the Company announcing the Exchange Event
and the Conditional Exchange is attached as Exhibit&nbsp;99.1 to this Current
Report on Form 8-K and incorporated herein by reference.</P>
<P style="MARGIN-TOP: 14px; MARGIN-BOTTOM: 0px"><BR><BR></P>
<P
style="MARGIN-TOP: 14px; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0px; PAGE-BREAK-BEFORE: always; LINE-HEIGHT: 13pt"><B>Item
9.01. &nbsp;Financial Statements and Exhibits.</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt">(d) Exhibits.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=165></TD>
<TD width=498></TD></TR>
<TR>
<TD width=165>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"><U>Exhibit
No.</U></P></TD>
<TD width=498>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"><U>Description</U></P></TD></TR>
<TR>
<TD width=165>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt">99.1</P></TD>
<TD width=498>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt">Press Release,
dated September 26, 2008.</P></TD></TR>
<TR>
<TD width=165>
<P>&nbsp;</P></TD>
<TD width=498>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN-TOP: 14px; MARGIN-BOTTOM: 0px"><BR></P>
<P style="MARGIN: 0px" align=center><BR><BR></P>
<P
style="FONT-SIZE: 11pt; PAGE-BREAK-BEFORE: always; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center><B>SIGNATURES</B></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 13pt"
align=justify>Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.</P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 336px; LINE-HEIGHT: 13pt"><A
name=OLE_LINK1></A>WASHINGTON MUTUAL, INC.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 11pt; MARGIN-BOTTOM: -17px; LINE-HEIGHT: 13pt">Date:</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 11pt; MARGIN-BOTTOM: -17px; TEXT-INDENT: 48px; LINE-HEIGHT: 13pt">September
30, 2008</P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 336px; LINE-HEIGHT: 13pt">By:
<U>/s/ Stewart M.
Landefeld&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 336px; LINE-HEIGHT: 13pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:
&nbsp;&nbsp;Stewart M. Landefeld</P>
<P
style="PADDING-LEFT: 48px; FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 288px; LINE-HEIGHT: 13pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:
&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President<BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px" align=justify><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 11pt; PAGE-BREAK-BEFORE: always; MARGIN: 0px; LINE-HEIGHT: 13pt"
align=center><B>EXHIBIT INDEX</B></P>
<P style="FONT-SIZE: 11pt; MARGIN: 0px" align=justify>&nbsp;</P>
<TABLE style="FONT-SIZE: 10pt" cellSpacing=0>
<TR style="FONT-SIZE: 0px">
<TD width=202></TD>
<TD width=433></TD></TR>
<TR>
<TD width=202>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"><U>Exhibit
No.</U></P></TD>
<TD width=433>
<P
style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt"><U>Description</U></P></TD></TR>
<TR>
<TD width=202>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt">99.1</P></TD>
<TD width=433>
<P style="FONT-SIZE: 11pt; MARGIN: 0px; LINE-HEIGHT: 13pt">Press Release,
dated September 26, 2008.</P></TD></TR>
<TR>
<TD vAlign=top width=202>
<P>&nbsp;</P></TD>
<TD vAlign=top width=433>
<P>&nbsp;</P></TD></TR></TABLE>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="MARGIN: 0px" align=center><BR></P>
<P
style="MARGIN: 0px"><BR></P></DIV></BODY>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exh991.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>Exhibit 99.1</TITLE>
<META NAME="author" CONTENT="WPOperator Temp55015 (55015)">
<META NAME="date" CONTENT="09/28/2008">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:624px"><P style="line-height:14pt; margin:0px; font-size:12pt" align=right><B>Exhibit 99.1</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt">For Immediate Release</P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt">September 26, 2008--Washington Mutual, Inc. (NYSE:WM) announced today that an &#147;Exchange Event&#148; has occurred under the applicable documents governing the following securities (Securities):</P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt">&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt">Washington Mutual Preferred (Cayman) I Ltd. 7.25% Perpetual Non-cumulative Preferred Securities, Series A-1 (to be exchanged into depositary shares representing Series J Perpetual Non-Cumulative Fixed Rate Preferred Stock of WMI);</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt">&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt">Washington Mutual Preferred (Cayman) I Ltd. 7.25% Perpetual Non-cumulative Preferred Securities, Series A-2 (to be exchanged into depositary shares representing Series J Perpetual Non-Cumulative Fixed Rate Preferred Stock of WMI);</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt">&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt">Washington Mutual Preferred Funding Trust I Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities (to be exchanged into depositary shares representing Series I Perpetual Non-Cumulative Fixed-to-Floating Rate Preferred Stock of WMI);</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt">&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt">Washington Mutual Preferred Funding Trust II Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities (to be exchanged into depositary shares representing Series L Perpetual Non-Cumulative Fixed Rate Preferred Stock of WMI);</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt">&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt">Washington Mutual Preferred Funding Trust III Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities (to be exchanged into depositary shares representing Series M Perpetual Non-Cumulative Fixed Rate Preferred Stock of WMI); and</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt">&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt">Washington Mutual Preferred Funding Trust IV Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities (to be exchanged into depositary shares representing Series N Perpetual Non-Cumulative Fixed-to-Floating Rate Preferred Stock of WMI).</P>
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<P style="line-height:14pt; margin:0px; text-indent:48px; font-size:12pt">In connection with the Exchange Event, WMI will effect an exchange (Conditional Exchange) of the Securities into depositary shares representing a like amount of preferred stock in WMI, as contemplated by the applicable documents governing the securities.</P>
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<P style="line-height:14pt; margin:0px; text-indent:48px; font-size:12pt">In accordance with the terms of the documents governing the Securities, the Conditional Exchange of the Securities will occur on Friday, September 26, 2008 at 8:00 A.M. New York time. &nbsp;As of the time of the Conditional Exchange, each outstanding Security will be exchanged automatically for a like amount of newly issued Fixed Rate Depositary Shares or newly issued Fixed-to-Floating Rate Depositary Shares, as applicable, each representing a 1/1000th interest in one share of the applicable series of preferred stock of WMI.</P>
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<P style="line-height:14pt; margin:0px; text-indent:48px; font-size:12pt">WMI will mail the notice required under the applicable documents to each holder of record of Securities within 30 days, and WMI will deliver or cause to be delivered to each such holder of record depositary receipts for the Fixed Rate Depositary Shares and Fixed-to-Floating Rate Depositary Shares upon surrender of the Securities. &nbsp;Until such depositary receipts are delivered or in the event such depositary receipts are not delivered, any certificates previously representing Securities will be deemed for all purposes, effective as of 8:00 AM New York time on September 26, 2008, to represent Fixed Rate Depositary Shares or Fixed-to-Floating Rate Depositary Shares, as applicable.</P>
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