MOUNTAIN VIEW, Calif. – Feb. 22, 2007 – Intuit Inc. (Nasdaq: INTU) today announced the first of three season-to-date sales updates for its fiscal year 2007 consumer tax products and services. Through Feb.17, 2007, total paid TurboTax federal unit sales increased 1 percent over the same period last year.

“Year-over-year, we continue to see purchases being made later in the season,” said Brad Henske, senior vice president and general manager of consumer tax. “With many consumers choosing to file later in the season, combined with the extended filing deadline, we believe we are well-positioned for another strong year.”

Season-to-date TurboTax Federal Unit Data

Intuit will issue two additional updates of its season-to-date end-user purchase data, based on the company’s best assessment of unit sales. The company expects to issue those updates in March and April.

MOUNTAIN VIEW, Calif. – Feb. 20, 2007 – Intuit Inc. (Nasdaq: INTU) announced today that Kiran Patel, its chief financial officer, will present at the Goldman Sachs Technology Investment Symposium, in Las Vegas on Tuesday, Feb. 27.

The audio webcast will be available on Intuit’s Web site.A replay of the webcast can be accessed approximately 24 hours after the presentation concludes.

Combined Companies to Create the Next Generation of Online Banking

MOUNTAIN VIEW, Calif. – Feb. 7, 2007 – Intuit Inc. (Nasdaq: INTU) has completed its acquisition of Digital Insight Corp. The acquisition closed on Feb. 6, following approval by Digital Insight’s stockholders. The total purchase price was approximately $1.33 billion, which includes options that were assumed by Intuit upon the closing of the acquisition. The purchase price was financed in part with the proceeds of a $1 billion bridge loan facility.
The combination of Intuit and Digital Insight will help redefine the relationship between financial institutions and their small business and consumer customers. The acquisition also brings together Intuit’s strong brands and proven customer-driven development process with Digital Insight, a leading technology provider in online banking.
There are currently 26 million small businesses in the United States. Eighty-two percent – some 22 million – of these businesses are the do-it-yourself types who use various nonintegrated systems, including pencil and paper.
“The rapid growth of the small business sector, combined with the growing adoption of online banking for those small business owners, creates an opportunity for us to transform the way they run their business,” said Steve Bennett, Intuit president and chief executive officer. “With Intuit and Digital Insight working together, small business owners will view their financial institution as a valued, long-term partner that helps them manage their business finances.”
Currently, more than 43 million households are doing some type of online banking. Financial institutions currently offer primarily transactional solutions that help consumers pay bills, view balances and see cleared checks. What’s missing is an interactive financial management offering that will delight consumers by helping them plan for the future and reach their financial goals. Intuit and Digital Insight are uniquely positioned to deliver such solutions.
Digital Insight Chief Executive Officer Jeff Stiefler has joined Intuit as president of Intuit’s financial institutions division.
Starting today, Intuit will begin integrating the two companies’ operations, category development, distribution models and customer support organizations to ensure a smooth transition and immediate value for customers, employees and partners. Together, the companies will serve 5,000 financial institutions, nearly 25 million consumers, and nearly 7 million small businesses.
Additional information regarding the expected financial impact of the acquisition will be provided during Intuit’s second quarter fiscal 2007 earnings conference call scheduled for 1:30 p.m. PST on Feb. 22. To hear the conference call, dial 866-206-6509 in the United States or 703-639-1108 from international locations. No reservation or access code is needed.

New List From TurboTax Identifies Cities That Give the Most to Charity

SAN DIEGO – Feb. 1, 2007 – Salt Lake City is America’s most giving city, according to a new list of America’s Most Giving and Stingiest cities from TurboTax®, the top-rated tax software from Intuit Inc. (Nasdaq: INTU). The list, based on average charitable contributions, shows that Salt Lake residents on average contributed just under $2,200 per person. That amount is almost double the national average of $1,230 in charitable contributions.
Claiming the top spot on America’s Stingiest City list is San Antonio where residents donated far less to their favorite charities, doling out on average just over $700 per resident, as reported on Schedule A of the federal 1040 tax form.

New List From TurboTax Identifies Cities That Give the Most to Charity

SAN DIEGO – Feb. 1, 2007 – Salt Lake City is America’s most giving city, according to a new list of America’s Most Giving and Stingiest cities from TurboTax®, the top-rated tax software from Intuit Inc. (Nasdaq: INTU). The list, based on average charitable contributions, shows that Salt Lake residents on average contributed just under $2,200 per person. That amount is almost double the national average of $1,230 in charitable contributions.
Claiming the top spot on America’s Stingiest City list is San Antonio where residents donated far less to their favorite charities, doling out on average just over $700 per resident, as reported on Schedule A of the federal 1040 tax form.

MOUNTAIN VIEW, Calif. – Jan. 24, 2007 – Intuit Inc. (Nasdaq: INTU) today announced that Per-Kristian (Kris) Halvorsen has been promoted to senior vice president and chief technology officer.
Halvorsen, 55, who has served as acting chief technology officer since September 2006, will continue to build Intuit’s growing technical community and focus on expanding the company’s technical expertise. He will lead Intuit’s technology strategy and will continue to partner with Intuit’s business and functional units as well as external companies to introduce innovative new offerings that solve important customer problems and create customer delight.
“Kris has a strong track record of innovation and applying technologies that win in the marketplace. I’m looking forward to his continued leadership in customer- and technology-driven innovation,” said Steve Bennett, Intuit’s president and chief executive officer. “With this promotion, Kris’s role expands to apply his broad skills in driving engineering teams to help our businesses accelerate the adoption of new technologies to drive faster growth.”
A renowned scientist and research and development leader, Halvorsen has more than 25 years in the information technology industry. His background, starting as a scientist and professor, spans positions in academics – where he spent time as a professor and research scientist – to several years leading research at Xerox PARC and HP Labs. Halvorsen, a Ph.D. from the University of Texas, also pursued post-graduate work at MIT and executive education at the Harvard Business School. He currently serves on boards of both companies and academic institutions specializing in technology.

10-year Forecast by Intuit and Institute for the Future Redefines the Face of Entrepreneurs

MOUNTAIN VIEW – Jan. 24, 2007 – The face of small business will dramatically change as seasoned baby boomers, kids fresh out of high school, mid-career women, “mompreneurs” and new immigrants come together to create the most diverse pool of entrepreneurs ever. Those are among the key findings of the groundbreaking Intuit Future of Small Business Report™, a unique study that looks forward 10 years and examines the prospects, influences and profiles of small business.
The first installment of the study, sponsored by Intuit Inc. (Nasdaq: INTU) and authored by the Institute for the Future, was released today. It focuses on new entrepreneurs who break the mold, the coming proliferation of personal businesses and the emergence of entrepreneurship education. Two upcoming installments will examine the technologies that will propel the small business sector and how small businesses will affect society and the economy through 2017.

Greater Diversity by 2017
The first installment concludes that the newest entrepreneurs will be far more diverse than their predecessors in age, origin and gender. By 2017, the white, middle-aged men who traditionally launch small businesses will be outnumbered by Generation Yers – those born after 1982 – women, immigrants and “un-retiring” baby boomers opting for entrepreneurship as a second career.
The report identifies three major trends: the changing face of small business, the rise of personal business and the emergence of entrepreneurial education. Those trends led to five major findings:

* Entrepreneurs will no longer come predominantly from the middle of the age spectrum, but instead from the edges. People nearing retirement and their children just entering the job market will set the bar as the most entrepreneurial generation ever.
* American entrepreneurship will reflect a huge upswing in the number of women. The glass ceiling that has limited women’s growth in traditional corporate career paths will send a rich talent pool to the small business sector.
* Immigrant entrepreneurs will drive a new wave of globalization. U.S. immigration policy and the outcome of the current immigration debates will affect how this segment performs over the next decade.
* Contract workers, accidental and social entrepreneurs will fuel a proliferation of personal businesses. Economic, social and technological change – and an increased interest in flexible work schedules – will produce a more independent workforce seeking a better work-life balance.
* Entrepreneurship will be a widely adopted curriculum at educational, trade and vocational institutions. As a result, artists, musicians and others not traditionally exposed to business education will learn not just their trade but small-business management skills as well.

“The next decade will see small and personal businesses become increasingly important sources of employment, economic growth and innovation,” said Steve King, senior advisor at the Institute for the Future and study co-author. “Leading small and personal businesses will be a diverse group of Americans, including young adults – even teens, women, immigrants and aging baby boomers.”
The study represents the first time that a wide set of business and demographic trends have been consolidated.
“Until now, the picture for American small businesses has been a fragmented set of statistics and forecasts,” said Brad Smith, senior vice president of Intuit’s small business division. “By putting the pieces together we’ve shown how different this sector may look in the future. These businesses may be small, but the changes in store will be anything but.”

Face of Future Entrepreneurs
Many baby boomers nearing retirement age will launch new businesses in far greater numbers than their counterparts from earlier generations, the study found. Their motivation: diminished job security, disappearing pensions and health benefits, and the need to match savings with longer life expectancies.
Many of their children will follow suit, becoming the most entrepreneurial generation in American history. Generation Yers view entrepreneurship as a way to maintain independence by owning their own careers. They are remarkably well-suited to the emerging entrepreneurial environment in which social and professional networks intermingle, information is ubiquitous, and the inner workings of the economy are far more transparent.
Women will increasingly turn to entrepreneurship. Among them: “mompreneurs” – mothers who start part-time, home-based businesses, often with the help of the Internet. These personal businesses, as the one-person sector is sometimes called, will be launched by people who may not even consider themselves small business owners.
A new breed of immigrant entrepreneurs will turn to the Internet to launch business, using their language skills, strong educations, multi-country contacts and professional experience to form international partnerships.

Shift Away from Traditional Employment
The line between small and large businesses will blur as more entrepreneurs form free-agent contracts with large companies as a natural response to the demise of lifetime employment. By 2017, free agents will thrive with less job security – they will have clients, not employers – but, in trade, will exert far more control over their time and working conditions.
For some professionals, entrepreneurship will complement a corporate career, but not replace it. The reason: Corporations and government agencies will see the entrepreneurial spirit as key to innovation and will train promising candidates accordingly. As a result, professionals will spend their careers alternating between two related worlds, sometimes running their own businesses in the free market and at other times running a virtual business within a larger organization. Experience in the former will help bolster the latter.

Entrepreneurial Education Expands
Entrepreneurial training will begin much earlier in life, with universities, secondary and vocational schools – and even some elementary schools – offering entrepreneurship as a mainstream subject. At the college level, the emphasis will widen, focusing not just on high-growth businesses backed by venture capital, but on small business ownership of all kinds.
“Once taught only in the school of hard knocks, entrepreneurship will become a mainstream subject, as fundamental to business education as accounting,” Smith said. “These courses will help transform the very definition of an entrepreneur to include professionals from all walks of life.”

San Diego – Jan. 16, 2007 – Online tax preparation turns 10 this month, culminating a decade of helping Americans easily and accurately prepare and file their own income taxes. In January 1997, the online tax revolution began when Intuit’s (Nasdaq: INTU) TurboTax® Online Web site went live, ushering 10,000 taxpayers into the e-tax era. From those humble beginnings, TurboTax Online mushroomed into the tax preparation method of choice for 6.7 million people last year.
Online tax preparation, along with tax software, is the fastest growing choice of U.S. taxpayers, outpacing all other tax preparation methods. Last year, an estimated 36 million tax returns were prepared using a home computer.
“Taxpayers are using their home computers to prepare and file their income tax returns electronically in record numbers,” said Bert DuMars, director, electronic tax administration for the Internal Revenue Service. “Online tax preparation and e-filing is easy, fast and secure.”
Online tax preparation is changing how Americans prepare their taxes, delivering an unprecedented level of ease, convenience and affordability compared to other tax preparation methods.
Ezra Puzon of Deridder, La. was one of the original TurboTax Online customers, and still uses it today. “I can’t imagine doing taxes any other way,” he said. “Going online is easy and convenient. TurboTax walks me through my return, asks simple questions and puts the right answers on the IRS forms. It double-checks for errors so I’m confident my taxes are done right.”
In the past decade, almost 27 million federal returns have been completed via TurboTax Online. Last year alone, more federal returns were electronically filed with TurboTax than with all other consumer tax software combined.
“When it comes to tax software, people consistently choose the easiest and most trusted source, and that’s TurboTax,” said Brad Henske, senior vice president of Intuit’s Consumer Tax Division. “We pioneered online taxes a decade ago and since then, we’ve widened the gap versus the competition, setting new standards for ease and innovation. It’s no wonder more people trust TurboTax than any other do-it-yourself solution.”

Graphic: a decade of TurboTax Online federal units

MOUNTAIN VIEW, Calif. – Jan. 3, 2007 – Intuit Inc. (Nasdaq: INTU) announced today that Kiran Patel, its chief financial officer, will present at the Needham & Company Growth conference, in New York on Wednesday, Jan. 10.
The audio webcast will be available on Intuit’s Web site at beginning at 5 a.m. PST. A replay of the webcast can be accessed approximately 24 hours after the presentation concludes.

MOUNTAIN VIEW, and CAMARILLO, Calif. – Dec. 14, 2006 -

Intuit Inc. (Nasdaq: INTU ) and Electronic Clearing House Inc.,(Nasdaq: ECHO) have signed a definitive agreement for Intuit to acquire ECHO. Under the terms of the agreement, Intuit will pay $18.75 per share in cash in exchange for each share of ECHO common stock, including shares issuable upon exercise of options. The total purchase price is approximately $142 million on a fully-diluted basis.

ECHO, based in Camarillo, Calif., is a leading provider of end-to-end payment processing solutions, including check and bank card processing as well as check verification, collection, and guarantee services and automatic clearing house capabilities, or ACH.

“The acquisition of ECHO will expand Intuit’s reach and capabilities in the fast-growing payments market,” said Steve Bennett, Intuit president and chief executive officer. “It will enhance our leadership position with small and medium-size businesses and help us accelerate growth.”

With ECHO’s ACH capabilities, Intuit will be able to round out its payment offering with check services. The company will be able to offer solutions to merchants through a single portal, that address the most commonly used payment methods, including credit card, debit card, gift card, check verification/guarantee and check conversion. The combined offerings will be designed to save merchants time and money.

In addition, the acquisition of ECHO will expand Intuit’s sales and distribution channels and provide relationships with thousands of customers, including larger enterprise customers, such as retail and hotel chains.

“ECHO’s comprehensive payment processing services, technology platform, and established relationships with customers and partners along with Intuit’ strong brand, innovative products and strong distribution are a winning combination,” said Chuck Harris, ECHO president and chief operating officer. “We also expect that our leading technology solution and our team of payment industry professionalswill help the combined company continue to deliver new and innovative products.”

The transaction is subject to regulatory review, ECHO shareholder approval and other customary closing conditions. The transaction is expected to close in the first quarter of calendar year 2007, at which time ECHO will become a wholly-owned subsidiary of Intuit, and ECHO’s stock will cease trading.

The executive officers and directors of ECHO entered into voting agreements with Intuit, pursuant to which the executive officers and directors agreed, among other things, to vote their shares of ECHO common stock in favor of the transaction.

The proposed acquisition was approved by the board of directors of each company. Wedbush Morgan Securities advised ECHO and rendered a fairness opinion in connection with the acquisition.