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New York – September 21, 2007 – Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”) (http://www.csgrr.com/cases/wholding/) today announced that a class action lawsuit has been commenced in the United States District Court for the District of Puerto Rico on behalf of purchasers of the publicly traded securities of W Holding Company, Inc. (“W Holding” or the “Company”) (NYSE:WHI) between April 24, 2006 and June 26, 2007, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/wholding/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges W Holding and certain of its officers and directors with violations of the Exchange Act. W Holding operates as the holding company for Westernbank, a commercial bank operating in Puerto Rico that offers an array of business and consumer financial products and services including banking and trust and brokerage services.

The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements that misrepresented and failed to disclose: (i) that the Company’s financial results during the Class Period were artificially inflated due to the Company’s failure to write-down the Inyx loans which were impaired. W Holding has now admitted that it is not likely to collect on the Inyx loans and that it will be toting a charge of at least $80 million; (ii) that the Company was improperly delayed the recognition of its impaired assets in order to inflate its reported income and asset quality; (iii) that the Company’s “regulatory capital” it claimed throughout the Class Period was similarly overstated; and (iv) that the Company’s “book value” per share was materially overstated; and as more fully described in the complaint, the Company’s published financial statements violated U.S. Generally Accepted Accounting Principles.

According to the complaint, on June 26, 2007, W Holding filed a Form 8-K with the SEC which reported that the Company had determined that “one of its larger asset-based loans” is impaired. In response to the Company’s announcement, the price of W Holdings stock dropped from $5.01 per share to $3.14 per share on extremely heavy trading volume and continued to decline, falling to $2.64 per share on June 29, 2007.

Plaintiff seeks to recover damages on behalf of a Class consisting of all persons other than Defendants who purchased the publicly traded securities of W Holding between April 24, 2006 and June 26, 2007, inclusive, seeking to pursue remedies under the Exchange Act. The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 180-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Houston and Philadelphia, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. Coughlin Stoia lawyers have been responsible for more than $45 billion in aggregate recoveries. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm. Contact: Coughlin Stoia Geller Rudman & Robbins LLP Samuel H. Rudman, 800-449-4900 David A. Rosenfeld djr@csgrr.com