Sept. 18, 2008
-- Fashionism, LLC, the premier community for high end fashion and luxury goods, today announced their formal bid to acquire all of Washington Mutual. The offer from Fashionism, LLC fairly values WaMu's assets and liabilities and offers a great opportunity to merge a thriving community of internet fashionistas with an established banking presence.
Totaling over $1,000, the offer includes cash and a wide variety of assets. From the offer, WaMu additionally stands to gain credit at stores such as Banana Republic, Panera Bread, Starbucks and other fine companies. In this unprecedented time of an international credit crunch, Fashionism believes this deal would also substantially increase the amount of cash on WaMu's books. Fashionism and WaMu already have dynamic synergies with WaMu being a bank and Fashionism having a budgeting and money management discussion board.
About Fashionism, LLC
Founded in 2007, Fashionism is home to a growing body of hundreds of members and is the premier website to discuss fashion and style and everything else imaginable. Fashionism actively welcomes new members to the site and plans to expand in the future to offer more networking, interaction, and sponsored events. Fashionism can be reached on the web at www.fashionism.org.
WaMu, through its subsidiaries, is one of the nation's leading consumer and small business banks. On Dec. 31, 2007, WaMu and its subsidiaries had assets of $327.91 billion. The company has a history dating back to 1889 and its subsidiary banks currently operate approximately 2,500 consumer and small business banking stores throughout the nation. WaMu's news releases are available at www.wamu.com.