Document:

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                                                                     EXHIBIT 4.5

                         PROVIDIAN FINANCIAL CORPORATION

                             WASHINGTON MUTUAL, INC.

                                       AND

                           NEW AMERICAN CAPITAL, INC.

                                       and

                 J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION

            (as successor trustee to Bank One Trust Company, N.A. and
                       The First National Bank of Chicago)

                                   as Trustee

                                   ----------

                          FIFTH SUPPLEMENTAL INDENTURE

                           DATED AS OF OCTOBER 1, 2005

                                   ----------

                 SUPPLEMENT TO INDENTURE DATED AS OF MAY 1, 1999

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                                TABLE OF CONTENTS

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                                                                            PAGE
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<S>                                                                         <C>
SECTION 1.  CAPITALIZED TERMS............................................     2

SECTION 2.  AMENDMENTS TO THE INDENTURE..................................     2

SECTION 3.  AMENDMENTS TO THE SECOND SUPPLEMENTAL INDENTURE..............    13

SECTION 4.  AMENDMENTS TO THE THIRD SUPPLEMENTAL INDENTURE...............    17

SECTION 5.  AMENDMENTS TO THE FOURTH SUPPLEMENTAL INDENTURE..............    24

SECTION 6.  ASSUMPTION AGREEMENT.........................................    33

SECTION 7.  RATIFICATION AND EFFECT......................................    33

SECTION 8.  GOVERNING LAW................................................    33

SECTION 9.  COUNTERPART ORIGINALS........................................    33

SECTION 10. THE TRUSTEE..................................................    33
</TABLE>

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THIS FIFTH SUPPLEMENTAL INDENTURE (this "FIFTH SUPPLEMENTAL INDENTURE"), dated
as of October 1, 2005, is by and among Providian Financial Corporation, a
Delaware corporation ("PROVIDIAN"), Washington Mutual, Inc., a Washington
corporation ("WASHINGTON MUTUAL"), New American Capital, Inc., a Delaware
corporation and a wholly owned subsidiary of Washington Mutual ("WM SUB"), and
J.P. Morgan Trust Company, National Association, a national banking association
duly organized and existing under the laws of the United States of America, as
Trustee under the Indenture (as hereinafter defined) (the "TRUSTEE").

                                    RECITALS

WHEREAS, Providian and the Trustee (as successor in interest to Bank One Trust
Company, N.A., which was successor in interest to The First National Bank of
Chicago), are parties to an Indenture dated as of May 1, 1999 (as supplemented
or amended from time to time, the "INDENTURE") providing for the issuance by
Providian of securities from time to time;

WHEREAS, Providian and the Trustee executed and delivered a First Supplemental
Indenture, dated as August 23, 2000 (the "FIRST SUPPLEMENTAL INDENTURE"),
providing for the issuance of Providian's 3.25% Convertible Senior Notes due
August 15, 2005, none of which notes are currently outstanding;

WHEREAS, Providian and the Trustee executed and delivered a Second Supplemental
Indenture, dated as February 15, 2001 (the "SECOND SUPPLEMENTAL INDENTURE"),
providing for the issuance of Providian's Zero Coupon Convertible Notes Due
February 15, 2021;

WHEREAS, Providian and the Trustee executed and delivered a Third Supplemental
Indenture, dated as May 27, 2003 (the "THIRD SUPPLEMENTAL INDENTURE"), providing
for the issuance of Providian's 4% Convertible Senior Notes due May 15, 2008;

WHEREAS, Providian and the Trustee executed and delivered a Fourth Supplemental
Indenture, dated as March 19, 2004 (the "FOURTH SUPPLEMENTAL INDENTURE"),
providing for the issuance of Providian's 2-3/4% Convertible Cash to Accreting
Senior Notes due March 15, 2016;

WHEREAS, pursuant to Section 901 of the Indenture, Providian and the Trustee may
amend or supplement the Indenture to evidence the succession of another Person
to Providian and the assumption by any such successor of the covenants of
Providian therein and in the Securities and to make any provision with respect
to matters arising under the Indenture that does not adversely affect the rights
of the Holders of Securities of any series in any material respect;

WHEREAS, Providian has entered into a merger agreement with Washington Mutual
and WM Sub, dated as of June 5, 2005 (as amended, the "MERGER AGREEMENT"),
pursuant to which the parties thereto have agreed that, upon satisfaction of the
conditions set forth in the Merger Agreement, Providian will merge with and into
WM Sub, with WM Sub continuing as the surviving corporation (the "MERGER");

WHEREAS, Section 801 of the Indenture requires WM Sub to execute and deliver to
the Trustee a supplemental indenture in connection with the Merger, and this
Fifth Supplemental Indenture and the amendments set forth herein are authorized
pursuant to Section 901 of the Indenture referred to above;

                                      -1-

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WHEREAS, Parent has agreed to fully and unconditionally guarantee the Company's
obligations under the Indenture, as supplemented or amended from time to time,
and the Securities, which guarantee is provided in this Fifth Supplemental
Indenture;

WHEREAS, the execution and delivery of this Fifth Supplemental Indenture has
been duly authorized by the parties hereto, and all other acts necessary to make
this Fifth Supplemental Indenture a valid and binding supplement to the
Indenture effectively amending the Indenture as set forth herein have been duly
taken;

NOW, THEREFORE, THIS FIFTH SUPPLEMENTAL INDENTURE WITNESSETH: For and in
consideration of the premises and the purchase of the Securities by the Holders
thereof, it is mutually agreed, for the equal and proportionate benefit of all
Holders of the Securities, as follows:

SECTION 1. CAPITALIZED TERMS.

Capitalized terms used herein without definition shall have the meanings
ascribed to them in the Indenture or in an applicable Supplemental Indenture, as
the case may be. Unless the context otherwise requires, all references to the
Indenture shall mean the Indenture as amended and supplemented hereby; all
references to the First Supplemental Indenture shall mean the First Supplemental
Indenture as amended and supplemented hereby; all references to the Second
Supplemental Indenture shall mean the Second Supplemental Indenture as amended
and supplemented hereby; all references to the Third Supplemental Indenture
shall mean the Third Supplemental Indenture as amended and supplemented hereby;
and all references to the Fourth Supplemental Indenture shall mean the Fourth
Supplemental Indenture as amended and supplemented hereby.

SECTION 2. AMENDMENTS TO THE INDENTURE.

From and after the time at which the Merger becomes effective in accordance with
the Delaware General Corporation Law (the "EFFECTIVE TIME"), Providian,
Washington Mutual, WM Sub and the Trustee hereby agree as follows:

     (a)  Section 101 is amended to include the following definitions:

          "PARENT" means Washington Mutual, Inc., a Washington corporation,
          until a successor replaces it pursuant to the applicable provisions of
          this Indenture and, thereafter, shall mean such successor. The
          foregoing sentence shall likewise apply to any subsequent successor or
          successors.

          "PARENT BOARD OF DIRECTORS" means either the board of directors of
          Parent or any duly authorized committee of that board.

          "PARENT BOARD RESOLUTION" means a copy of a resolution certified by
          the Secretary or an Assistant Secretary of Parent to have been duly
          adopted by the Board of Directors of Parent and to be in full force
          and effect on the date of such certification, and delivered to the
          Trustee.

                                                         Amendments to Indenture

                                      -2-

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          "PARENT OFFICERS' CERTIFICATE" means a certificate signed by the
          chairman of the board of directors, a vice chairman of the board of
          directors, the president or a Vice President, and by the treasurer, an
          assistant treasurer, the secretary or an assistant secretary, of
          Parent, and delivered to the Trustee.

          "PARENT REQUEST" or "PARENT ORDER" means a written request or order
          signed in the name of Parent by the chairman of the board of
          directors, a vice chairman of the board of directors, the president or
          a Vice President, and by the treasurer, an assistant treasurer, the
          secretary or an assistant secretary, of Parent, and delivered to the
          Trustee.

          "WMB" means Washington Mutual Bank.

     (b) The following definitions in Section 101 of the Indenture are amended
and restated in their entirety to read as follows:

          "COMPANY" means New American Capital, Inc. until a successor replaces
          it pursuant to the applicable provisions of this Indenture and,
          thereafter, shall mean such successor.

          "VICE PRESIDENT" when used with respect to the Company, Parent or the
          Trustee, means any vice president, whether or not designated by a
          number or a word or words added before or after the title "vice
          president."

     (c) The term "PNB" and its associated definition are hereby deleted from
Section 101.

     (d) The second paragraph of Section 103 is amended and restated as follows:

          "Any certificate or opinion of an officer of the Company or Parent may
          be based, insofar as it relates to legal matters, upon a certificate
          or opinion of, or representations by, counsel, unless such officer
          knows, or in the exercise of reasonable care should know, that the
          certificate or opinion or representations with respect to the matters
          upon which his certificate or opinion is based are erroneous. Any such
          certificate or opinion of counsel may be based, insofar as it relates
          to factual matters, upon a certificate or opinion of, or
          representations by, an officer or officers of the Company or Parent,
          as applicable, stating that the information with respect to such
          factual matters is in the possession of the Company or Parent,
          respectively, unless such counsel knows, or in the exercise of
          reasonable care should know, that the certificate or opinion or
          representations with respect to such matters are erroneous."

     (e) The fourth paragraph of Section 104 is amended by replacing the term
"the Company" with "the Company or Parent".

     (f) Section 105 is amended and restated to read in its entirety as follows:

          "Notices, Etc., to Trustee, Company and Parent.

                                                         Amendments to Indenture

                                       -3-

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          Any request, demand, authorization, direction, notice, consent, waiver
          or Act of Holders or other document provided or permitted by this
          Indenture to be made upon, given or furnished to, or filed with,

          (1) the Trustee by any Holder, the Company or Parent shall be
          sufficient for every purpose hereunder if made, given, furnished or
          filed in writing to or with the Trustee at its Corporate Trust Office,
          Attention: Corporate Trust Administrator, or

          (2) the Company or Parent by the Trustee or by any Holder shall be
          sufficient for every purpose hereunder (unless otherwise herein
          expressly provided) if in writing and mailed, first-class postage
          prepaid, to the Company or Parent addressed to the address of its
          principal office specified in the first paragraph of this instrument
          or at any other address previously furnished in writing to the Trustee
          by the Company or Parent, as applicable."

     (g) Section 109 is amended and restated to read in its entirety as follows:

          "Successors and Assigns. All covenants and agreements in this
          Indenture by the Company or Parent shall bind each of their respective
          successors and assigns, whether so expressed or not."

     (h) Section 114 is hereby added to the Indenture, as follows:

          "Section 114 Company Actions or Rights. Any action or right reserved
          to or retained by the Company pursuant to this Indenture and/or the
          Securities may be taken by Parent without the consent of the Trustee
          or any Holder and Parent shall be entitled to execute any and all
          future documents and/or instruments in furtherance of any such action
          or right."

     (i) The first clause of the first sentence of the Form of Face of Security
set forth in Section 202 is amended to read as follows:

          "New American Capital, Inc., a corporation duly organized and existing
          under the laws of the State of Delaware (herein called the "COMPANY",
          which term includes any successor Person under the Indenture
          hereinafter referred to),"

     (j) The first sentence of Section 203 is amended to read as follows:

          "This Security is one of a duly authorized issue of securities of the
          Company (herein called the "SECURITIES"), issued and to be issued in
          one or more series under an Indenture, dated as of _________ (herein
          called the "INDENTURE", which term shall have the meaning assigned to
          it in such instrument), between the Company, Parent, and __________,
          as Trustee (herein called the "TRUSTEE", which term includes any
          successor trustee under the Indenture), and reference is hereby made
          to the Indenture for a statement of the respective rights, limitations
          of rights, duties and immunities thereunder of the Company, Parent,
          the Trustee

                                                         Amendments to Indenture

                                      -4-

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          and the Holders of the Securities and of the terms upon which the
          Securities are, and are to be, authenticated and delivered."

     (k) The tenth paragraph of Section 203 is amended and restated to read as
follows:

          "The Indenture permits, with certain exceptions as therein provided,
          the amendment thereof and the modification of the rights and
          obligations of the Company and Parent and the rights of the Holders of
          the Securities of each series to be affected under the Indenture at
          any time by the Company, Parent and the Trustee with the consent of
          the Holders of 66 2/3% in principal amount of the Securities at the
          time Outstanding of each series to be affected. The Indenture also
          contains provisions permitting the Holders of specified percentages in
          principal amount of the Securities of each series at the time
          Outstanding, on behalf of the Holders of all Securities of such
          series, to waive compliance by the Company or Parent with certain
          provisions of the Indenture and certain past defaults under the
          Indenture and their consequences. Any such consent or waiver by the
          Holder of this Security shall be conclusive and binding upon such
          Holder and upon all future Holders of this Security and of any
          Security issued upon the registration of transfer hereof or in
          exchange herefor or in lieu hereof, whether or not notation of such
          consent or waiver is made upon this Security."

     (l) The sixteenth paragraph of Section 203 is amended and restated to read
as follows:

          "Prior to due presentment of this Security for registration of
          transfer, the Company, Parent, the Trustee and any agent of the
          Company, Parent or the Trustee may treat the Person in whose name this
          Security is registered as the owner hereof for all purposes, whether
          or not this Security be overdue, and none of the Company, Parent, the
          Trustee nor any such agent shall be affected by notice to the
          contrary."

     (m) Section 308 is amended and restated to read as follows:

          "Persons Deemed Owners. Prior to due presentment of a Security for
          registration of transfer, the Company, Parent, the Trustee and any
          agent of the Company, Parent or the Trustee may treat the Person in
          whose name such Security is registered as the owner of such Security
          for the purpose of receiving payment of principal of and any premium
          and (subject to Section 307) any interest on such Security and for all
          other purposes whatsoever, whether or not such Security be overdue,
          and neither the Company, Parent, the Trustee nor any agent of the
          Company, Parent or the Trustee shall be affected by notice to the
          contrary."

     (n) Paragraph (5) of Section 501 is hereby amended and restated to read in
their entirety as follows:

          "(5) if any event of default as defined in any mortgage, indenture or
          instrument under which there may be issued, or by which there may be
          secured or evidenced, any indebtedness of the Company or WMB for money
          borrowed, whether such

                                                         Amendments to Indenture

                                      -5-

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          indebtedness now exists or shall hereafter be created, shall happen
          and shall result in such indebtedness in principal amount in excess of
          $5,000,000 becoming or being declared due and payable prior to the
          date on which it would otherwise become due and payable, and such
          acceleration shall not be rescinded or annulled within a period of 30
          days after there shall have been given, by registered or certified
          mail, to the Company by the Trustee or to the Company and the Trustee
          by the Holders of not less than 25% in principal amount of the
          Outstanding Securities of that series, a written notice specifying
          such event of default and requiring the Company to cause such
          acceleration to be rescinded or annulled and stating that such notice
          is a "NOTICE OF DEFAULT" hereunder; or"

     (o) Section 509 is amended by replacing the phrase "the Company" as it
appears therein with "the Company, Parent".

     (p) Section 514 is amended and restated to read as follows:

          "Undertaking for Costs. In any suit for the enforcement of any right
          or remedy under this Indenture, or in any suit against the Trustee for
          any action taken, suffered or omitted by it as Trustee, a court may
          require any party litigant in such suit to file an undertaking to pay
          the costs of such suit, and may assess costs against any such party
          litigant, in the manner and to the extent provided in the Trust
          Indenture Act; provided that neither this Section nor the Trust
          Indenture Act shall be deemed to authorize any court to require such
          an undertaking or to make such an assessment in any suit instituted by
          the Company, in any suit instituted by Parent, in any suit instituted
          by the Trustee, in any suit instituted by any Holder, or group of
          Holders, holding in the aggregate not less than 25% in principal
          amount of the Outstanding Securities of any series, or in any suit
          instituted by any Holder for the enforcement of the payment of the
          principal of and any premium and interest on any Security on or after
          the Stated Maturity or Maturities expressed in such Security (or, in
          the case of redemption, on or after the Redemption Date)."

     (q) Paragraphs (2), (3) and (6) of Section 603 are amended and restated to
read in their entirety as follows:

          "(2) any request or direction of the Company or Parent mentioned
          herein shall be sufficiently evidenced by a Company Request or Parent
          Request, as applicable, or Company Order or Parent Order, as
          applicable, and any resolution of the Board of Directors or the Parent
          Board of Directors shall be sufficiently evidenced by a Board
          Resolution or a Parent Board Resolution, as applicable;"

          "(3) whenever in the administration of this Indenture the Trustee
          shall deem it desirable that a matter be proved or established prior
          to taking, suffering or omitting any action hereunder, the Trustee
          (unless other evidence be herein specifically prescribed) may, in the
          absence of bad faith on its part, request and rely upon an Officers'
          Certificate or a Parent Officers' Certificate, as applicable;"

                                                         Amendments to Indenture

                                      -6-

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          "(6) the Trustee shall not be bound to make any investigation into the
          facts or matters stated in any resolution, certificate, statement,
          instrument, opinion, report, notice, request, direction, consent,
          order, bond, debenture, note, other evidence of indebtedness or other
          paper or document, but the Trustee, in its discretion, may make such
          further inquiry or investigation into such facts or matters as it may
          see fit, and, if the Trustee shall determine to make such further
          inquiry or investigation, it shall be entitled to examine the books,
          records and premises of the Company and Parent, personally or by agent
          or attorney;"

     (r) The portion of the first sentence of the second paragraph of Section
611 beginning with the words "In case" and ending with the words "deliver an
indenture supplemental hereto" is amended and restated to read as follows:

          "In case of the appointment hereunder of a successor Trustee with
          respect to the Securities of one or more (but not all) series, the
          Company, Parent, the retiring Trustee and each successor Trustee with
          respect to the Securities of one or more series shall execute and
          deliver an indenture supplemental hereto"

     (s) The third paragraph of Section 611 is amended by replacing the term
"Company" with "Company and Parent".

     (t) Section 704 is amended by replacing the term "Company" with "Company
and Parent".

     (u) The first paragraph of Section 901 is amended and restated to read in
its entirety as follows:

          "Without the consent of any Holders, the Company, when authorized by a
          Board Resolution, Parent, when authorized by a Parent Board
          Resolution, and the Trustee, at any time and from time to time, may
          enter into one or more indentures supplemental hereto, in form
          satisfactory to the Trustee, for any of the following purposes:"

     (v) Paragraphs (1) and (2) of Section 901 are amended and restated to read
in their entirety as follows:

          "(1) to evidence the succession of another Person to the Company or
          Parent and the assumption by any such successor of the covenants of
          the Company or Parent, as applicable, herein and in the Securities;
          or"

          "(2) to add to the covenants of the Company or Parent for the benefit
          of the Holders of all or any series of Securities (and if such
          covenants are to be for the benefit of less than all series of
          Securities, stating that such covenants are expressly being included
          solely for the benefit of such series) or to surrender any right or
          power herein conferred upon the Company; or"

     (w) The first paragraph of Section 902 is amended and restated to read in
its entirety as follows:

                                                         Amendments to Indenture

                                      -7-

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          "With the consent of the Holders of not less than 66 2/3% in principal
          amount of the Outstanding Securities of each series affected by such
          supplemental indenture, by Act of said Holders delivered to the
          Company and the Trustee, the Company, when authorized by a Board
          Resolution, Parent, when authorized by a Parent Board Resolution, and
          the Trustee may enter into an indenture or indentures supplemental
          hereto for the purpose of adding any provisions to or changing in any
          manner or eliminating any of the provisions of this Indenture or of
          modifying in any manner the rights of the Holders of Securities of
          such series under this Indenture; provided, however, that no such
          supplemental indenture shall, without the consent of the Holder of
          each Outstanding Security affected thereby,"

     (x) Section 903 is amended and restated to read in its entirety as follows:

          "Execution of Supplemental Indentures. In executing, or accepting the
          additional trusts created by, any supplemental indenture permitted by
          this Article or the modifications thereby of the trusts created by
          this Indenture, the Trustee shall be entitled to receive, and (subject
          to Section 601) shall be fully protected in relying upon, an Opinion
          of Counsel, an Officer's Certificate and a Parent Officer's
          Certificate, each stating that the execution of such supplemental
          indenture is authorized or permitted by this Indenture. The Trustee
          may, but shall not be obligated to, enter into any such supplemental
          indenture which affects the Trustee's own rights, duties or immunities
          under this Indenture or otherwise."

     (y) Section 1005, Section 1008 and Section 1009 are amended by replacing
the term "PNB" with the term "WMB" in every instance in which it appears in such
sections.

     (z) Article XIV is hereby added to the Indenture, which Article XIV shall
read in its entirety as follows:

                                  "ARTICLE XIV

                                    GUARANTEE

     Section 1401 Guarantee.

          (1) Subject to Section 1401(2) below, Parent hereby irrevocably and
          unconditionally guarantees (such guarantee being the "GUARANTEE") to
          each Holder of a Security authenticated and delivered by the Trustee
          and to the Trustee and its successors and assigns, irrespective of the
          validity and enforceability of this Indenture and the Securities
          hereunder, that: (i) the principal of, premium, if any, and interest
          on the Securities promptly will be paid in full when due, whether at
          the Maturity, by acceleration, call for redemption or otherwise, and
          interest on the overdue principal, premium, if any, and interest, if
          any, of the Securities, if lawful, and all other obligations of the
          Company to the Holders and the Trustee hereunder or thereunder will be
          promptly paid in full or performed, all in accordance with the terms
          hereof and thereof, and (ii) in case of any extension of time of
          payment or renewal of any Securities or any of such other obligations,
          the

                                                         Amendments to Indenture

                                      -8-

<PAGE>

          same will be promptly paid in full when due or performed in accordance
          with the terms of the extension or renewal, whether at Stated
          Maturity, by acceleration or otherwise. Failing payment when due by
          the Company of any amount so guaranteed for whatever reason, Parent
          shall be obligated to pay the same immediately. Parent hereby agrees
          that its obligations hereunder shall be unconditional, irrespective of
          the validity, regularity or enforceability of the Securities or this
          Indenture, the absence of any action to enforce the same, any waiver
          or consent by any Holder of the Securities with respect to any
          provisions hereof or thereof, the recovery of any judgment against the
          Company, any action to enforce the same or any other circumstance
          which might otherwise constitute a legal or equitable discharge or
          defense of a guarantor. Parent hereby waives diligence, presentment,
          demand of payment, filing of claims with a court in the event of
          insolvency or bankruptcy of the Company, any right to require a
          proceeding first against the Company, protest, notice and all demands
          whatsoever and covenants that this Guarantee shall not be discharged
          except by complete performance of the obligations contained in the
          Securities and this Indenture. If any Holder or the Trustee is
          required by any court or otherwise to return to the Company or any
          custodian, Trustee, liquidator or other similar official acting in
          relation to the Company, any amount paid by the Company to the Trustee
          or such Holder, this Guarantee, to the extent theretofore discharged,
          shall be reinstated in full force and effect.

          (2) It is the intention of Parent and the Company that the obligations
          of Parent hereunder shall be, but not in excess of, the maximum amount
          permitted by applicable law. Accordingly, if the obligations in
          respect of the Guarantee would be annulled, avoided or subordinated to
          the creditors of Parent by a court of competent jurisdiction in a
          proceeding actually pending before such court as a result of a
          determination both that such Guarantee was made without fair
          consideration and, immediately after giving effect thereto, Parent was
          insolvent or unable to pay its debts as they mature or left with an
          unreasonably small capital, then the obligations of Parent under the
          Guarantee shall be reduced by such court if such reduction would
          result in the avoidance of such annulment, avoidance or subordination;
          provided, however, that any reduction pursuant to this paragraph shall
          be made in the smallest amount as is strictly necessary to reach such
          result. For purposes of this paragraph, "fair consideration,"
          "insolvency," "unable to pay its debts as they mature," "unreasonably
          small capital" and the effective times of reductions, if any, required
          by this paragraph shall be determined in accordance with applicable
          law.

          (3) Parent shall be subrogated to all rights of the Holders against
          the Company in respect of any amounts paid by Parent pursuant to the
          provisions of the Guarantee or this Indenture; provided, however, that
          Parent shall not be entitled to enforce or exercise any right that it
          may acquire by way of subrogation as a result of payment under this
          Guarantee, if at the time of any such payment, any amounts are due and
          unpaid under this Guarantee.

                                                         Amendments to Indenture

                                      -9-

<PAGE>

     Section 1402. Payment. the obligation of Parent to make any payment
hereunder may be satisfied by causing the Company to make such payment.

     Section 1403 Release of Parent. Parent shall be released from all of its
obligations under the Guarantee and under this Indenture if:

          (1) the Company or Parent has transferred all or substantially all of
          its properties and assets to any Person (whether by sale, merger or
          consolidation or otherwise), or has merged into or consolidated with
          another Person, pursuant to a transaction in compliance with this
          Indenture and:

               (A)  the corporation to whom all or substantially all of the
                    properties and assets of the Company or Parent are
                    transferred, or whom the Company or Parent has merged into
                    or consolidated with, has expressly assumed, by an indenture
                    supplemental hereto, executed and delivered to the Trustee,
                    in form satisfactory to the Trustee, all the obligations of
                    Parent under the Guarantee and this Indenture;

               (B)  immediately before and immediately after giving effect to
                    such transaction, no Event of Default, and no event or
                    condition which, after notice or lapse of time or both,
                    would become an Event of Default, shall have occurred and be
                    continuing; and

               (C)  Parent has delivered to the Trustee a Parent Officers'
                    Certificate and an Opinion of Counsel, each stating that
                    such consolidation, merger or transfer and such supplemental
                    indenture comply with this Section 1403 and that all
                    conditions precedent herein provided for relating to such
                    transaction have been complied with;

          (2) Parent liquidates (other than pursuant to any Bankruptcy Law) and
          complies, if applicable, with the provisions of this Indenture;
          provided that if a Person and its Affiliates, if any, shall acquire
          all or substantially all of the assets of Parent upon such
          liquidation, Parent shall liquidate only if:

               (A)  the Person and each such Affiliate (or the common corporate
                    parent of such Person and its Affiliates, if such Person and
                    its Affiliates are wholly owned by such parent) which
                    acquire or will acquire all or a portion of the assets of
                    Parent shall expressly assume, by an indenture supplemental
                    hereto, executed and delivered to the Trustee, in form
                    satisfactory to the Trustee, all the obligations of Parent,
                    under the Guarantee and this Indenture and such Person or
                    any of such Affiliates (or such parent) shall be a
                    corporation organized and existing under the laws of the
                    United States or any State thereof or the District of
                    Columbia;

               (B)  immediately after giving effect to such transaction, no
                    Event of Default, and no event or condition which, after
                    notice or lapse of

                                                         Amendments to Indenture

                                      -10-

<PAGE>

                    time or both, would become an Event of Default, shall have
                    occurred and be continuing; and

               (C)  Parent has delivered to the Trustee a Parent Officers'
                    Certificate and an Opinion of Counsel, each stating that
                    such liquidation and such supplemental indenture comply with
                    this Section 1403 and that all conditions precedent herein
                    provided for relating to such transaction have been complied
                    with; or

          (3) the Company ceases for any reason to be a "wholly owned
          subsidiary" of Parent (as such term is defined in Rule 1-02(aa) of the
          Regulation S-X promulgated by the SEC).

     Upon any assumption of the Guarantee by any Person pursuant to this Section
1403, such Person may exercise every right and power of Parent under this
Indenture with the same effect as if such successor corporation had been named
as Parent herein, and all the obligations of Parent, hereunder and under the
Guarantee shall terminate.

     Section 1404 When Parent May Merge, Etc. Parent shall not consolidate with
or merge with or into any other Person or, directly or indirectly, sell, lease
or convey all or substantially all of its assets (computed on a consolidated
basis) to another Person, and may not permit any Person to, directly or
indirectly, sell, lease or convey all or substantially all of its assets to
Parent, whether in a single transaction or a series of related transactions,
unless:

          (1) either Parent shall be the continuing person, or the Person (if
          other than Parent) formed by such consolidation or into or with which
          Parent is merged or to which the assets of Parent are transferred
          shall be a corporation organized and validly existing under the laws
          of the United States or any State thereof or the District of Columbia
          and shall expressly assume, by an indenture supplemental hereto,
          executed and delivered to the Trustee, in form satisfactory to the
          Trustee, all the obligations of Parent under the Guarantee and this
          Indenture;

          (2) immediately after giving effect to such transaction, no Event of
          Default, and no event or condition which, after notice or lapse of
          time or both, would become an Event of Default, shall have occurred
          and be continuing; and

          (3) Parent has delivered to the Trustee a Parent Officers' Certificate
          and an Opinion of Counsel, each stating that such consolidation,
          merger, sale, conveyance or lease and such supplemental indenture
          comply with this Section 1404 and that all conditions precedent herein
          provided for relating to such transaction have been complied with.

     Upon any consolidation or merger, or any sale, conveyance or lease of all
or substantially all of the assets of Parent, in accordance with this Section
1404, the successor corporation formed by such consolidation or into or with
which Parent is merged or to which such transfer is made shall succeed to, and
be substituted for, and may exercise every right and power of, Parent under this
Indenture with the same effect as if such successor corporation had been named
as

                                                         Amendments to Indenture

                                      -11-

<PAGE>

Parent herein, and all the obligations of the predecessor Parent hereunder and
under the Guarantee and the Indenture shall terminate."

                                                         Amendments to Indenture

                                      -12-

<PAGE>

SECTION 3. AMENDMENTS TO THE SECOND SUPPLEMENTAL INDENTURE.

From and after the Effective Time, Providian, Washington Mutual, WM Sub and the
Trustee hereby agree to the following modifications and additions to the Second
Supplemental Indenture (all Section references in this Section 3 are deemed to
refer to the applicable sections in the Second Supplemental Indenture, unless
otherwise specifically indicated).

     (a) Section 1.02 is amended and restated as follows:

          "Form of Notes. The definitive form of the Notes originally issued
          under this Supplemental Indenture is set forth in Exhibit A attached
          hereto, which is incorporated herein and made part hereof. The terms
          of this Supplemental Indenture, as amended, shall be deemed to amend
          the terms set forth in such definitive form of Notes. The Stated
          Maturity of the principal amount at maturity of the Notes or, in the
          event of conversion of the Notes to semiannual coupon Notes, the
          Restated Principal Amount, shall be February 15, 2021."

     (b) Section 1.10 is amended to include the following definitions:

          "COMPANY" means New American Capital, Inc., and, subject to the
          provisions of Section 801 of the Indenture, shall include its
          successors and assigns.

          "PARENT SUBSIDIARY" means a corporation more than 50% of the
          outstanding voting stock of which is owned, directly or indirectly, by
          Parent or by one or more other Parent Subsidiaries, or by Parent and
          one or more other Parent Subsidiaries.

     (c) The following definitions in Section 1.10 are amended and restated in
their entirety to read as follows:

          "ACCRETED CONVERSION PRICE" as of any day means, per $1,000 principal
          amount at maturity, the sum of the Issue Price plus accrued Original
          Issue Discount to the date of determination, minus the Cash Portion of
          the Conversion Rate, with such result divided by the Stock Portion of
          the Conversion Rate. If the Notes have been converted to semiannual
          coupon Notes following a Tax Event, then Accreted Conversion Price
          shall mean the sum of the Issue Price plus such Original Issue
          Discount as would have accrued to the date of determination if the
          Notes had not been converted to semiannual coupon Notes, minus the
          Cash Portion of the Conversion Rate, with such result divided by the
          Stock Portion of the Conversion Rate.

          "COMMON STOCK" means the Common Stock of Parent, no par value per
          share.

     (d) The first sentence of Section 2.01 is amended and restated in its
entirety as follows:

          "Subject to and upon compliance with the provisions of this Article 2,
          at the option of the Holder thereof, any Note or any portion of the
          principal amount at maturity thereof which is $1,000 or an integral
          multiple $1,000, and which has not

                                     Amendments to Second Supplemental Indenture

                                      -13-

<PAGE>

          previously been redeemed pursuant to Article 4 hereof or purchased
          pursuant to Article 5 hereof, may be converted into fully paid and
          nonassessable shares of Common Stock and cash at any time following
          the issuance of the Notes and prior to the close of business on
          February 15, 2021."

     (e) Section 2.01(a) is amended and restated in its entirety as follows:

          "Except as provided for in Section 2.01(b) below, if the Sale Price on
          at least 20 Trading Days of the 30 Trading Days prior to the
          conversion is (i) less than 100% of the Accreted Conversion Price,
          then the Holder electing to exercise its conversion right on that date
          will receive, in lieu of the Default Conversion Consideration (as
          defined below), cash in an amount, per $1,000 principal amount at
          maturity of the Notes surrendered for conversion, equal to (A) 95% of
          the product of the Stock Portion of the Conversion Rate and such Sale
          Price on the Trading Day immediately preceding the conversion date
          plus (B) the Cash Portion, (ii) greater than or equal to 100% of the
          Accreted Conversion Price but less than 110% of the Accreted
          Conversion Price, the Holder will receive, in lieu of the Default
          Conversion Consideration, cash in an amount, per $1,000 principal
          amount at maturity of the Notes surrendered for conversion, equal to
          the sum of the Issue Price of the Notes plus accrued Original Issue
          Discount to the date of conversion, or (iii) greater than or equal to
          110% of the Accreted Conversion Price, the Holder will receive, per
          $1,000 principal amount at maturity of the Notes surrendered for
          conversion, a number of shares of Common Stock equal to the Stock
          Portion of the Conversion Rate and cash in the amount of the Cash
          Portion of the Conversion Rate (the "DEFAULT CONVERSION
          CONSIDERATION"). For the purposes of this Section 2.01(a), the Sale
          Price during the 30 Trading Days prior to the conversion shall be
          appropriately adjusted in a manner determined by the Board of
          Directors (which shall be conclusive) to take into account the
          occurrence of any event described in Section 2.05(a), (b) or (c),
          subject to the conditions set forth in Sections 2.05(d) and (e)."

     (f) Section 2.01(b)(i) is amended and restated as follows:

          "if the Notes being surrendered for conversion have been previously
          called for redemption but not yet redeemed by the Company pursuant to
          Section 4.01 hereof, then the Holder will receive, per $1,000
          principal amount at maturity of the Notes surrendered for conversion,
          the Default Conversion Consideration."

     (g) Section 2.01(b)(ii) is amended by replacing, in the first sentence
thereof, the word "Company" with "Company or Parent" and by replacing the term
"Company's Common Stock" with the term "Common Stock".

     (h) Section 2.01(b)(ii)(A) is amended and restated as follows:

          "(A) during the period beginning 15 days prior to the anticipated
          effective date of such transaction and ending immediately prior to the
          effective time of such

                                     Amendments to Second Supplemental Indenture

                                      -14-

<PAGE>

          transaction, a Holder will receive, per $1,000 principal amount at
          maturity of the Notes surrendered for conversion, the Default
          Conversion Consideration."

     (i) The second sentence of Section 2.01(b)(iii) is amended and restated as
follows:

          "In such instance, a Holder will receive, per $1,000 principal amount
          at maturity of any Notes surrendered for conversion, (A) a number of
          shares of Common Stock equal to the Stock Portion of the Conversion
          Rate and (B) a number of shares of Common Stock equal to the Cash
          Portion of the Conversion Rate divided by the Sale Price on the
          Trading Day immediately preceding the conversion date."

     (j) Section 2.01(b)(iv) is amended and restated as follows:

          "for calculation purposes as required by certain provisions of this
          Second Supplemental Indenture, the number of shares of Common Stock,
          cash or other value a Holder would have received if such Holder had
          converted the Notes as of that date, per $1,000 principal amount at
          maturity of such Holder's Notes being considered, shall be equal to
          the Stock Portion and the Cash Portion of the Conversion Rate
          applicable on such date."

     (k) The last sentence of Section 2.01(b) is amended and restated as
follows:

          "If the Company calls a Note for redemption, a Holder may convert a
          Note into the Default Conversion Consideration only until the close of
          business on the redemption date, unless the Company defaults on
          payment of the Redemption Price."

     (l) Section 2.02 is amended and restated as follows:

          "Conversion Rate. Shares of Common Stock and cash shall be delivered
          upon conversion at a rate of (i) 2.4927 shares of Common Stock (the
          "Stock Portion") and (ii) $12.4483 in cash (the "Cash Portion") for
          each $1,000 principal amount at maturity of Notes converted (the
          "Conversion Rate"). The Conversion Rate shall be adjusted in certain
          instances as provided in Section 2.05 hereof. However, the Conversion
          Rate will not be adjusted for accrued Original Issue Discount. All
          calculations under this Article 2 shall be made to the nearest cent or
          the nearest 1/100th of a share, as the case may be."

     (m) Section 2.03 is amended by replacing, in the first sentence, the
address "14 Wall Street, 8th Floor, New York, New York 10005, Attn: Corporate
Trust Administration," with "JP Morgan Trust Company, N.A., Institutional Trust
Services, P.O. Box 2320, Dallas, TX 75221-2320, if delivered by mail, or JP
Morgan Chase Bank, Institutional Trust Securities Window, 4 New York Plaza - 1st
Floor, New York, NY 10004-2413, if delivered by hand," and by amending and
restating the last sentence of such section as follows:

          "As promptly as practicable on or after the conversion date, the
          Company or Parent shall deliver to the Trustee at its Corporate Trust
          Office a certificate or

                                     Amendments to Second Supplemental Indenture

                                      -15-

<PAGE>

          certificates for the number of full shares of Common Stock issuable
          upon conversion, together with payment in lieu of an fraction of a
          share thereof, as provided in Section 2.04 hereof, and cash in the
          amount payable upon conversion, and the Trustee shall forward such
          certificate or certificates and such payment to the addresses set
          forth in the written notices sent to the Company by the Holders
          electing to convert their Notes."

     (n) Section 2.05 is amended by replacing, in the third paragraph, the term
"Board of Directors" with the term "Parent Board of Directors".

     (o) Section 2.05(a) is amended by replacing the term "the Company" with
"Parent" in every instance in which it appears therein and by replacing the term
"Conversion Rate" with "Stock Portion of the Conversion Rate" in every instance
in which it appears therein.

     (p) Sections 2.05(b) and 2.05(c) are amended by replacing the term "the
Company" with "Parent" and the term "Board of Directors" with "Parent Board of
Directors" in every instance in which either appears therein and by replacing
the term "Conversion Rate" with "Stock Portion of the Conversion Rate" in every
instance in which it appears therein.

     (q) Section 2.05(d) is amended by replacing the term "Conversion Rate" with
"Stock Portion of the Conversion Rate" where it appears therein.

     (r) Section 2.05(e) is amended by replacing the term "the Board of
Directors" with "Parent Board of Directors" and by replacing, in the last
sentence of the first paragraph, the term "a Company plan" with the term "a
Parent plan".

     (s) Section 2.05(f) is amended by replacing the term "Conversion Rate" with
"Stock Portion of the Conversion Rate" where it appears therein.

     (t) Section 2.05(g) is amended by replacing the term "Conversion Rate" with
"Stock Portion or Cash Portion of the Conversion Rate" in each instance in which
it appears therein.

     (u) Section 2.06 is amended by replacing the term "the Company" with "the
Company or Parent" and the term "the Company's" with "the Company's or Parent's"
in every instance which either appears therein.

     (v) Section 2.07 is amended and restated as follows:

          "Notice of Certain Corporate Action. In case: (a) Parent shall declare
          a dividend or make any other distribution that would require any
          adjustment pursuant to Section 2.05 hereof; or (b) Parent shall
          authorize the granting to the holders of its Common Stock of rights or
          warrants to subscribe for or purchase any shares of capital stock of
          any class or of any other rights; or (c) of any reclassification of
          the Common Stock, or of any consolidation or merger to which the
          Company or Parent is a party and for which approval of any
          stockholders of Parent is required, or a consolidation, merger or
          share exchange described in Section 2.01(b)(ii), then the Company and
          Parent shall cause to be filed at each office or agency maintained for
          the purpose of conversion of Securities pursuant to Section 2.03

                                     Amendments to Second Supplemental Indenture

                                      -16-

<PAGE>

          hereof, and shall cause to be mailed to all Holders at their last
          addresses as they shall appear in the register for the Securities, at
          least 20 days prior to the applicable record or effective date
          hereinafter specified, a notice (which notice shall also be sent by
          release to Reuters Economic Services and Bloomberg Business News)
          stating (x) the date on which a record is to be taken for the purpose
          of such dividend, distribution, rights or warrants, or, if a record is
          not to be taken, the date as of which the holders of Common Stock of
          record to be entitled to such dividend, distribution, rights or
          warrants are to be determined, or (y) the date on which such
          reclassification, consolidation, merger or share exchange is expected
          to become effective, and the date as of which it is expected that
          holders of Common Stock of record shall be entitled to exchange their
          shares of Common Stock for securities, cash or other property
          deliverable upon such reclassification, consolidation, merger or share
          exchange. Neither the failure to give such notice nor any defect
          therein shall affect the legality or validity of the proceedings
          described in clauses (a) through (c) of this Section 2.07. If at the
          time the Trustee shall not be the conversion agent, a copy of such
          notice shall also forthwith be filed by the Company with the Trustee.
          The Company shall cause to be filed at the Corporate Trust Office and
          each office or agency maintained for the purpose of conversion of
          Notes pursuant to Section 305 of the Indenture, and shall cause to be
          provided to all Holders in accordance with Section 106 of the
          Indenture, notice of any tender offer by Parent or any Parent
          Subsidiary for all or any portion of the Common Stock at or about the
          time that such notice of tender offer is provided to the public
          generally."

     (w) Section 2.08 is amended by replacing the terms "Company" and "The
Company" with "Parent" in each instance where either such term appears.

     (x) Section 2.10 is amended by replacing the terms "The Company" and "the
Company" with "Parent" in every instance in which they appear.

     (y) Section 5.01(f) is amended and restated as follows:

          "The Company may, at the Company's option, elect to pay all or a
          portion of the Purchase Price of the Notes in shares of Common Stock.
          The number of shares of Common Stock to be delivered by Parent in the
          event of such election shall equal the quotient obtained by dividing
          (i) the amount of cash to which the Holders would have been entitled
          had the Company elected to pay all or such specified percentage, as
          the case may be, of the Purchase Price of such Notes in cash by (ii)
          the Market Price of a share of Common Stock, subject to the next
          succeeding paragraph.

          Parent will not issue a fractional share of Common Stock in payment of
          the Purchase Price. Instead the Company will pay cash in lieu of
          fractional shares in an amount equal to the same fraction of the
          Market Price per share of Common Stock. It is understood that if a
          Holder elects to have more than one Note purchased, the number of
          shares of Common Stock shall be based on the aggregate amount of Notes
          to be purchased."

                                     Amendments to Second Supplemental Indenture

                                      -17-

<PAGE>

     (z) Section 5.01(g) is amended and restated as follows:

          "Upon determination of the actual number of shares of Common Stock to
          be issued for each $1,000 principal amount at maturity of Notes
          pursuant to this Section 5.01, the Company or Parent will publish such
          information on Parent's web site on the World Wide Web or through such
          other public medium as the Company or Parent may use at such time."

     (aa) Section 5.01(h)(v) is amended and restated as follows:

          "the receipt by the Trustee of an Officers' Certificate, a Parent
          Officers' Certificate and an Opinion of Counsel each stating that (A)
          the terms of the issuance of the Common Stock are in conformity with
          this Indenture and (B) the Common Stock to be issued by Parent in
          payment of the Purchase Price in respect of Notes has been duly
          authorized and, when issued and delivered pursuant to the terms of
          this Indenture in payment of the Purchase Price in respect of the
          Notes, will be validly issued, fully paid and non-assessable and, to
          the best of such counsel's knowledge, free from preemptive rights,
          and, in the case of the Parent Officers' Certificate, stating that the
          condition (i) above and the condition set forth in the second
          succeeding sentence have been satisfied and, in the case of the
          Officers' Certificate, stating that the condition (ii) above has been
          satisfied, and, in the case of the Opinion of Counsel, stating that
          the conditions (iii) and (iv) above have been satisfied."

     (bb) The second to last paragraph of Section 5.01(h) is amended by
replacing the term "Such Officers' Certificate" with "Such Parent Officers'
Certificate and Officers' Certificate".

     (cc) Section 5.01(i) is amended by replacing the term "The Company" with
"The Company and Parent".

     (dd) Section 5.01(j) is amended by replacing the first three words of such
section ("The Company shall") with "The Company or Parent, as applicable,
shall".

     (ee) Section 5.02(f) is amended by replacing the term "The Company" with
"The Company and Parent".

     (ff) Sections 5.03(a)(i)-(iv) are amended and restated as follows:

          "(i) any "person" or "group" (as such terms are used in Sections 13(d)
          and 14(d) of the Exchange Act), other than, in the case of the
          Company, Parent, is or becomes the "beneficial owner" (as defined in
          Rules 13d-3 and 13d-5 under the Exchange Act, except that a person or
          group shall be deemed to have "beneficial ownership" of all securities
          that such person or group has the right to acquire, whether such right
          is exercisable immediately or only after the passage of time, upon the
          happening of an event or otherwise), directly or indirectly, of more
          than 50% of the total voting power of all Voting Stock of the Company
          or Parent;

                                     Amendments to Second Supplemental Indenture

                                      -18-

<PAGE>

          (ii) the Company or Parent consolidates with, or merges with or into,
          another person or sells, assigns, conveys, transfers, leases or
          otherwise disposes of, all or substantially all of its assets to any
          Person, or any Person consolidates with, or merges with or into, the
          Company or Parent, in any such event pursuant to a transaction in
          which the outstanding Voting Stock of the Company or Parent is
          converted into or exchanged for cash, securities or other property,
          other than any such transaction where (A) the outstanding Voting Stock
          of the Company or Parent is converted into or exchanged for Voting
          Stock (other than Disqualified Capital Stock) of the surviving or
          transferee corporation, and (B) immediately after such transaction no
          "person" or "group" (as such terms are used in Sections 13(d) and
          14(d) of the Exchange Act), is the "beneficial owner" (as defined in
          Rules 13d-3 and 13d-5 under the Exchange Act, except that a person or
          group shall be deemed to have "beneficial ownership" of all securities
          that such person or group has the right to acquire, whether such right
          is exercisable immediately or only after the passage of time, upon the
          happening of an event or otherwise), directly or indirectly, of more
          than 50% of the total voting power of all Voting Stock of the
          surviving or transferee corporation;

          (iii) at any time during any consecutive two-year period, individuals
          who at the beginning of such period constituted the Board of Directors
          or Parent Board of Directors (together with any new directors whose
          election by such board of directors or whose nomination for election
          by the stockholders of the Company or Parent, as applicable, was
          approved by a vote of a majority of the directors then still in office
          who were either directors at the beginning of such period or whose
          election or nomination for election was previously so approved) cease
          for any reason to constitute a majority of the Board of Directors or
          Parent Board of Directors then in office; or

          (iv) the Company or Parent is liquidated or dissolved or adopts a plan
          of liquidation;"

     (gg) Section 6.01(c) is amended by replacing the term "The Company" with
"The Company or Parent".

                                     Amendments to Second Supplemental Indenture

                                      -19-

<PAGE>

SECTION 4. AMENDMENTS TO THE THIRD SUPPLEMENTAL INDENTURE.

From and after the Effective Time, Providian, Washington Mutual, WM Sub and the
Trustee hereby agree to the following modifications and additions to the Third
Supplemental Indenture (all Section references in this Section 4 are deemed to
refer to the applicable sections in the Third Supplemental Indenture, unless
otherwise specifically indicated).

     (a)  Section 1.02 is amended and restated as follows:

          "Form of Notes. The definitive form of the Notes originally issued
          under this Supplemental Indenture is set forth in Exhibit A attached
          hereto, which is incorporated herein and made part hereof. The terms
          of this Supplemental Indenture, as amended, shall be deemed to amend
          the terms set forth in such definitive form of Notes. The Stated
          Maturity of the principal amount at maturity of the Notes shall be May
          15, 2008."

     (b)  Section 1.11 is amended to include the following definitions:

          "MERGER EFFECTIVE TIME" means the time at which the Merger became
          effective in accordance with the Delaware General Corporation Law.

          "MERGER" means the merger of Providian Financial Corporation with and
          into New American Capital, Inc., pursuant to that certain merger
          agreement, dated as of June 5, 2005, among Providian Financial
          Corporation, New American Capital, Inc. and Washington Mutual, Inc.,
          as amended or supplemented from time to time.

          "PARENT SUBSIDIARY" means a corporation more than 50% of the
          outstanding voting stock of which is owned, directly or indirectly, by
          Parent or by one or more other Parent Subsidiaries, or by Parent and
          one or more other Parent Subsidiaries.

     (c) The following definitions in Section 1.11 are amended and restated in
their entirety to read as follows:

          "COMMON STOCK" means any stock of any class of Parent which has no
          preference in respect of dividends or of amounts payable in the event
          of any voluntary or involuntary liquidation, dissolution or winding up
          of Parent and which is not subject to redemption by Parent. Subject to
          the provisions of Section 2.06, however, shares issuable on conversion
          of Notes shall include only shares of the class designated as common
          stock of Parent at the Merger Effective Time (namely, the Common
          Stock, no par value) or shares of any class or classes resulting from
          any reclassification or reclassifications thereof and which have no
          preference in respect of dividends or of amounts payable in the event
          of any voluntary or involuntary liquidation, dissolution or winding up
          of Parent and which are not subject to redemption by Parent; provided
          that if at any time there shall be more than one such resulting class,
          the shares of each such class then so issuable on conversion shall be
          substantially in the proportion which the total number of shares of
          such class resulting from all such reclassifications bears to

                                      Amendments to Third Supplemental Indenture

                                      -20-

<PAGE>

          the total number of shares of all such classes resulting from all such
          reclassifications.

          "COMPANY" means New American Capital, Inc., and, subject to the
          provisions of Section 801 of the Indenture and Section 2.06, shall
          include its successors and assigns.

          "CONVERSION PRICE" as of any day means the amount equal to $1,000,
          minus the Cash Portion of the Conversion Rate, with the result thereof
          divided by the Stock Portion of the Conversion Rate.

          "TRADING PRICE" means, on any date, the average of the secondary
          market bid quotations for the Notes obtained by the Trustee for
          $10,000,000 principal amount of Notes at approximately 3:30 p.m., New
          York City time, on such date from three independent nationally
          recognized securities dealers selected by the Company; provided that
          if at least three such bids cannot reasonably be obtained by the
          Trustee, but two bids are obtained, then the average of the two bids
          shall be used, and if only one such bid can reasonably be obtained by
          the Trustee, one bid shall be used; and provided further that if the
          Trustee cannot reasonably obtain at least one bid for $10,000,000
          principal amount of Notes from a nationally recognized securities
          dealer, then the Trading Price per $1,000 principal amount of Notes
          shall be deemed to be less than 98% of the sum of (1) the product of
          the Closing Price of the Common Stock and the Stock Portion of the
          Conversion Rate plus (2) the Cash Portion of the Conversion Rate.

     (d) The first sentence of Section 2.01(a) is amended and restated in its
entirety to read as follows:

          "Subject to and upon compliance with the provisions of this Indenture,
          before the close of business on May 15, 2008, the Holder of any Note
          shall have the right, at such Holder's option, to convert the
          principal amount of the Note, or any portion of such principal amount
          which is a multiple of $1,000, into fully paid and non-assessable
          shares of Common Stock (as such shares shall then be constituted) and
          cash equal to the Stock Portion and the Cash Portion, respectively, of
          the Conversion Rate in effect at such time (the "Default Conversion
          Consideration"), by surrender of the Note so to be converted in whole
          or in part, together with any required funds, under the circumstances
          described in this Section 2.01 and in the manner described in Section
          2.02."

     (e) Section 2.01(a)(iii) is amended and restated in its entirety to read as
follows:

          "during the five Business Day period after any five consecutive
          Trading Day period in which the Trading Price per $1,000 principal
          amount of Notes for each day of such five Trading Day period was less
          than 98% of the sum of (1) the product of the Closing Price of the
          Common Stock and the Stock Portion of the Conversion Rate plus (2) the
          Cash Portion of the Conversion Rate; provided that if on the date of
          any conversion pursuant to this clause (iii) the Closing Price of

                                      Amendments to Third Supplemental Indenture

                                      -21-

<PAGE>

          the Common Stock is greater than the Conversion Price, a Holder shall
          receive, in lieu of the Default Conversion Consideration, cash or
          Common Stock or a combination of cash or Common Stock, at the
          Company's option, with a value equal to the principal amount of the
          Holders' Notes plus accrued and unpaid interest, including contingent
          interest, if any, as of the conversion date (a "Principal Value
          Conversion");

     (f) The second to last paragraph of Section 2.01(a) is amended by replacing
the term "Company's web site" with "Parent's web site".

     (g) The last paragraph of Section 2.01(a) is amended and restated in its
entirety to read as follows:

          "The Trustee (or other conversion agent appointed by the Company)
          shall have no obligation to determine the Trading Price of the Notes
          under this Section 2.01 unless the Company has requested such a
          determination; and the Company shall have no obligation to make such
          request unless a Holder provides it, on or prior to 12:00 noon (New
          York City time) on any Trading Day, with reasonable evidence that the
          Trading Price per $1,000 principal amount of Notes would be less than
          98% of the sum of (1) the product of the Closing Price of the Common
          Stock and the Stock Portion of the Conversion Rate plus (2) the Cash
          Portion of the Conversion Rate. If such evidence is provided, the
          Company shall instruct the Trustee (or other conversion agent) to
          determine the Trading Price of the Notes beginning on the next Trading
          Day and on each successive Trading Day until the Trading Price per
          $1,000 principal amount of Notes is greater than or equal to 98% of
          the sum of (1) the product of the Closing Price of the Common Stock
          and the Stock Portion of the Conversion Rate plus (2) the Cash Portion
          of the Conversion Rate.

     (h) Section 2.01(b) is amended and restated in its entirety to read as
follows:

          "In addition, if:

          (i) (A) Parent distributes to all holders of its Common Stock rights
          or warrants entitling them (for a period expiring within 45 days of
          the record date for the determination of the stockholders entitled to
          receive such distribution) to subscribe for or purchase shares of
          Common Stock, at a price per share less than the average of the
          Closing Price of the Common Stock for the ten Trading Days immediately
          preceding, but not including, the date such distribution is first
          publicly announced by Parent, or (B) Parent distributes to all holders
          of its Common Stock, cash or other assets, debt securities or rights
          to purchase its securities, where the Fair Market Value of such
          distribution per share of Common Stock exceeds 5% of the Closing Price
          of the Common Stock on the Trading Day immediately preceding the date
          such distribution is first publicly announced by Parent, then, in
          either case, the Notes may be surrendered for conversion at any time
          on and after the date that the Company gives notice to the Holders of
          such distribution, which shall be not less than 20 days prior to the
          commencement of ex-dividend trading for such distribution, until the
          earlier of the close of business on the Business Day immediately
          preceding, but not including, the commencement of

                                      Amendments to Third Supplemental Indenture

                                      -22-

<PAGE>

          ex-dividend trading or the date Parent publicly announces that such
          distribution will not take place; provided that no adjustment to the
          Conversion Rate or the ability of a Holder of a Note to convert will
          be made if the Holder will otherwise participate in such distribution
          without conversion; or

          (ii) the Company or Parent consolidates with or merges with or into
          another Person or is a party to a binding share exchange or conveys,
          transfers, sells, leases or otherwise disposes of all or substantially
          all of its properties and assets, then the Notes may be surrendered
          for conversion at any time from and after the date 15 days prior to
          the anticipated effective date of the transaction and ending on and
          including the date 15 days after the consummation of the transaction.
          The Board of Directors or Parent Board of Directors, as applicable,
          shall determine the anticipated effective date of the transaction, and
          such determination shall be conclusive and binding on the Holders and
          shall be publicly announced by the Company and posted on the Parent's
          web site not later than two Business Days prior to such 15th day prior
          to the effective date of the transaction."

     (i) The last sentence of Section 2.02(c) is amended and restated as
follows:

          "If the Company elects to deliver Common Stock to pay any portion of
          such principal amount plus accrued and unpaid interest, Company or
          Parent will deliver such Common Stock on the fourth Trading Day
          following the conversion date."

     (j) Section 2.02(d) is amended and restated as follows:

          "As promptly as practicable after satisfaction of the requirements for
          conversion set forth above, subject to compliance with any
          restrictions on transfer if shares issuable on conversion are to be
          issued in a name other than that of the Holder (as if such transfer
          were a transfer of the Note or Notes (or portion thereof) so
          converted), Company or Parent shall deliver to such Holder at the
          office or agency maintained by the Company for such purpose pursuant
          to Section 1002 of the Indenture, a certificate or certificates for
          the number of full shares of Common Stock issuable upon the conversion
          of such Note or portion thereof as determined by the Company in
          accordance with the provisions of this Article 2 and the Company will
          deliver a check or cash in respect of, if applicable, the Cash Portion
          deliverable upon the conversion and any fractional interest in respect
          of a share of Common Stock arising upon such conversion, calculated by
          the Company as provided in Section 2.03. In case any Note of a
          denomination greater than $1,000 shall be surrendered for partial
          conversion, subject to Section 2.03, the Company shall execute and the
          Trustee shall authenticate and deliver to the Holder of the Note so
          surrendered, without charge to him, a new Note or Notes in authorized
          denominations in an aggregate principal amount equal to the
          unconverted portion of the surrendered Note."

                                      Amendments to Third Supplemental Indenture

                                      -23-

<PAGE>

     (k) Section 2.02(e) is amended by replacing the words "the Company" as they
appear therein with the word "Parent".

     (l) Section 2.02(g) is amended and restated as follows:

          "Upon the conversion of a Note, that portion of the accrued but unpaid
          interest, including accrued contingent interest, if any, with respect
          to the converted Note shall not be cancelled, extinguished or
          forfeited, but rather shall be deemed to be paid in full to the Holder
          thereof through delivery of the Common Stock and cash and the payment
          of contingent interest, if any, together with any cash payment in lieu
          of fractional shares, in exchange for the Note being converted
          pursuant to the provisions hereof; and the Fair Market Value of such
          shares of Common Stock and cash and the payment of contingent
          interest, if any, together with any such cash payment in lieu of
          fractional shares, shall be treated as delivered, to the extent
          thereof, first in exchange for and in satisfaction of our obligation
          to pay the principal amount of the converted Note, the accrued but
          unpaid interest thereon, if any, and the contingent interest thereon,
          if any, and the balance, if any, of such Fair Market Value of such
          Common Stock (and any such cash payments) shall be treated as issued
          in exchange for and in satisfaction of the right to convert the Note
          being converted pursuant to the provisions hereof."

     (m) The second to last sentence of Section 2.03 is amended and restated as
follows:

          "If any fractional share of stock would be issuable upon the
          conversion of any Note or Notes, Parent shall not issue such
          fractional share and the Company shall make an adjustment and payment
          will be made therefor by the Company in cash at the current market
          price thereof to the Holder of Notes."

     (n) Section 2.04 is amended and restated in its entirety as follows:

          "Conversion Rate. Shares of Common Stock and cash shall be delivered
          upon conversion at a rate of (i) 30.7888 shares of Common Stock (the
          "Stock Portion") and (ii) $153.7553 in cash (the "Cash Portion") for
          each $1,000 principal amount of Notes converted (the "Conversion
          Rate"), subject to adjustment as provided in this Article 2.

     (o) Section 2.05(a) is amended by replacing the term "the Company" with the
word "Parent" in each instance where such term appears, by replacing the term
"the Company's" with "Parent's" in each instance where such term appears, and by
replacing the term "Conversion Rate" with the term "Stock Portion of the
Conversion Rate" in each instance where such term appears.

     (p) Section 2.05(b) is amended by replacing the term "the Company" with the
word "Parent" in each instance where such term appears, replacing the term "the
Company's" with "Parent's" in each instance where such term appears, by
replacing the term "Conversion Rate" with the term "Stock Portion of the
Conversion Rate" in each instance where such term appears and by replacing the
term "Board of Directors" with the term "Parent Board of Directors" in the last
sentence of Section 2.05(b).

                                      Amendments to Third Supplemental Indenture

                                      -24-

<PAGE>

     (q) Section 2.05(c) is amended by replacing the term "Conversion Rate" with
the term "Stock Portion of the Conversion Rate" in each instance where such term
appears.

     (r) Section 2.05(d) is amended by replacing the term "the Company" with
"Parent" in every instance in which it appears, by replacing the term
"Subsidiary" appearing in the first sentence of the section with the term
"Parent Subsidiary", by replacing the terms "Company's Board of Directors" and
"Board of Directors" with the term "Parent Board of Directors" in every instance
in which they appear, by replacing the term "Conversion Rate" with the term
"Stock Portion of the Conversion Rate" in each instance where such term appears,
and by replacing the phrase "Rights Agreement, dated as of June 1, 1997, between
the Company and First Chicago Trust Company of New York, as amended by Amendment
No. 1 to Rights Agreement dated February 17, 1999", with the phrase "Rights
Agreement, dated as of December 20, 2000, between Washington Mutual and Mellon
Investor Services L.L.C., as amended and supplemented from time to time".

     (s) Section 2.05(e) is amended by replacing the term "the Company" with
"Parent" in every instance in which it appears and by replacing the term
"Conversion Rate" with the term "Stock Portion of the Conversion Rate" in each
instance where such term appears.

     (t) Section 2.05(f) is amended by replacing the term "the Company" with
"Parent" in every instance in which it appears, by replacing the term
"Subsidiary" appearing in the first sentence of the section with the term
"Parent Subsidiary," by replacing the term "Conversion Rate" with the term
"Stock Portion of the Conversion Rate" in each instance where such term appears
and by replacing the term "Board of Directors" with the term "Parent Board of
Directors" in every instance in which it appears.

     (u) Sections 2.05(g)(i) and (iii) are amended by replacing the term "Board
of Directors" with the term "Parent Board of Directors" in every instance in
which it appears.

     (v) The first paragraph of Section 2.05(h) is amended by replacing the term
"Conversion Rate" with the term "Stock Portion of the Conversion Rate" in each
instance where such term appears.

     (w) The second paragraph of Section 2.05(h) is amended by replacing the
term "Conversion Rate" with the term "Stock Portion or Cash Portion of the
Conversion Rate" in each instance where such term appears.

     (x) Section 2.05(i) is amended by replacing the term "Conversion Rate" with
the term "Stock Portion of the Conversion Rate" in each instance where such term
appears and by replacing the word "Company" and the term "the Company" with
"Parent" in the third and fourth sentences thereof

     (y) Section 2.05(k) is amended by replacing the term "the Company" with
"the Company or Parent, as applicable".

     (z) Section 2.05(l) is amended by replacing the term "the Company" with
"Parent" in every instance in which it appears.

                                      Amendments to Third Supplemental Indenture

                                      -25-

<PAGE>

     (aa) The first paragraph of Section 2.06 is amended and restated as
follows:

          "If any of the following events occur, namely (i) any reclassification
          or change of the outstanding shares of Common Stock (other than a
          subdivision or combination to which Section 2.05(c) applies), (ii) any
          consolidation, merger or combination of the Company or Parent with
          another Person as a result of which holders of Common Stock shall be
          entitled to receive stock, other securities or other property or
          assets (including cash) with respect to or in exchange for such Common
          Stock, or (iii) any sale or conveyance of all or substantially all of
          the properties and assets of the Company or Parent to any other Person
          as a result of which holders of Common Stock shall be entitled to
          receive stock, other securities or other property or assets (including
          cash) with respect to or in exchange for such Common Stock, then the
          Company or Parent or the successor or purchasing Person, as the case
          may be, shall execute with the Trustee a supplemental indenture (which
          shall comply with the Trust Indenture Act as in force at the date of
          execution of such supplemental indenture) providing that each Note
          shall be convertible into the kind and amount of shares of stock,
          other securities or other property or assets (including cash)
          receivable upon such reclassification, change, consolidation, merger,
          combination, sale or conveyance by a holder of a number of shares of
          Common Stock and cash issuable upon conversion of such Notes
          (assuming, for such purposes, a sufficient number of authorized shares
          of Common Stock are available to convert all such Notes) immediately
          prior to such reclassification, change, consolidation, merger,
          combination, sale or conveyance assuming such holder of Common Stock
          did not exercise his rights of election, if any, as to the kind or
          amount of stock, other securities or other property or assets
          (including cash) receivable upon such reclassification, change,
          consolidation, merger, combination, sale or conveyance (provided that,
          if the kind or amount of stock, other securities or other property or
          assets (including cash) receivable upon such reclassification, change,
          consolidation, merger, combination, sale or conveyance is not the same
          for each share of Common Stock in respect of which such rights of
          election shall not have been exercised ("NON-ELECTING SHARE"), then
          for the purposes of this Section 2.06 the kind and amount of stock,
          other securities or other property or assets (including cash)
          receivable upon such reclassification, change, consolidation, merger,
          combination, sale or conveyance for each non-electing share shall be
          deemed to be the kind and amount so receivable per share by a
          plurality of the non-electing shares). Such supplemental indenture
          shall provide for adjustments which shall be as nearly equivalent as
          may be practicable to the adjustments provided for in this Article 2."

     (bb) Section 2.07 is amended and restated as follows:

          "Taxes On Shares Issued. The issue of stock certificates on
          conversions of Notes shall be made without charge to the converting
          Holder for any documentary, stamp or similar issue or transfer tax in
          respect of the issue thereof. Neither the

                                      Amendments to Third Supplemental Indenture

                                      -26-

<PAGE>

          Company nor Parent, however, shall be required to pay any such tax
          which may be payable in respect of any transfer involved in the issue
          and delivery of stock in any name other than that of the Holder of any
          Note converted, and neither the Company nor Parent shall be required
          to issue or deliver any such stock certificate unless and until the
          Person or Persons requesting the issue thereof shall have paid to
          Parent the amount of such tax or shall have established to the
          satisfaction of Parent that such tax has been paid."

     (cc) Section 2.08 is amended by replacing the terms "the Company" and "The
Company" with "Parent" in every instance where either appears.

     (dd) The third and fourth sentences of Section 2.09 are amended and
restated as follows:

          "Neither the Trustee nor any conversion agent shall be responsible for
          any failure of the Company or Parent to issue, transfer or deliver any
          shares of Common Stock or stock certificates or other securities or
          property or cash upon the surrender of any Note for the purpose of
          conversion or to comply with any of the duties, responsibilities or
          covenants of the Company or Parent contained in this Article 2.
          Without limiting the generality of the foregoing, neither the Trustee
          nor any conversion agent shall be under any responsibility to
          determine the correctness of any provisions contained in any
          supplemental indenture entered into pursuant to Section 2.06 relating
          either to the kind or amount of shares of stock or securities or
          property (including cash) receivable by Holders upon the conversion of
          their Notes after any event referred to in such Section 2.06 or to any
          adjustment to be made with respect thereto, but, subject to the
          provisions of Section 601 of the Indenture, may accept as conclusive
          evidence of the correctness of any such provisions, and shall be
          protected in relying upon, the Opinion of Counsel, Officers'
          Certificate and Parent Officers' Certificate (which the Company and
          Parent, as applicable, shall be obligated to file with the Trustee
          prior to the execution of any such supplemental indenture) with
          respect thereto."

     (ee) Section 2.10 is amended and restated as follows:

          "Notice To Holders Prior To Certain Actions. In case:

               (a)  Parent shall declare a dividend (or any other distribution)
                    on its Common Stock that would require an adjustment in the
                    Conversion Rate pursuant to Section 2.05; or

               (b)  Parent shall authorize the granting to the holders of all or
                    substantially all of its Common Stock of rights or warrants
                    to subscribe for or purchase any share of any class or any
                    other rights or warrants; or

               (c)  of any reclassification or reorganization of the Common
                    Stock (other than a subdivision or combination of its
                    outstanding Common Stock, or a change in par value, or from
                    par value to no par value, or from no par value to par
                    value), or of any consolidation or merger to which the
                    Company or Parent is a party and for which approval of any
                    stockholders of Parent is required,

                                      Amendments to Third Supplemental Indenture

                                      -27-

<PAGE>

                    or of the sale or transfer of all or substantially all of
                    the assets of the Company or Parent; or

               (d)  of the voluntary or involuntary dissolution, liquidation or
                    winding up of the Company or Parent;

          the Company and Parent shall cause to be filed with the Trustee and to
          be mailed to each Holder of Notes at its address appearing on the
          Security Register provided for in Section 305 of the Indenture, as
          promptly as possible but in any event at least ten (10) days prior to
          the applicable date hereinafter specified, a notice stating (x) the
          date on which a record is to be taken for the purpose of such
          dividend, distribution or rights or warrants, or, if a record is not
          to be taken, the date as of which the holders of Common Stock of
          record to be entitled to such dividend, distribution or rights are to
          be determined, or (y) the date on which such reclassification,
          consolidation, merger, sale, transfer, dissolution, liquidation or
          winding up is expected to become effective or occur, and the date as
          of which it is expected that holders of Common Stock of record shall
          be entitled to exchange their Common Stock for securities or other
          property deliverable upon such reclassification, consolidation,
          merger, sale, transfer, dissolution, liquidation or winding up.
          Failure to give such notice, or any defect therein, shall not affect
          the legality or validity of such dividend, distribution,
          reclassification, consolidation, merger, sale, transfer, dissolution,
          liquidation or winding up."

     (ff) Section 3.01(e) is amended and restated as follows:

          "In the case of a reclassification, change, consolidation, merger,
          combination, sale or conveyance to which Section 2.06 applies, in
          which the Common Stock of Parent is changed or exchanged as a result
          into the right to receive stock, securities or other property or
          assets (including cash), which includes shares of Common Stock or
          shares of common stock of another Person that are, or upon issuance
          will be, traded on a United States national securities exchange or
          approved for trading on an established automated over-the-counter
          trading market in the United States and such shares constitute at the
          time such change or exchange becomes effective in excess of 50% of the
          aggregate fair market value of such stock, securities or other
          property or assets (including cash) (as determined by Parent, which
          determination shall be conclusive and binding), then the Person formed
          by such consolidation or resulting from such merger or which acquires
          such assets, as the case may be, shall execute and deliver to the
          Trustee a supplemental indenture (accompanied by an Opinion of Counsel
          that such supplemental indenture complies with the Trust Indenture Act
          as in force at the date of execution of such supplemental indenture)
          modifying, as necessary, the provisions of this Indenture relating to
          the right of holders of the Notes to cause the Company to repurchase
          the Notes following a Fundamental Change, including without limitation
          the applicable provisions of this Section 3.01 and the definitions of
          Common Stock and Fundamental Change, as appropriate, as determined in
          good faith by the Company (which determination shall be conclusive and
          binding), to make such provisions apply to such other Person if

                                      Amendments to Third Supplemental Indenture

                                      -28-

<PAGE>

          different from the Company and the common stock issued by such Person
          (in lieu of the Company and the Common Stock of Parent)."

     (gg) Section 3.01(f) is amended by replacing the term "The Company" with
the term "The Company and Parent".

                                      Amendments to Third Supplemental Indenture

                                      -29-

<PAGE>

SECTION 5. AMENDMENTS TO THE FOURTH SUPPLEMENTAL INDENTURE.

From and after the Effective Time, Providian, Washington Mutual, WM Sub and the
Trustee hereby agree to the following modifications and additions to the Fourth
Supplemental Indenture (all Section references in this Section 5 are deemed to
refer to the applicable sections in the Fourth Supplemental Indenture, unless
otherwise specifically indicated).

     (a) Section 1.02 is amended and restated as follows:

          "Form Of Notes. The definitive form of the Notes originally issued
          under this Supplemental Indenture is set forth in Exhibit A attached
          hereto, which is incorporated herein and made part hereof. The terms
          of this Supplemental Indenture, as amended, shall be deemed to amend
          the terms set forth in such definitive form of Notes. The Stated
          Maturity of the Accreted Principal Amount (as defined below) of the
          Notes shall be March 15, 2016."

     (b) Section 1.12 is amended to include the following definitions:

          "MERGER EFFECTIVE TIME" means the time at which the Merger became
          effective in accordance with the Delaware General Corporation Law.

          "MERGER" means the merger of Providian Financial Corporation pursuant
          to that certain merger agreement, dated as of June 5, 2005, among
          Providian Financial Corporation, New American Capital, Inc. and
          Washington Mutual, Inc., as amended or supplemented from time to time.

          "PARENT SUBSIDIARY" means a corporation more than 50% of the
          outstanding voting stock of which is owned, directly or indirectly, by
          Parent or by one or more other Parent Subsidiaries, or by Parent and
          one or more other Parent Subsidiaries.

     (c) The following definitions in Section 1.12 are amended and restated in
their entirety to read as follows:

          "COMMON STOCK" means any stock of any class of Parent which has no
          preference in respect of dividends or of amounts payable in the event
          of any voluntary or involuntary liquidation, dissolution or winding up
          of Parent and which is not subject to redemption by Parent. Subject to
          the provisions of Section 3.06 and Section 2.01(c), however, shares
          issuable on conversion of Notes or otherwise issuable under the Fourth
          Supplemental Indenture shall include only shares of the class
          designated as common stock of Parent at the Merger Effective Time
          (namely, the Common Stock, no par value) or shares of any class or
          classes resulting from any reclassification or reclassifications
          thereof and which have no preference in respect of dividends or of
          amounts payable in the event of any voluntary or involuntary
          liquidation, dissolution or winding up of Parent and which are not
          subject to redemption by Parent; provided that if at any time there
          shall be more than one such resulting class, the shares of each such
          class then so issuable on conversion shall be substantially in the
          proportion which the total number of shares of such class resulting
          from all such reclassifications bears to

                                     Amendments to Fourth Supplemental Indenture

                                      -30-

<PAGE>

          the total number of shares of all such classes resulting from all such
          reclassifications.

          "COMPANY" means New American Capital, Inc., and, subject to the
          provisions of Section 801 of the Indenture and Section 3.06, shall
          include its successors and assigns.

          "CONVERSION PRICE" as of any day means the amount equal to the
          Accreted Principal Amount per $1,000 original principal amount of
          Notes, minus the Cash Portion of the Conversion Rate, with the result
          thereof divided by the Stock Portion of the Conversion Rate then in
          effect.

          "FUNDAMENTAL CHANGE" means the occurrence of any transaction, series
          of related transactions or event (whether by means of an exchange
          offer, liquidation, tender offer, consolidation, merger, combination,
          reclassification, recapitalization or otherwise) in connection with
          which (A) more than 50% of the Common Stock or other capital stock or
          equity or voting interests in Parent or the Company is exchanged for,
          converted into, acquired for or constitutes the right to receive cash,
          securities or other property, or the Common Stock ceases to be listed
          on a national securities exchange or quoted on the Nasdaq National
          Market, or (B) either the Company or Parent sells or otherwise
          disposes of all or substantially all of its, and its Subsidiaries' or
          Parent Subsidiaries', respectively, assets, properties or businesses,
          taken as a whole.

          "TRADING PRICE" means, on any date, the trading price per $1,000
          original principal amount of the Notes on such date, as determined by
          the average of the secondary market bid quotations obtained by the
          Trustee for $5,000,000 original principal amount of Notes at
          approximately 3:30 p.m., New York City time, on such date from three
          independent nationally recognized securities dealers selected by the
          Company; provided that if at least three such bids cannot reasonably
          be obtained by the Trustee, but two bids are obtained, then the
          average of the two bids shall be used, and if only one such bid can
          reasonably be obtained by the Trustee, one bid shall be used; and
          provided further that if the Trustee cannot reasonably obtain at least
          one bid for $5,000,000 original principal amount of Notes from a
          nationally recognized securities dealer, then the Trading Price per
          $1,000 original principal amount of Notes shall be deemed to be less
          than 98% of the sum of (1) the product of the Closing Price of the
          Common Stock and the Stock Portion of the Conversion Rate plus (2) the
          Cash Portion of the Conversion Rate.

     (d) The last sentence of Section 2.01(a) is amended and restated to read as
follows:

          "The Make Whole Premium will be paid on the Fundamental Change
          Repurchase Date in shares of Common Stock as described below."

                                     Amendments to Fourth Supplemental Indenture

                                      -31-

<PAGE>

     (e) The Additional Premium Table set forth in Section 2.01(b)(iii) is
replaced in its entirety as follows:

<TABLE>
<CAPTION>
                                             STOCK PRICE
                 ---------------------------------------------------------------------
EFFECTIVE DATE   $26.07   $28.89   $31.11   $33.33   $35.56   $38.89   $44.44   $50.00
--------------   ------   ------   ------   ------   ------   ------   ------   ------
<S>              <C>      <C>      <C>      <C>      <C>      <C>      <C>      <C>
March 15, 2005    0.0%     3.9%     8.2%     12.8%    17.4%    21.7%    19.5%    17.8%
March 15, 2006    0.0%     2.6%     6.9%     11.2%    15.7%    20.0%    17.5%    15.8%
March 15, 2007    0.0%     1.7%     5.6%      9.8%    14.2%    18.2%    15.6%    13.7%
March 15, 2008    0.0%     0.8%     4.4%      8.3%    12.5%    16.2%    13.4%    11.4%
March 15, 2009    0.0%     0.0%     3.0%      6.5%    10.3%    13.7%    10.6%     8.4%
March 15, 2010    0.0%     0.0%     1.3%      4.2%     7.4%    10.3%     6.8%     4.7%
March 15, 2011    0.0%     0.0%     0.0%      0.0%     0.0%     0.0%     0.0%     0.0%

<CAPTION>
                                         STOCK PRICE
                 --------------------------------------------------------------
EFFECTIVE DATE   $55.56   $61.11   $66.67   $77.78   $88.89   $111.11   $222.22
--------------   ------   ------   ------   ------   ------   -------   -------
<S>              <C>      <C>      <C>      <C>      <C>      <C>       <C>
March 15, 2005    16.3%    15.2%    14.2%    12.7%    11.6%     9.9%      0.0%
March 15, 2006    14.3%    13.2%    12.2%    10.8%     9.8%     8.4%      0.0%
March 15, 2007    12.2%    11.1%    10.2%     8.9%     8.0%     6.8%      0.0%
March 15, 2008     9.9%     8.8%     7.9%     6.8%     6.1%     5.2%      0.0%
March 15, 2009     7.0%     6.0%     5.3%     4.5%     4.1%     3.6%      0.0%
March 15, 2010     3.5%     2.9%     2.5%     2.2%     2.0%     1.9%      0.0%
March 15, 2011     0.0%     0.0%     0.0%     0.0%     0.0%     0.0%      0.0%
</TABLE>

     (f) Section 2.01(b)(iv) is amended and restated as follows:

          " "MAKE WHOLE PREMIUM" means the amount per $1,000 original principal
          amount of Notes equal to:

               (A)  If the Effective Date is on or after March 15, 2011, $0;

               (B)  If the Stock Price is less than $26.07 (subject to
                    adjustment pursuant to Section 2.02 (the "STOCK PRICE
                    THRESHOLD"), $0; and

               (C)  If the Stock Price is more than $222.22 (subject to
                    adjustment pursuant to Section 2.02) (the "STOCK PRICE
                    CAP"), $0; and

               (D)  Otherwise, the dollar amount equal to

                    (1)  the sum of one percent (1%) and the Additional Premium,
                         times

                    (2)  $1,000.

          For example, if the Stock Price were $33.33 and the Effective Date
          were March 15, 2010, the Additional Premium would be 4.2% and the Make
          Whole Premium would be $52.00."

     (g) The last paragraph of Section 2.01(d) is amended by replacing the term
"Company's web site" with "Parent's web site" where it appears therein.

     (h) The first sentence of Section 2.01(e) is amended by replacing the term
"the Company" with "the Company or Parent" in each instance in which it appears.

     (i) Section 2.02 is amended by replacing the term "Conversion Rate" with
"Stock Portion of the Conversion Rate" in each instance in which it appears
therein.

     (j) Section 2.03 is amended by replacing the term "the Company" with "the
Company or Parent".

     (k) The first sentence of Section 3.01(a) is amended and restated in its
entirety to read as follows:

                                     Amendments to Fourth Supplemental Indenture

                                      -32-

<PAGE>

          "Subject to and upon compliance with the provisions of this Indenture,
          prior to March 15, 2016, the Holder of any Note shall have the right,
          at such Holder's option, to convert the original principal amount of
          the Note, or any portion of such original principal amount which is a
          multiple of $1,000, into fully paid and non-assessable shares of
          Common Stock (as such shares shall then be constituted) and cash equal
          to the Stock Portion and the Cash Portion, respectively, of the
          Conversion Rate in effect at such time (the "Default Conversion
          Consideration"), by surrender of the Note so to be converted in whole
          or in part, together with any required funds, under the circumstances
          described in this Section 3.01 and in the manner described in Section
          3.02."

     (l) Section 3.01(a)(i) is amended by replacing the figure "$20.41" with the
figure "$45.36".

     (m) Section 3.01(a)(iii) is amended and restated in its entirety to read as
follows:

          "during the five Business Day period after any five consecutive
          Trading Day period in which the Trading Price per $1,000 original
          principal amount of Notes for each day of such five Trading Day period
          was less than 98% of the sum of (1) the product of the Closing Price
          of the Common Stock and the Stock Portion of the Conversion Rate plus
          (2) the Cash Portion of the Conversion Rate; provided that if on the
          date of any conversion pursuant to this clause (iii) the Closing Price
          of the Common Stock is greater than the Conversion Price, a Holder
          shall receive, in lieu of the Default Conversion Consideration, cash
          or Common Stock or a combination of cash or Common Stock, at the
          Company's option, with a value equal to the Accreted Principal Amount
          of the Holders' Notes plus accrued and unpaid interest, including
          contingent interest, if any, as of the conversion date (such amount,
          the "Principal Value Conversion Amount", and such conversion, a
          "Principal Value Conversion");

     (n) Section 3.01(a)(vii) is amended by replacing the term "the Company"
with "Parent" in each instance in which it appears.

     (o) The second to last paragraph of Section 3.01(a) is amended by replacing
the reference to "the Company's web site" with "Parent's web site".

     (p) The last paragraph of Section 3.01(a) is amended and restated as
follows:

          "The Trustee (or other conversion agent appointed by the Company)
          shall have no obligation to determine the Trading Price of the Notes
          under this Section 3.01 unless the Company has requested such a
          determination; and the Company shall have no obligation to make such
          request unless a Holder provides it, on or prior to 12:00 noon (New
          York City time) on any Trading Day, with reasonable evidence that the
          Trading Price per $1,000 original principal amount of Notes would be
          less than 98% of the sum of (1) the product of the Closing Price of
          the Common Stock and the Stock Portion of the Conversion Rate plus (2)
          the Cash Portion of the Conversion Rate. If such evidence is provided,
          the Company shall instruct the

                                     Amendments to Fourth Supplemental Indenture

                                      -33-

<PAGE>

          Trustee (or other conversion agent) to determine the Trading Price of
          the Notes beginning on the next Trading Day and on each successive
          Trading Day until the Trading Price per $1,000 principal amount of
          Notes is greater than or equal to 98% of the sum of (1) the product of
          the Closing Price of the Common Stock and the Stock Portion of the
          Conversion Rate plus (2) the Cash Portion of the Conversion Rate."

     (q) The second to last sentence of Section 3.01(c) is amended and restated
as follows:

          "Concurrently with the mailing of such notice, the Company or Parent
          shall issue a press release with the information contained in such
          notice, the form and content of which press release shall be
          determined by the Company in its sole discretion, and the Company
          shall also publish such information on Parent's web site."

     (r) The last sentence of Section 3.02(c) is amended and restated as
follows:

          "If the Company elects to deliver Common Stock to pay any portion of
          such Principal Value Conversion Amount, Parent will deliver such
          Common Stock on the fourth Trading Day following the conversion date."

     (s) The portion of the first sentence of Section 3.02(d) beginning "As
promptly as practicable" and ending with "at the office or agency" is amended
and restated as follows:

          "As promptly as practicable after satisfaction of the requirements for
          conversion set forth above, subject to compliance with any
          restrictions on transfer if shares issuable on conversion are to be
          issued in a name other than that of the Holder (as if such transfer
          were a transfer of the Note or Notes (or portion thereof) so
          converted), the Company or Parent shall issue and shall deliver to
          such Holder at the office or agency".

     (t) Section 3.02(d)(i) is amended and restated as follows:

          "(i)(A) a certificate or certificates for the number of full shares of
          Common Stock issuable as the Stock Portion upon the conversion of such
          Note or portion thereof as determined by the Company in accordance
          with the provisions of this Article 3 (or, in the case of Notes
          submitted for conversion in connection with a Fundamental Change
          pursuant to Section 3.01(a)(vi) on or after the record date for
          receiving distributions in connection with the Fundamental Change, or
          if earlier, the Effective Time of the Fundamental Change, the kind and
          amount of cash, securities and other assets or property which the
          Holder would have received if it had held the number of shares of
          Common Stock issuable as the Stock Portion of the Conversion Rate upon
          the conversion of such Note or portion thereof prior to such record
          date or Effective Time) and (B) cash in the amount of the Cash Portion
          payable upon the conversion of such Note or portion thereof as
          determined by the Company in accordance with the provisions of this
          Article 3;"

     (u) Section 3.02(g) is amended and restated as follows:

                                     Amendments to Fourth Supplemental Indenture

                                      -34-

<PAGE>

          "Upon the conversion of a Note, that portion of the Accreted Principal
          Amount and accrued but unpaid interest, including contingent interest,
          if any, with respect to the converted Note shall not be cancelled,
          extinguished or forfeited, but rather shall be deemed to be paid in
          full to the Holder thereof through delivery of the Common Stock and
          cash, together, in the case of Notes submitted for conversion in
          connection with a Fundamental Change pursuant to Section 3.01(a)(vi)
          or in connection with a redemption pursuant to Section 3.01(a)(iv),
          with any cash payment of accrued but unpaid interest, including
          contingent interest, if any, on Notes converted, and in each case,
          with cash in lieu of fractional shares, in exchange for the Note being
          converted pursuant to the provisions hereof; and the Fair Market Value
          of such shares of Common Stock and cash together, in the case of Notes
          submitted for conversion in connection with a Fundamental Change
          pursuant to Section 3.01(a)(vi) or in connection with a redemption
          pursuant to Section 3.01(a)(iv), with any such cash payment of accrued
          but unpaid interest, including contingent interest, if any, on Notes
          converted, and in each case, with any such cash payment in lieu of
          fractional shares, shall be treated as delivered, to the extent
          thereof, first in exchange for and in satisfaction of our obligation
          to pay the Accreted Principal Amount of the converted Note, the
          accrued but unpaid interest thereon, if any, and the contingent
          interest thereon, if any, and the balance, if any, of such Fair Market
          Value of such Common Stock (and any such payments) shall be treated as
          issued in exchange for and in satisfaction of the right to convert the
          Note being converted pursuant to the provisions hereof.
          Notwithstanding the foregoing, in the case of Notes submitted for
          conversion in connection with a Fundamental Change pursuant to Section
          3.01(a)(vi), such Notes shall continue to represent the right to
          receive the Make Whole Premium, if any, payable pursuant to Article 2
          until such Make Whole Premium is so paid."

     (v) The second to last sentence of Section 3.03 is amended and restated as
follows:

          "If any fractional share of stock would be issuable upon the
          conversion of any Note or Notes, Parent shall not issue such
          fractional share and the Company shall make an adjustment and payment
          therefor will be made by Parent or the Company in cash at the current
          market price thereof to the Holder of Notes."

     (w) Section 3.04 is amended and restated as follows:

          "Conversion Rate. Shares of Common Stock and cash shall be delivered
          upon conversion at a rate of (i) 23.5470 shares of Common Stock (the
          "Stock Portion") and (ii) $117.5910 cash (the "Cash Portion") for each
          $1,000 original principal amount of Notes converted (the "Conversion
          Rate"), subject to adjustment as provided in this Article 3.

     (x) Section 3.05(a) is amended by replacing the term "the Company" with
"Parent" in each instance in which it appears and by replacing the term
"Conversion Rate" with "Stock Portion of the Conversion Rate" in each instance
in which it appears.

                                     Amendments to Fourth Supplemental Indenture

                                      -35-

<PAGE>

     (y) Section 3.05(b) is amended by replacing the term "the Company" with
"Parent" in each instance in which it appears, by replacing the term "Conversion
Rate" with "Stock Portion of the Conversion Rate" in each instance in which it
appears, by replacing the term "the Company's outstanding Common Stock" with
"Common Stock" in the second sentence of such section, and by replacing the term
"the Board of Directors" with "the Parent Board of Directors" in the last
sentence of such section.

     (z) Section 3.05(c) is amended by replacing the term "Conversion Rate" with
"Stock Portion of the Conversion Rate" in each instance in which it appears.

     (aa) Section 3.05(d) is amended by replacing the term "the Company" with
"Parent" in each instance in which it appears, by replacing the term
"Subsidiary" appearing in the first sentence of the section with the term
"Parent Subsidiary", by replacing the terms "the Board of Directors" and "the
Company's Board of Directors" with "the Parent Board of Directors" in each
instance where either appears, by replacing the term "Conversion Rate" with
"Stock Portion of the Conversion Rate" in each instance in which it appears and
by replacing the phrase "Rights Agreement, dated as of June 1, 1997, between the
Company and First Chicago Trust Company of New York, as amended by Amendment No.
1 to Rights Agreement dated February 17, 1999", with the phrase "Rights
Agreement, dated as of December 20, 2000, between Washington Mutual and Mellon
Investor Services L.L.C., as amended and supplemented from time to time".

     (bb) Section 3.05(e) is amended by replacing the term "the Company" with
"Parent" in each instance in which it appears and by replacing the term
"Conversion Rate" with "Stock Portion of the Conversion Rate" in each instance
in which it appears.

     (cc) Section 3.05(f) is amended by replacing the term "the Company" with
"Parent" in each instance in which it appears, by replacing the term
"Subsidiary" with "Parent Subsidiary" in each instance in which it appears, by
replacing the term "Conversion Rate" with "Stock Portion of the Conversion Rate"
in each instance in which it appears and by replacing the term "Board of
Directors" with "Parent Board of Directors" in each instance in which it
appears.

     (dd) Sections 3.05(g)(i) and (g)(iii) are amended by replacing the term
"Board of Directors" with the term "Parent Board of Directors".

     (ee) The first paragraph of Section 3.05(h) is amended by replacing the
term "Conversion Rate" with "Stock Portion of the Conversion Rate" where it
appears therein.

     (ff) The second paragraph of Section 3.05(h) is amended by replacing the
term "Conversion Rate" with "Stock Portion or Cash Portion of the Conversion
Rate" where it appears therein.

     (gg) Section 3.05(i) is amended by replacing the phrase "Company plan for
reinvestment" with "Parent plan for reinvestment", by replacing the term
"Conversion Rate" with "Stock Portion of the Conversion Rate" where it appears
therein and by replacing the phrase "(other than capital stock of the Company)"
with "(other than capital stock of Parent)".

     (hh) Section 3.05(k) is amended by replacing the term "the Company" with
"the Company or Parent, as applicable" in the first sentence of such section.

                                     Amendments to Fourth Supplemental Indenture

                                      -36-

<PAGE>

     (ii) Section 3.05(l) is amended by replacing the terms "the Company" and
"The Company" with "Parent" in each instance in which either appears.

     (jj) Section 3.05(m) is amended by replacing the term "Conversion Rate"
with "Stock Portion of the Conversion Rate" where it appears therein.

     (kk) The first paragraph of Section 3.06 is amended and restated to read as
follows:

          "If any of the following events occur, namely (i) any reclassification
          or change of the outstanding shares of Common Stock (other than a
          subdivision or combination to which Section 3.05(c) applies), (ii) any
          consolidation, merger or combination of the Company or Parent with
          another Person as a result of which holders of Common Stock shall be
          entitled to receive stock, other securities or other property or
          assets (including cash) with respect to or in exchange for such Common
          Stock, or (iii) any sale or conveyance of all or substantially all of
          the properties and assets of the Company or Parent to any other Person
          as a result of which holders of Common Stock shall be entitled to
          receive stock, other securities or other property or assets (including
          cash) with respect to or in exchange for such Common Stock, then the
          Company or Parent or the successor or purchasing Person, as the case
          may be, shall execute with the Trustee a supplemental indenture (which
          shall comply with the Trust Indenture Act as in force at the date of
          execution of such supplemental indenture) providing that each Note
          shall be convertible into the kind and amount of securities or other
          assets or property receivable upon such reclassification, change,
          consolidation, merger, combination, sale or conveyance by a holder of
          a number of shares of Common Stock and cash issuable upon conversion
          of such Notes (assuming, for such purposes, a sufficient number of
          authorized shares of Common Stock are available to convert all such
          Notes) immediately prior to such reclassification, change,
          consolidation, merger, combination, sale or conveyance, and if holders
          of the Common Stock have the right to elect the form of consideration
          receivable upon such reclassification, change, consolidation, merger,
          combination, sale or conveyance, then for purposes of the foregoing,
          the consideration into which each Note shall be convertible shall be
          deemed to equal (X) the aggregate consideration distributed in respect
          of all shares of the Common Stock, (Y) divided by the total number of
          shares of Common Stock participating in the distribution, (Z) times
          the number of shares of Common Stock issuable upon conversion of such
          Note (assuming, for such purposes, a sufficient number of authorized
          shares of Common Stock are available to convert all such Notes)
          immediately prior to such reclassification, change, consolidation,
          merger, combination, sale or conveyance, plus, in the case of Notes
          converted in connection with a Fundamental Change pursuant to Section
          3.01(a)(vi), the Make Whole Premium with respect to such Notes. Such
          supplemental indenture shall provide for adjustments which shall be as
          nearly equivalent as may be practicable to the adjustments provided
          for in this Article 3."

     (ll) Section 3.07 is amended and restated to read as follows:

                                     Amendments to Fourth Supplemental Indenture

                                      -37-

<PAGE>

          "Taxes On Shares Issued. The issue of stock certificates on
          conversions of Notes shall be made without charge to the converting
          Holder for any documentary, stamp or similar issue or transfer tax in
          respect of the issue thereof. Neither the Company nor Parent, however,
          shall be required to pay any such tax which may be payable in respect
          of any transfer involved in the issue and delivery of stock in any
          name other than that of the Holder of any Note converted, and neither
          the Company nor Parent shall be required to issue or deliver any such
          stock certificate unless and until the Person or Persons requesting
          the issue thereof shall have paid to Parent the amount of such tax or
          shall have established to the satisfaction of Parent that such tax has
          been paid."

     (mm) Section 3.08 is amended by replacing the terms "the Company" and "The
Company" with "Parent" in each instance where either appears.

     (nn) The third and fourth sentences of Section 3.09 are amended and
restated to read as follows:

          "Neither the Trustee nor any conversion agent shall be responsible for
          any failure of the Company or Parent to issue, transfer or deliver any
          shares of Common Stock or stock certificates or other securities or
          property or cash upon the surrender of any Note for the purpose of
          conversion or to comply with any of the duties, responsibilities or
          covenants of the Company or Parent contained in this Article 3.
          Without limiting the generality of the foregoing, neither the Trustee
          nor any conversion agent shall be under any responsibility to
          determine the correctness of any provisions contained in any
          supplemental indenture entered into pursuant to Section 3.06 relating
          either to the kind or amount of shares of stock or securities or
          property (including cash) receivable by Holders upon the conversion of
          their Notes after any event referred to in such Section 3.06 or to any
          adjustment to be made with respect thereto, but, subject to the
          provisions of Section 601 of the Indenture, may accept as conclusive
          evidence of the correctness of any such provisions, and shall be
          protected in relying upon, the Opinion of Counsel, Officers'
          Certificate and Parent Officers' Certificate (which the Company and
          Parent, as applicable, shall be obligated to file with the Trustee
          prior to the execution of any such supplemental indenture) with
          respect thereto."

     (oo) Section 3.10 is amended and restated to read as follows:

          "Notice To Holders Prior To Certain Actions. In case:

          (a) Parent shall declare a dividend (or any other distribution) on its
          Common Stock that would require an adjustment in the Conversion Rate
          pursuant to Section 3.05; or

          (b) Parent shall authorize the granting to the holders of all or
          substantially all of its Common Stock of rights or warrants to
          subscribe for or purchase any share of any class or any other rights
          or warrants; or

                                     Amendments to Fourth Supplemental Indenture

                                      -38-

<PAGE>

          (c) of any reclassification or reorganization of the Common Stock of
          Parent (other than a subdivision or combination of its outstanding
          Common Stock, or a change in par value, or from par value to no par
          value, or from no par value to par value), or of any consolidation or
          merger to which the Company or Parent is a party and for which
          approval of any stockholders of Parent is required, or of the sale or
          transfer of all or substantially all of the assets of Parent or the
          Company; or

          (d) of the voluntary or involuntary dissolution, liquidation or
          winding up of Company or Parent;

          the Company and Parent shall cause to be filed with the Trustee and to
          be mailed to each Holder of Notes at its address appearing on the
          Security Register provided for in Section 305 of the Indenture, as
          promptly as possible but in any event at least ten (10) days prior to
          the applicable date hereinafter specified, a notice stating (x) the
          date on which a record is to be taken for the purpose of such
          dividend, distribution or rights or warrants, or, if a record is not
          to be taken, the date as of which the holders of Common Stock of
          record to be entitled to such dividend, distribution or rights are to
          be determined, or (y) the date on which such reclassification,
          consolidation, merger, sale, transfer, dissolution, liquidation or
          winding up is expected to become effective or occur, and the date as
          of which it is expected that holders of Common Stock of record shall
          be entitled to exchange their Common Stock for securities or other
          property deliverable upon such reclassification, consolidation,
          merger, sale, transfer, dissolution, liquidation or winding up.
          Failure to give such notice, or any defect therein, shall not affect
          the legality or validity of such dividend, distribution,
          reclassification, consolidation, merger, sale, transfer, dissolution,
          liquidation or winding up."

     (pp) The second to last sentence of the first paragraph of Section 4.01(b)
is amended and restated to read as follows:

          "Concurrently with the mailing of such notice, the Company or Parent
          shall issue a press release with the information contained in such
          notice, the form and content of which press release shall be
          determined by the Company in its sole discretion, and the Company
          shall also publicly announce such information and publish it on
          Parent's web site."

     (qq) Section 4.01(e) is amended and restated to read as follows:

          "In the case of a reclassification, change, consolidation, merger,
          combination, sale or conveyance to which Section 3.06 applies, in
          which Common Stock is changed or exchanged as a result into the right
          to receive stock, securities or other property or assets (including
          cash), which includes shares of Common Stock or shares of common stock
          of another Person that are, or upon issuance will be, traded on a
          United States national securities exchange or approved for trading on
          an established automated over-the-counter trading market in the United
          States and such shares constitute at the time such change or exchange
          becomes effective in excess of 50% of the aggregate fair market value
          of such stock, securities or other

                                     Amendments to Fourth Supplemental Indenture

                                      -39-

<PAGE>

          property or assets (including cash) (as determined by Parent, which
          determination shall be conclusive and binding), then the Person formed
          by such consolidation or resulting from such merger or which acquires
          such assets, as the case may be, shall execute and deliver to the
          Trustee a supplemental indenture (accompanied by an Opinion of Counsel
          that such supplemental indenture complies with the Trust Indenture Act
          as in force at the date of execution of such supplemental indenture)
          modifying, as necessary, the provisions of this Indenture relating to
          the right of holders of the Notes to cause the Company to repurchase
          the Notes following a Fundamental Change, including without limitation
          the applicable provisions of this Section 4.01 and the definitions of
          Common Stock and Fundamental Change, as appropriate, as determined in
          good faith by the Company (which determination shall be conclusive and
          binding), to make such provisions apply to such other Person if
          different from the Company and the common stock issued by such Person
          (in lieu of the Company and the Common Stock of Parent)."

     (rr) Section 4.01(f) is amended by replacing the term "The Company" with
the term "The Company and Parent".

     (ss) Section 5.01(e) is amended by replacing the term "The Company" with
the term "The Company and Parent".

     (tt) The last sentence of Section 9.01 is amended and restated to read as
follows:

          "Notwithstanding the foregoing, the Company, Parent and the Trustee
          may enter into a supplemental indenture without the consent of any
          Holders affected to provide that any provision that gives the Company
          the option to make a payment in cash or stock shall be changed into a
          provision that requires the Company to make such payment solely in
          cash or in stock, as the case may be."

                                     Amendments to Fourth Supplemental Indenture

                                      -40-

<PAGE>

SECTION 6. ASSUMPTION AGREEMENT.

From and after the Effective Time, pursuant to Sections 801 of the Indenture, WM
Sub hereby agrees to assume all of the obligations of Providian under the
Indenture, as amended and supplemented, and the Securities.

SECTION 7. RATIFICATION AND EFFECT.

Except as hereby expressly amended, the Indenture is in all respects ratified
and confirmed and all the terms, provisions and conditions thereof shall be and
remain in full force and effect.

Upon and after the execution of this Fifth Supplemental Indenture, each
reference in the Indenture to "this Indenture", "hereunder", "hereof" or words
of like import referring to the Indenture, and likewise, each such reference to
the "Second", "Third" or "Fourth" Supplemental Indenture shall mean and be a
reference to the Indenture, the Second Supplemental Indenture, the Third
Supplemental Indenture or the Fourth Supplemental Indenture, as applicable, as
modified hereby.

SECTION 8. GOVERNING LAW.

THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS
FIFTH SUPPLEMENTAL INDENTURE, THE INDENTURE AS SUPPLEMENTED AND AMENDED HEREBY,
AND THE SECURITIES WITHOUT REGARD TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF.

SECTION 9. COUNTERPART ORIGINALS.

This Fifth Supplemental Indenture may be executed in any number of counterparts,
each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument.

SECTION 10. THE TRUSTEE.

The recitals in this Fifth Supplemental Indenture shall be taken as the
statements of Providian, Washington Mutual and WM Sub, and the Trustee assumes
no responsibility for their correctness. The Trustee shall not be responsible or
accountable in any manner whatsoever for or with respect to the validity or
sufficiency of this Fifth Supplemental Indenture.

                         [Signatures on following page]

                                      -41-

<PAGE>

IN WITNESS WHEREOF, the parties hereto have caused this Fifth Supplemental
Indenture to be duly executed as of the date first written above.

                                             Providian Financial Corporation.,
                                             as the "Company" prior to the
                                             Effective Time of the Merger

                                             By: /s/ Anthony F. Vuoto
                                                 -------------------------------
                                             Name: Anthony F. Vuoto
                                             Title: Chief Financial Officer

                                             New American Capital, Inc., as the
                                             "Company" from and after the
                                             Effective Time of the Merger

                                             By: /s/ Fay L. Chapman
                                                 -------------------------------
                                             Name: Fay L. Chapman
                                             Title: Executive Vice President

                                             Washington Mutual, Inc. as "Parent"
                                             from and after the Effective Time
                                             of the Merger

                                             By: /s/ Kerry K. Killinger
                                                 -------------------------------
                                             Name: Kerry K. Killinger
                                             Title: Chairman and Chief Executive
                                                    Officer

                                             J.P. Morgan Trust Company, National
                                             Association, as "Trustee"

                                             By: /s/ Janice Ott Rotunno
                                                 -------------------------------
                                             Name: Janice Ott Rotunno
                                             Title: Vice Preseident<PAGE>
                                                                     EXHIBIT 4.7

                          FIRST SUPPLEMENTAL INDENTURE

                                  by and among

               PROVIDIAN FINANCIAL CORPORATION, as original Issuer

                 NEW AMERICAN CAPITAL, INC., as successor Issuer

                                       and

                        THE BANK OF NEW YORK, as Trustee

                           Dated as of October 1, 2005

    Supplement to Junior Subordinated Indenture dated as of February 4, 1997

<PAGE>

                          FIRST SUPPLEMENTAL INDENTURE

     THIS FIRST SUPPLEMENTAL INDENTURE (this "SUPPLEMENTAL INDENTURE"), dated as
of October 1, 2005, is by and among Providian Financial Corporation, a Delaware
corporation, as original issuer ("PROVIDIAN" or, before the Effective Time, the
"COMPANY"), New American Capital, Inc., a Delaware corporation, as successor
issuer ("NEW AMERICAN" or, as of and after the Effective Time, the "COMPANY"),
and The Bank of New York, a New York banking corporation, as trustee (the
"TRUSTEE").

                                    RECITALS

     WHEREAS, Providian and the Trustee are parties to a Junior Subordinated
Indenture dated as of February 4, 1997 (as supplemented or amended from time to
time, the "INDENTURE") providing for the issuance by Providian of securities
from time to time;

     WHEREAS, Providian, Washington Mutual, Inc. and New American, which is a
direct, wholly owned subsidiary of Washington Mutual, Inc., have entered into an
Agreement and Plan of Merger, dated as of June 5, 2005, as amended and
supplemented, that provides for the merger (the "MERGER") of Providian with and
into New American;

     WHEREAS, the Merger will become effective as set forth in the certificate
of merger which shall be filed with the Secretary of State of Delaware on or
before the Closing Date, as defined in the Agreement and Plan of Merger (the
time and date when the Merger becomes effective is referred to herein as the
"EFFECTIVE TIME");

     WHEREAS, at the Effective Time, the separate corporate existence of
Providian will cease and New American will continue as the surviving corporation
following the Merger;

     WHEREAS, pursuant to Section 8.1 of the Indenture, the Company may merge
into another corporation only if, among other things, the successor corporation
expressly assumes by supplemental indenture the due and punctual payment of the
principal of (and premium, if any) and interest (including any Additional
Interest) on all of the Securities and the performance of every covenant of the
Indenture on the part of the Company to be performed or observed;

     WHEREAS, pursuant to Section 9.1(1) and Section 9.1(7) of the Indenture,
Providian and the Trustee may enter into a supplement to the Indenture to
evidence the succession of another Person to the Company and the assumption by
any such successor of the covenants of the Company therein and in the Securities
and to make any provision with respect to matters arising under the Indenture
that does not adversely affect in any material respect the interest of the
Holders of Securities of any series or the holders of any corresponding series
of Capital Securities; and

     WHEREAS, the execution and delivery of this Supplemental Indenture has been
duly authorized by the parties hereto, and all other acts necessary to make this
Supplemental Indenture a valid and binding supplement to the Indenture
effectively amending the Indenture as set forth herein have been duly taken.

<PAGE>

     NOW, THEREFORE, in consideration of the premises set forth herein and other
good and valuable consideration, Providian, New American and the Trustee agree
as follows for the equal and ratable benefit of the Holders:

                                    ARTICLE I

                           DEFINITIONS; INTERPRETATION

     1.1 Definitions. Capitalized terms that are defined in the preamble or the
recitals hereto shall have such meanings throughout this Supplemental Indenture.
Capitalized terms used but not defined in this Supplemental Indenture shall have
the meanings assigned thereto in the Indenture. The term "Indenture" as used
herein means the Indenture, as amended and supplemented by this Supplemental
Indenture, or as otherwise supplemented or amended from time to time by one or
more indentures supplemental thereto or hereto entered into pursuant to the
applicable provisions of the Indenture.

     1.2 Interpretation. References in the Indenture (including references in
the Indenture as amended or supplemented hereby) to "this Indenture" (and
indirect references such as "hereunder," "herein" and "hereof") shall be deemed
references to the Indenture as amended and supplemented hereby. All of the
covenants, agreements and provisions of this Supplemental Indenture shall be
deemed to be and construed as part of the Indenture to the same effect as if
fully set forth therein and shall be fully enforceable in the manner provided in
the Indenture. Except as otherwise provided in this Supplemental Indenture, all
of the covenants, agreements and provisions of the Indenture shall remain in
full force and effect.

                                   ARTICLE II

                                   THE MERGER

     Assumption by New American. New American, as the surviving corporation of
the Merger, shall become fully responsible as of the Effective Time, without any
further action, for: (i) the due and punctual payment of the principal and
interest on all of the Securities Outstanding under the Indenture, according to
their tenor and the Indenture; and (ii) the due and punctual performance and
observance of all of the covenants and conditions of the Indenture to be kept or
performed by the Company. Upon such assumption, New American shall succeed to
and be substituted for Providian with the same effect as if it had been named in
the Indenture as the original issuer, and Providian thereupon shall be relieved
of any further liability or obligation under the Indenture or upon the
Securities. Upon and following the Effective Time, the parties hereto agree that
all references to the "Company" in the Indenture and the Securities shall be
deemed references to New American, until a successor replaces it pursuant to the
applicable provisions of the Indenture and thereafter the "Company" shall mean
such successor.

                                        2

<PAGE>

                                   ARTICLE III

                                  MISCELLANEOUS

     3.1 Conflict with the Trust Indenture Act. If any provision of this
Supplemental Indenture modifies or excludes any provision of the Trust Indenture
Act that is required under such act to be part of and govern the Indenture, the
latter provision of the Trust Indenture Act shall control. If any provision
hereof modifies or excludes any provision of the Trust Indenture Act that may be
so modified or excluded, the latter provision of the Trust Indenture Act shall
be deemed to apply to this Supplemental Indenture, as so modified or excluded,
as the case may be.

     3.2 Securities and Forms Deemed Conformed. Beginning at the Effective Time,
the provisions of each Security then Outstanding shall be deemed to be
conformed, without the necessity for any reissuance or exchange of such Security
or any other action on the part of the Holders, Providian, New American or the
Trustee, so as to reflect this Supplemental Indenture, and the forms of Security
within and attached to the Indenture shall likewise be deemed to be conformed to
reflect this Supplemental Indenture.

     3.3 Successors. All agreements of Providian, New American and the Trustee
in this Supplemental Indenture and in the Indenture shall bind their respective
successors.

     3.4 Benefits of Supplemental Indenture. Nothing in this Supplemental
Indenture, express or implied, shall give to any person, other than the parties
hereto and their successors hereunder and the Holders, any benefit or any legal
or equitable right, remedy or claim under this Supplemental Indenture or the
Indenture.

     3.5 Separability. In case any provision in this Supplemental Indenture, or
in the Indenture, shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby, it being intended that all of the provisions
hereof shall be enforceable to the full extent permitted by law.

     3.6 Trustee Responsibility. The Trustee assumes no duties, responsibilities
or liabilities by reason of this Supplemental Indenture other than as set forth
in the Indenture. The Trustee assumes no responsibility for the correctness of
the statements herein contained, which shall be taken as statements of Providian
and New American. This Supplemental Indenture is executed and accepted by the
Trustee subject to all of the terms and conditions of its acceptance of the
trust under the Indenture, as fully as if said terms and conditions were herein
set forth in full.

     3.7 Headings. The Article and Section headings of this Supplemental
Indenture have been inserted for convenience of reference only, are not to be
considered a part of this Supplemental Indenture and shall in no way modify or
restrict any of the terms or provisions hereof.

                                        3

<PAGE>

     3.8 Counterparts. This Supplemental Indenture may be executed in
counterparts, each of which shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute but one and the same
instrument.

     3.9 Governing Law. This Supplemental Indenture shall be governed by and
construed in accordance with the internal laws of the State of New York, without
regard to its choice of law provisions.

                            [Signature Page Follows]

                                        4

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture to be duly executed as of the date first written above.

                                        Providian Financial Corporation., as the
                                        original issuer and the "Company" prior
                                        to the Effective Time of the Merger

                                        By: /s/ Anthony F. Vuoto
                                            ------------------------------------
                                        Name: Anthony F. Vuoto
                                        Title: Chief Financial Officer

                                        New American Capital, Inc., as the
                                        successor issuer and the "Company" from
                                        and after the Effective Time of
                                        the Merger

                                        By: /s/ Fay L. Chapman
                                            ------------------------------------
                                        Name: Fay L. Chapman
                                        Title: Executive Vice President

                                        The Bank of New York, as "Trustee"

                                        By: /s/ Van K. Brown
                                            ------------------------------------
                                        Name: Van K. Brown
                                        Title: Vice President

                                        5

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