Westcorp Announces Cash Dividend

IRVINE, Calif.--Aug. 16, 2004--Westcorp , the diversified financial services company whose principal subsidiaries are WFS Financial Inc and Western Financial Bank, declared on Aug. 16, 2004, a cash dividend of $0.14 per share. The dividend will be paid on Nov. 2, 20043, 2004, for shareholders of record as of Nov. 9, 2004.

Westcorp is a financial services holding company whose principal subsidiaries are WFS Financial Inc and Western Financial Bank. Westcorp is a publicly owned company whose common stock is traded on the New York Stock Exchange under the symbol WES. Information about Westcorp can be found at its Web site at http://www.westcorpinc.com.

Westcorp, through its subsidiary, Western Financial Bank, operates 20 retail bank branches and provides commercial banking services in Southern California. Information on the products and services offered by the bank can be found at its Web site at http://www.wfb.com.

Westcorp, through its subsidiary, WFS Financial, is one of the nation's largest independent automobile finance companies. WFS Financial specializes in originating, securitizing, and servicing new and pre-owned prime and non-prime credit quality automobile contracts through its nationwide relationships with automobile dealers. Information about WFS Financial can be found at its Web site at http://www.wfsfinancial.com.