Mayagüez, Puerto Rico, January 31, 2007. W HOLDING COMPANY, INC. (NYSE: "WHI"), the financial holding company of WESTERNBANK PUERTO RICO, announced today that yesterday, January 30, 2007, the Company’s Board of Directors decided to maintain its annual dividend payment of $0.19 per share on the Company’s common stock to be declared during the year 2007.

In line with the Company’s dividend payment guidelines, cash dividends will continue to be payable on a monthly basis at a fraction of $0.01583 per share on the 15th day (or next business day) of each month to stockholders of record as of the last day of the preceding month.

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 throughout 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 of Puerto Rico 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 F. Baez, with appropriate questions regarding this press release at (787) 834-8000 ext. 5535, or via email at vixson.baez@wbpr.com or westernbank@wbpr.com; or visit http://www.wholding.com.