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March 26, 2007

Intuit Prices $1 Billion Senior Note Offering

Written by
Jack Johnson

MOUNTAIN VIEW, Calif. – March 8, 2007 – Intuit Inc. (Nasdaq: INTU) has announced that it priced a $1 billion public debt offering on March 7. The offering of investment-grade senior unsecured notes includes $500 million in five-year notes having a yield-to-maturity of 5.40 percent, and $500 million in 10-year notes having a yield-to-maturity of 5.81 percent.

The notes earned a Baa2 issuer rating by Moody’s Investors Service, Inc. and Standard & Poor’s assigned a BBB- rating to the notes. Intuit expects to use the proceeds from the offering to repay outstanding bridge debt used to finance the recent acquisition of Digital Insight Corporation. Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. acted as Joint Bookrunners, and Morgan Stanley & Co. Incorporated acted as Joint Lead Manager.

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