W Holding Company, Inc. Announces Termination of Formal SEC Investigation

MAYAGUEZ, Puerto Rico, Nov. 15  /PRNewswire-FirstCall/ -- W Holding Company, Inc. (NYSE: "WHI"), the financial holding company of Westernbank Puerto Rico, today announced that the Securities and Exchange Commission (SEC) has formally notified W Holding that the SEC investigation related to the other-than-temporary impairment charges announced by W Holding in April 2003 in connection with its investments in corporate bond and loan obligations has been completed. No enforcement action has been recommended against W Holding or any of its officers.

About the Company

Westernbank Puerto Rico, a wholly owned subsidiary of W Holding Company, Inc., is the second-largest commercial bank in Puerto Rico, based on total assets, operating through 56 full-fledged branches, including 33 in the southwestern region of Puerto Rico, 7 in the northeastern region, 14 in the San Juan Metropolitan area and 2 in the eastern region of Puerto Rico, and a fully functional banking site on the Internet. W Holding Company, Inc. also owns Westernbank Insurance Corp., a general insurance agent placing property, casualty, life and disability insurance, whose results of operations and financial condition are reported on a consolidated basis.

You may contact Mr. Vixson Baez with appropriate questions regarding this press release at [phone] ext. 5535, or via email at  or ; or visit http://www.wholding.com/. 

DATASOURCE: W Holding Company, Inc.



CONTACT:  Vixson Frank Baez, W Holding Company, [phone], ext.

5535,  or 



Web site:  http://www.wholding.com/ 

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