The PNC Financial Services Group Closes Sale Of Residential Mortgage Banking Business

The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that it has closed the sale of its residential mortgage banking business to Washington Mutual, Inc. (NYSE: WM). The agreement to sell was previously announced by both parties on October 2, 2000. Under the terms of the sale agreement, final settlement will occur at a later date.

The PNC Financial Services Group, Inc., headquartered in Pittsburgh, is one of the nation's largest diversified financial services organizations providing regional banking, corporate banking, real estate finance, asset- based lending, wealth management, asset management and global fund services.


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SOURCE: The PNC Financial Services Group, Inc.

Contact: PNC Media: R. Jeep Bryant, 412-762-4550,; or PNC Investors: William H. Callihan,
412-762-8257,; or Washington Mutual Media: Libby
Hutchinson, 206-461-2484; or Washington Mutual Investors: Ruthanne King,


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