Press Releases

Intuit Expands Stock Repurchase Program
MOUNTAIN VIEW, Calif. - July 16, 2002 - Intuit Inc. (NASDAQ: INTU) today announced that its board of directors has increased the company's stock repurchase program by $250 million, from $500 million to $750 million. The three-year program was initially announced in May 2001. Since then, Intuit has repurchased approximately 7.6 million shares of its common stock for a total of approximately $327 million.

"Intuit is continually looking for ways to enhance shareholder value," said Steve Bennett, Intuit's president and chief executive officer. "First, we're executing well and delivering solid growth from our existing businesses. Second, we're implementing our strategy of acquiring companies to provide new growth engines and stimulate future organic growth. In addition, we're using our strong cash position to buy back our shares, enabling us to offset some of the dilution from employee stock programs."
 
About Intuit Inc.
Intuit Inc. (NASDAQ: INTU) is the leading provider of financial software and Web-based services for consumers, small businesses and accounting professionals. Its flagship products and services, including Quicken®, QuickBooks®, Quicken TurboTax® and Quicken Loans® simplify personal finance, small business management and payroll processing, tax preparation and filing and home loans.

Founded in 1983, Intuit has annual revenue of more than $1.3 billion and reaches 25 million customers with nearly 6,000 employees in 13 states and four countries. More information can be found at www.Intuit.com.
 
Intuit, the Intuit logo, Quicken, QuickBooks, Quicken Loans, QuickBooks Pro, QuickBase, TurboTax, ProSeries and Lacerte, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Quicken.com and Intuit Master Builder, among others, are trademarks and/or service marks of Intuit Inc., or one of its subsidiaries, in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.