Westcorp Announces the Filing of a Registration Statement for a Follow-on Offering of its Common Stock

    IRVINE, Calif.--June 11, 2003--Westcorp today announced that it has filed with the Securities and Exchange Commission a registration statement to sell 4.5 million shares of common stock in an underwritten public offering of which Ernest Rady, Chairman of the Board of Directors and CEO of Westcorp and his affiliates have agreed to purchase 700,000 shares of stock offered thereby.
    A copy of the prospectus, when available, may be obtained by calling or writing the Prospectus Department at Credit Suisse First Boston LLC, Eleven Madison Avenue, New York, NY 10001, 212/325-2000.
    A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.