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
          14a-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
                   -----------------------------------------
                (Name of Registrant as Specified in Its Charter)

                   -----------------------------------------
    (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 14a-
          6(i)(1) and 0-11.

          (1)  Title of each class of securities to which transaction
               applies:

          (2)  Aggregate number of securities to which transaction
               applies:

          (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):  _____

          (4)  Proposed maximum aggregate value of transactions: _____________

          (5)  Total fee paid.
     --------
     {_}  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.

          (1)  Amount Previously Paid: _______________________________________

          (2)  Form, Schedule or Registration Statement No.: _________________

          (3)  Filing Party: _________________________________________________

          (4)  Date Filed: ___________________________________________________

                                 [ADVERTISEMENT]

     TO ALL GREAT WESTERN STOCKHOLDERS:
     ---------------------------------

     Q:   WHO SAID AHMANSON'S BANK IS LOW TECH AND MARGINALLY EFFICIENT,
          WITH A LACK OF BROAD PRODUCT KNOWLEDGE?

     A:   AHMANSON CEO CHARLES R. RINEHART, THAT'S WHO!

     Nobody knows a bank's problems better than its own Chief Executive
     Officer.  In February 1996, Ahmanson's Chairman and CEO, Charles R.
     Rinehart, made a candid presentation to securities analysts and
     covered, among other things, the future of his bank.  Here are some
     of the weaknesses he listed in this presentation.

          AHMANSON CEO RINEHART'S LIST OF SOME OF HIS BANK'S WEAKNESSES:

          o    LOW TECH
          o    MARGINALLY EFFICIENT
          o    LACK OF BROAD PRODUCT KNOWLEDGE

          HERE'S WHAT MR. RINEHART HASN'T TOLD YOU ABOUT HIS BANK'S FUTURE:

     AN AHMANSON-GREAT WESTERN MERGER WOULD MEAN A DIFFICULT AND TIME
     CONSUMING INTEGRATION PROCESS.  We believe Ahmanson's inferior and
     incompatible technology and systems pose a serious threat to its
     ability to achieve a smooth integration.  Ahmanson has a "home-
     grown" computer system for deposits which we believe should be
     replaced in the coming years and will result in substantial costs
     to Ahmanson.  Most of Washington Mutual's computers are already
     upgraded to year 2000 standards.  Great Western's system is much
     more advanced than Ahmanson's and is compatible with Washington
     Mutual's.

     AHMANSON'S FINANCIAL PROJECTIONS APPEAR TO US TO BE BASED ON
     DISRUPTIVE COST CUTTING AND FINANCIAL ENGINEERING.  We believe that
     Ahmanson's overly aggressive projections, especially its massive
     $2.8 billion stock buyback, would result in a very thinly
     capitalized company burdened with substantial goodwill charges
     against earnings.  In fact, Ahmanson's contemplated share
     repurchases represent over 150% of its pro forma net income (less
     preferred dividends) generated through 1999.

            In spite of its inferior proposal, Ahmanson persists in
           trying to solicit your consent.  Great Western's Board of
       Directors unanimously opposes the Ahmanson solicitation and urges
        you NOT to sign the WHITE consent card sent to you by Ahmanson

   WE URGE YOU TO SIGN, DATE AND MAIL THE BLUE CONSENT REVOCATION CARD TODAY.
                                          ----

                              [Great Western Logo]

     March 31, 1997

                                  IMPORTANT
             If you have any questions, please call our solicitor,
            GEORGESON & COMPANY INC.  Call toll free:  800-223-2064.
                     Banks and brokers call:  212-440-9800.

               Great Western Financial Corporation ("Great Western") and
     certain other persons named below may be deemed to be participants
     in the solicitation of proxies in connection with the merger of
     Great Western and a wholly-owned subsidiary of Washington Mutual,
     Inc. ("Washington Mutual") pursuant to which each outstanding share
     of Great Western common stock would be converted into 0.9 shares of
     Washington Mutual common stock (the "Merger").  The participants in
     this solicitation may include the directors of Great Western (James
     F. Montgomery, John F. Maher, Dr. David Alexander, H. Frederick
     Christie, Stephen E. Frank, John V. Giovenco, Firmin A. Gryp,
     Enrique Hernandez, Jr., Charles D. Miller, Dr. Alberta E. Siegel
     and Willis B. Wood, Jr.); the following executive officers of Great
     Western:  J. Lance Erikson, Carl F. Geuther, Michael M. Pappas, A.
     William Schenck III, Ray W. Sims and Jaynie M. Studenmund; and the
     following other members of management of Great Western:  Stephen F.
     Adams, Bruce F. Antenberg, Barry R. Barkley, Ian D. Campbell,
     Charles Coleman, Allen D. Meadows and John A. Trotter
     (collectively, the "Great Western Participants").  As of the date
     of this communication, James F. Montgomery and John F. Maher
     beneficially owned 605,488 shares and 611,762 shares of Great
     Western common stock, respectively (including shares subject to
     stock options exercisable within 60 days).  The remaining Great
     Western Participants do not beneficially own, individually or in
     the aggregate, in excess of 1% of Great Western's equity
     securities.

     Great Western has retained Goldman, Sachs & Co. ("Goldman Sachs")
     and Merrill Lynch & Co. ("Merrill Lynch") to act as its financial
     advisors in connection with the Merger, as well as the merger
     proposal by H. F. Ahmanson & Company, for which they received and
     may receive substantial fees, as well as reimbursement of
     reasonable out-of-pocket expenses.  In addition, Great Western has
     agreed to indemnify Goldman Sachs and Merrill Lynch and certain
     persons related to them against certain liabilities, including
     certain liabilities under the federal securities laws, arising out
     of their engagement.  Each of Goldman Sachs and Merrill Lynch is an
     investment banking firm that provides a full range of financial
     services for institutional and individual clients.  Neither Goldman
     Sachs nor Merrill Lynch admits 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 Goldman Sachs and Merrill Lynch. 
     In connection with Goldman Sachs's role as financial advisor to
     Great Western, Goldman Sachs and the following investment banking
     employees of Goldman Sachs may communicate in person, by telephone
     or otherwise with a limited number of institutions, brokers or
     other persons who are stockholders of Great Western:  Joe Wender,
     John Mahoney, Andy Gordon, Todd Owens and Andrea Vittorelli.  In
     connection with Merrill Lynch's role as financial advisor to Great
     Western, Merrill Lynch and the following investment banking
     employees of Merrill Lynch may communicate in person, by telephone
     or otherwise with a limited number of institutions, brokers or
     other persons who are stockholders of Great Western:  Herb Lurie,
     Louis S. Wolfe, Paul Wetzel, Frank V. McMahon, John Esposito, Alex
     Sun, Christopher Del-Moral Niles and Kavita Gupta.  In the normal
     course of their respective businesses Goldman Sachs and Merrill
     Lynch regularly buy and sell securities issued by Great Western and
     its affiliates ("Great Western Securities") and Washington Mutual
     and its affiliates ("Washington Mutual Securities") for its own
     account and for the accounts of its customers, which transactions
     may result from time to time in Goldman Sachs and its associates
     and Merrill Lynch and its associates having a net "long" or net
     "short" position in Great Western Securities, Washington Mutual
     Securities, or option contracts with other derivatives in or
     relating to Great Western Securities or Washington Mutual
     Securities.  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 of Washington Mutual's
     common shares.  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;  and (ii) net "long" of 1,775 shares of Great
     Western 8.30% 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 Bonderman, Herbert M. Bridge, J. Taylor Crandall,
     Roger 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
     H. Stever); the following executive officers of Washington Mutual: 
     Lee 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 accounts 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 with 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
     principal as follows:  (i) net "short" 124 of Washington Mutual's
     common shares; and, (ii) net "short" 3,327 of Great Western's
     common shares.