IndyMac Announces the Election of Bruce G. Willison to the Board of Directors of IndyMac Bancorp, Inc.; New Director Currently Dean of the UCLA Anderson School of Management

Willison, 56, is the Dean of UCLA Anderson School of Management, aposition he has held since 1999. He was previously the President andCOO of H.F. Ahmanson and Company, a $55 billion consumer bankingcompany operating in 15 states. Willison also served as the ViceChairman of First Interstate Bancorp, a $58 billion commercial bankoffering national and international banking services. Concurrently,Willison served as the Chairman, President and Chief Executive Officerfor First Interstate Bank of California.

"We are very pleased to have Bruce join IndyMac's board ofdirectors," said Sen. John Seymour (ret.), Chairman of IndyMac'sNominating and Governance Committee. "Bruce's three-decade career infinancial services and his experience in senior management at some ofthe country's largest banks make him an excellent addition toIndyMac's board."

"I am honored to be joining IndyMac's Board. I am proud to be apart of a company that has an exceptional record of performance andone that I feel is on the right path for sustained and strong growth,"said Willison, Dean of the UCLA Anderson School of Management.

Willison is an independent director based on guidelinesestablished by the New York Stock Exchange. With his appointment, nineof 10 Directors on IndyMac Bancorp's Board of Directors areindependent. He will serve on the Board's Enterprise Risk ManagementCommittee and the Strategic and Financial Planning Committee. Inaddition, Willison meets the SEC definition of Audit Committeefinancial expert.

Prior to his 18-year tenure with First Interstate, Willison spentsix years as a vice president for Bank of America NT&SA. He currentlyserves as a corporate director for HealthNet, Inc., Homestore, Inc.and Sun America Inc.'s Fund Complex. He has also served on numerouscommunity boards including the United Way of Greater Los Angeles, andOperation Hope, Inc.

Willison graduated from the University of California, Los Angeles,with a degree in Economics and then earned an MBA in finance from theUniversity of Southern California. He served as a Lieutenant for theUnited States Navy from 1970 to 1972.

IndyMac Bancorp, Inc. is the holding company for IndyMac Bank(R),the largest savings and loan in Los Angeles County and the 10thlargest nationwide (based on assets). Through its hybridthrift/mortgage banking business model, IndyMac is in the business ofdesigning, manufacturing, and distributing cost-efficient financingfor the acquisition, development and improvement of single-familyhomes. IndyMac also provides financing secured by single-family homesto facilitate consumers' personal financial goals and strategicallyinvests in single-family mortgage-related assets.

IndyMac utilizes its award-winning e-MITS(R) technology platformto facilitate automated underwriting, risk-based pricing and rate lockof home loans on a nationwide basis via the Internet at the point ofsale. IndyMac provides mortgage products and services through variousmortgage banking divisions and invests in certain of its mortgage loanproduction and mortgage servicing for long-term returns.

IndyMac Bank also offers a wide array of Web-enhanced bankingservices, including deposits, competitive CD and money marketaccounts, and online bill payment services. IndyMac Bank is FDICinsured.

IndyMac's total annualized return to shareholders of 24 percentfor the period 1993 through June 30, 2005, under its currentmanagement team, has exceeded the comparable returns of 12 percent and10 percent for the Dow Jones Industrial Average and S&P 500,respectively, for the same period.

For more information about IndyMac and its affiliates, or tosubscribe to the Company's Email Alert feature for notification ofCompany news and events, please visit our Website atwww.indymacbank.com.