Washington Federal Inc. Announces Intent to Repurchase Additional Shares of Common Stock

Business Wire, April 14, 1999

SEATTLE--(BUSINESS WIRE)--April 14, 1999--

The Board of Directors of Washington Federal Inc. (Nasdaq:WFSL), parent company of Washington Federal Savings, today authorized the repurchase of an additional 2.7 million shares, or approximately 5%, of outstanding Washington Federal Inc. common stock as conditions warrant.

In September 1998, Washington Federal announced its third authorization to repurchase up to 5% of its common stock in the open market. As of this date, the company has approximately 600 thousand shares remaining under this authorization.

Guy C. Pinkerton, chairman and chief executive officer, commented, "The additional authorization reinforces the Board's belief that the company's current stock price does not adequately reflect the value of Washington Federal. The repurchase program not only provides management the flexibility to purchase its common stock as market conditions warrant, but also demonstrates its confidence in its future financial prospects."

Washington Federal Savings, with 107 offices in Washington, Idaho, Oregon, Utah and Arizona, had $5.8 billion in assets and $3.3 billion in deposits as of March 31, 1999.