Tax Information And Guide

Intuit Agrees to Acquire MyCorporation.com

Expands Offerings for Small Businesses

MOUNTAIN VIEW, Calif., - Nov. 02, 2005 - Intuit Inc. (Nasdaq: INTU) today announced it has signed a definitive agreement to acquire My Corporation Business Services, Inc. Doing business as MyCorporation.com, the company is a leading provider of services that enable small- and mid-sized businesses to incorporate and form limited liability companies, or LLCs, online.
Founded in 1997 and headquartered in Agoura Hills, Calif., privately held MyCorporation.com was one of the first companies to offer easy and affordable, online incorporation packages targeted to small- and mid-sized businesses as well as to legal and accounting professionals whose clients are starting a new business.

"Incorporation is an important way for many small businesses - millions of which are already Intuit QuickBooks, TurboTax and Quicken customers - to execute tax planning strategies and protect their personal assets," said Gordon Whitten, vice president of Intuit's small business tax initiatives. "We're excited about acquiring MyCorporation.com because it will enable us to offer customers a do-it-yourself solution that's simple and affordable, much as we've done with online tax preparation and online accounting."

Under the terms of the agreement, Intuit will pay approximately $20 million in cash for MyCorporation.com. Intuit does not expect the acquisition to have a material effect on financial results in fiscal 2006. The acquisition is expected to close within the next 30 days.

About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small- and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks, Quicken and TurboTax software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries and Lacerte are Intuit's leading tax preparation software suites for professional accountants.

Founded in 1983, Intuit had annual revenue of more than $2.0 billion in its fiscal year 2005. The company has nearly 7,000 employees, with major offices in 13 states across the United States and offices in Canada and the United Kingdom. More information can be found at www.intuit.com.

About MyCorporation.com
MyCorporation.com was founded in 1997 and is a leading provider of incorporation and related corporate services to customers on-line. MyCorporation.com's offerings enable customers to complete entity formation, trademark searches and registrations, copyright registrations, DBA registrations and appointment of agents. My Corporation does not provide legal advice. My Corporation encourages its customers to consult with legal counsel about these matters.

Cautions About Forward-Looking Statements
This press release contains forward-looking statements, including expectations relating to our acquisition of My Corporation Business Services, Inc. and its expected effect on Intuit's financial results. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from our expressed expectations. These factors include, without limitation, the following: Intuit may not be successful at integrating MyCorporation.com assets and employees into our business; Intuit may not be able to retain key employees; State laws and regulations governing incorporation services may limit future market opportunity or impose additional costs on Intuit. More details about these and other risks that may affect our business are included in our Form 10-K for fiscal 2005 and in subsequent Forms 10-Q, and other SEC filings. You can locate these reports through our website at http://www.intuit.com/about_intuit/investors. We do not undertake any duty to update any forward-looking statement or the information in this press release except as otherwise required by law.

Intuit and the Intuit logo are registered trademarks of Intuit Inc. in the United States and other countries.

Source: Intuit

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