Official Committee of Equity Security Holders of Washington Mutual, Inc. Deliver Statement Regarding Proposed Settlement

NEW YORK, March 17 /PRNewswire/ -- In response to numerous inquiries, the Official Committee of Equity Security Holders of Washington Mutual, Inc. (the "Committee") issues this statement in connection with the proposed global settlement (the "Proposed Settlement") among Washington Mutual, Inc. and WMI Investment Corp. (jointly, the "Debtors"), JP Morgan Chase and the Federal  Deposit Insurance Corporation (together with JP Morgan Chase, the "Proposed Defendants").

The Debtors have stated their intent to seek approval of  the Proposed Settlement in connection with a plan of reorganization to be filed on or about March 26, 2010. The Committee anticipates that the Debtors will seek approval of the Proposed Settlement and its plan of reorganization 60-90 days from that date.

The Committee was not involved with, and does not support, the Proposed Settlement (based on all available information).  At this time, the Committee intends to object to the Proposed Settlement.

Please be apprised that the Committee is unable to discuss strategy or its intended course of action, but please be assured that the Committee takes its duty to shareholders very seriously and will take all reasonable and appropriate actions to represent the interests of shareholders.

Contact: Michael Willingham, Chairman of the Committee of Equity Security Holders for Washington Mutual, Inc, et al.  [email protected]

SOURCE Official Committee of Equity Security Holders of Washington Mutual, Inc.