THE FINANCIAL COMPANY OF WESTERNBANK PUERTO RICO
SCHEDULES EARNINGS RELEASE AND
ANNOUNCES FOURTH QUARTER EARNINGS REVIEW TELECONFERENCE

Mayagüez, Puerto Rico, January 7, 2004, W HOLDING COMPANY, INC. (NYSE: "WHI"), the financial holding company of Westernbank Puerto Rico, announced that it has scheduled its earnings release for January 15, 2004 and that Frank C. Stipes and Freddy Maldonado, Chief Executive Officer and Chief Financial Officer, respectively will review W HOLDING’S fourth quarter results via teleconference on Friday, January 16, 2004, at 10:00 AM (Puerto Rico time, other USA times: 9:00 AM Eastern, 8:00 AM Central, 7:00 AM Mountain, or 6:00 AM Pacific time).

Westernbank Puerto Rico, the wholly-owned subsidiary of W HOLDING COMPANY, INC., is the third largest banking entity headquartered in Puerto Rico, in term of total assets operating throughout Puerto Rico through 50 full-fledged branches, including 31 in the Southwestern region of Puerto Rico, 8 in the Northeastern region, and 11 in the San Juan Metropolitan area of Puerto Rico. 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.