EXHIBIT 99.1

         World Savings Announces $8 Billion Bank Note Program

    OAKLAND, Calif.--(BUSINESS WIRE)--Nov. 15, 2004--World Savings
Bank, FSB, a subsidiary of Golden West Financial Corporation
(NYSE:GDW), today announced the launch of a bank note program for the
possible issuance of $8 billion of unsecured, senior bank notes with
maturities ranging from 270 days to 30 years.
    "The bank note program gives the Company more flexibility when
accessing the capital markets and allows us to further diversify
borrowings if conditions are favorable," stated Russell W. Kettell,
President and Chief Financial Officer of Golden West. Kettell added:
"We anticipate that World's high credit ratings and risk-averse
business model will continue to appeal to a broad range of debt
investors."
    World Savings currently has an unsecured, senior debt rating of
Aa3 from Moody's Investors Services and AA- from Standard & Poor's.
    Lehman Brothers Inc. is the arranger for the bank note program as
well as a dealer on it. The other named dealers are Bear, Stearns &
Co. Inc., Citigroup Global Markets Inc., Credit Suisse First Boston
LLC, Goldman, Sachs & Co., J.P. Morgan Securities Inc., Merrill Lynch,
Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co.
Incorporated. World Savings may also sell notes directly to investors
or appoint other dealers.
    The notes will be unsecured and uninsured direct obligations of
World Savings and will not be guaranteed by Golden West or any other
affiliates of World. The notes have not been, and are not required to
be, registered with the Securities and Exchange Commission. The notes
are being offered and sold pursuant to an abbreviated registration
procedure permitted by the Office of Thrift Supervision. Investors
must be institutional accredited investors and hold the notes in
minimum denominations of $250,000. This communication does not
constitute an offer of any securities for sale.
    Headquartered in Oakland, California, Golden West is one of the
nation's largest financial institutions with assets over $100 billion
as of September 30, 2004. The Company has one of the most extensive
thrift branch systems in the country, with 276 savings branches in 10
states and lending operations in 38 states. Golden West's stock is
listed on the New York Stock and Pacific Exchanges under the ticker
symbol GDW. Options on the Company's stock are traded on the Chicago
Board Options Exchange and on the Pacific Exchange.
    Golden West investor information is available at www.gdw.com.
Information about the Company's home loans and savings and checking
accounts can be found at www.worldsavings.com and about its
proprietary no-load mutual funds and annuities at www.atlasfunds.com.

    Information in this press release may contain various
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
include projections, statements of the plans and objectives of
management for future operations, statements of future economic
performance, assumptions underlying these statements and other
statements that are not statements of historical facts.
Forward-looking statements are subject to significant business,
economic and competitive risks, uncertainties and contingencies, many
of which are beyond the Company's control. Should one or more of these
risks, uncertainties or contingencies materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those anticipated. Among the key risk factors that may
have a direct bearing on Golden West's results of operations and
financial condition are competitive practices in the financial
services industries; operational and systems risks; general economic
and capital market conditions, including fluctuations in interest
rates; economic conditions in certain geographic areas; and the impact
of current and future laws, governmental regulations, and accounting
and other rulings and guidelines affecting the financial services
industry in general and the Company's operations in particular. In
addition, actual results may differ materially from the results
discussed in any forward-looking statements.

    CONTACT: Golden West Financial Corporation
             William C. Nunan, 510-446-3614