Results Delayed Pending Mortgage Review

W Holding Company Inc., Mayaguez, Puerto Rico, has announced that it will postpone the release of its financial results for the fourth quarter and for 2005 until it completes a review of the accounting presentation of certain mortgage-related transactions.W, the holding company of Westernbank Puerto Rico, said the review involves transactions entered into with Doral Financial Corp. from 2000 to 2005, and whether they represent "true sales" under Statement of Financial Accounting Standards No. 140. The review will also look at the hedge accounting treatment of certain rate swaps under SFAS No. 133. The company said the possible revised classification of the mortgage-related transactions -- previously reported as purchases of residential real estate loans -- "will not result in the need for additional reserves" and that the company "will remain well capitalized under FDIC rules." The company can be found online at http://www.wholding.com.