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                            SCHEDULE 14A INFORMATION
                 REVOCATION STATEMENT PURSUANT TO SECTION 14(a)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

Filed by the Registrant /X/
 
Filed by a Party other than the Registrant / /
 
Check the appropriate box:
 
/ /  Preliminary Proxy Statement (Revocation of Consent Statement) 
/ /  Confidential, for Use of the Commission Only (as permitted by 
     Rule 14s-6(e)(2))
/ /  Definitive Proxy Statement (Revocation of Consent Statement)
/x/  Definitive Additional Materials
/x/  Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12
 
                      GREAT WESTERN FINANCIAL CORPORATION
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                (Name of Registrant as Specified In Its Charter)

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    (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
 
Payment of Filing Fee (Check the appropriate box):
 
/x/  No fee required.                                                          
 
/ /  Fee computed on table below per Exchange Act Rules 14s-6(i)(1) and 0-11.
 
     (1)  Title of each class of securities to which transaction applies:
 
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     (2)  Aggregate number of securities to which transaction applies:
 
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     (3)  Per unit price or other underlying value of transaction computed
          pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
          filing fee is calculated and state how it was determined):
 
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     (4)  Proposed maximum aggregate value of transactions:
 
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     (5)  Total fee paid:
 
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/ /  Fee paid previously with preliminary materials.
 
/ /  Check box if any part of the fee is offset as provided by Exchange Act Rule
     0-11(a)(2) and identify the filing for which the offsetting fee was paid
     previously. Identify the previous filing by registration statement number,
     or the Form or Schedule and the date of its filing.
 
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        Attached is a revised slide to the presentation to investment analysts
which was filed with the Securities and Exchange Commission on March 24, 1997. 

        Beginning on March 26, 1997, the materials, as revised, will be used 
by Great Western Financial Corporation on an ongoing basis in presentations to
the investment community.
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        As of March 14, 1997, Goldman Sachs held positions in Great Western
Securities and Washington Mutual Securities as principal as follows: (i) net
"long" 9,669 of Great Western's common shares; (ii) net "long" $1 million of
Great Western's deposit notes; and (iii) net "long" 1,098 shares of Washington
Mutual's common stock. As of March 14, 1997, Merrill Lynch had positions in
Great Western Securities and Washington Mutual Securities as principal as
follows: (i) net "long" 8,800 of Great Western's common shares; (ii) net "long"
1,775 shares of Great Western's 8.30% cumulative perpetual preferred stock; and
(iii) net "long" 1,527 of Washington Mutual's common  shares.

        Other participants in the solicitation include Washington Mutual and may
include the directors of Washington Mutual (Douglas P. Beighle, David
Bounderman, Herbert M. Bridge, J. Taylor Crandall, Robert H. Eigsti, John W.
Ellis, Daniel J. Evans, Anne V. Farrell, William P. Gerberding, Kerry K.
Killinger, Samuel B. McKinney, Michael K. Murphy, Louis H. Pepper, William G.
Reed, Jr. and James E. Stever); the following executive officers of Washington
Mutual: Lee D. Lannoye, William A. Longbrake, Deanna W. Oppenheimer, Craig E.
Tall and S. Liane Wilson; and the following other members of management of
Washington Mutual: Karen Christensen, JoAnn DeGrande, William Ehrlich, James B.
Fitzgerald, Marc Kittner and Douglas G. Wisdorf (collectively, the "Washington
Mutual Participants"). As of the date of this communication, David Bonderman, J.
Taylor Crandall and Kerry K. Killinger beneficially owned 1,894,141 shares,
6,549,755 shares and 1,044,224 shares of Washington Mutual common stock,
respectively. The remaining Washington Mutual Participants do not beneficially
own, individually or in the aggregate, in excess of 1% of Washington Mutual's
equity securities. The Washington Mutual Participants do not beneficially own,
individually or in the aggregate, in excess of 1% of Great Western's equity
securities. 

        Washington Mutual has retained Lehman Brothers Inc. ("Lehman Brothers")
to act as its financial advisor in connection with the Merger for which it
received and may receive substantial fees as well as reimbursement of
reasonable out-of-pocket expenses. In addition, Washington Mutual has agreed to
indemnify Lehman Brothers and certain persons related to it against certain
liabilities, including certain liabilities under the federal securities laws,
arising out of its engagement. Lehman Brothers is an investment banking firm 
that provides a full range of financial services for institutional and 
individual clients. Lehman Brothers does not admit that it or any of its
directors, officers or employees is a "participant" as defined in Schedule 14A
promulgated under the Securities Exchange Act of 1934, as amended, in the
solicitation, or that Schedule 14A requires the disclosure of certain
information concerning Lehman Brothers. In connection with Lehman Brothers'
role as financial advisor to Washington Mutual, Lehman Brothers and the
following investment banking employees of Lehman Brothers may communicate in
person, by telephone or otherwise with a limited number of institutions,
brokers or other persons who are stockholders of Washington Mutual and Great
Western: Steven B. Wolitzer, Philip R. Erlanger, Sanjiv Sobti, David J. Kim,
Craig P. Sweeney and Daniel A. Trznadel. In the normal course of its business
Lehman Brothers regularly buys and sells Washington Mutual Securities and Great
Western Securities for its own account and for the account of its customers,
which transactions may result from time to time in Lehman Brothers and its
associates having a net "long" or net "short" position in Washington Mutual
Securities, Great Western Securities, or option contracts or other derivatives
in or relating to Washington Mutual Securities or Great Western Securities. As
of March 14, 1997, Lehman Brothers had positions in Washington Mutual
Securities and Great Western Securities as follows: (i) net "short" 124 of
Washington Mutual's common shares; and (ii) net "short" 3,327 of Great
Western's common shares.