THE FINANCIAL HOLDING COMPANY OF
WESTERNBANK PUERTO RICO
SCHEDULES EARNINGS RELEASE

Mayagüez, Puerto Rico, October 17, 2005, W HOLDING COMPANY, INC. (NYSE: "WHI"), the financial holding company of Westernbank Puerto Rico, announced that it has scheduled its earnings release for October 21, 2005 before the opening of the market and that Messrs. Frank C. Stipes, Esq., Chairman of the Board and Chief Executive Officer of W Holding Company, Inc., Freddy Maldonado, President of W Holding Company, Inc., José M. Biaggi, Esq., President and Chief Executive Officer of Westernbank Puerto Rico, Ricardo Hernández, Chief Financial Officer, and Carmen T. Casellas, Investor Relations, will be available to answer appropriate questions.

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 throughout 53 full-fledged branches, including 33 in the Southwestern region of Puerto Rico, 7 in the Northeastern region, 12 at the San Juan Metropolitan area of Puerto Rico and one 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.