Press Release Details

KANSAS CITY, Mo.--(BUSINESS WIRE)--Jan. 30, 2004--H&R Block Inc. (NYSE:HRB) today announced that Nicholas J. Spaeth, 54, has been hired as the company's senior vice president, chief legal officer. In his position, Mr. Spaeth will oversee the legal functions of the company's business units as well as the company's government relations activities.

"We're continuing to more closely align our tax, financial services and mortgage businesses so that we can address our clients' comprehensive financial needs. That requires that we also take a unified approach to our legal and government relations activities," said Mark A. Ernst, H&R Block chairman and chief executive officer. "Nick's depth of experience will make him a key advisor as we continue to grow our businesses."

Mr. Spaeth joins the company from Intuit Inc. in Mountain View, Calif., where he led the company's combined legal and corporate affairs departments. His 27-year legal background includes financial services experience, not only as senior vice president, general counsel and secretary for GE Employers Reinsurance Corporation, whose several dozen insurance companies generate nearly $9 billion in revenue, but also as a corporate lawyer for three major law firms where he specialized in the financial services sector, particularly banking and insurance. In addition, Mr. Spaeth has a strong government and regulatory background, having served as North Dakota's Attorney General from 1985 to 1993. A Rhodes scholar who received a master's degree from Oxford University, he is a 1977 graduate of Stanford Law School.

H&R Block also today announced that James H. Ingraham, senior vice president and general counsel, has decided to leave the company and pursue other opportunities. Mr. Ingraham has been a member of H&R Block's legal department since 1980 and has led the tax, e-solutions, business services and corporate legal functions during his career.

"Jim has been instrumental in helping us grow our business as well as introduce new financial products and services to our clients," Ernst said. "During his nearly 24-year career with H&R Block, his steady counsel has guided the company through some challenging issues and provided sound advice to senior management. We appreciate his many contributions, and he will be sorely missed."

About H&R Block

H&R Block Inc. (www.hrblock.com) is a diversified company with subsidiaries that deliver tax, financial, mortgage and business products and services. It is the only major company with subsidiaries offering a full range of software, online and in-office tax solutions, combined with personalized financial advice about retirement savings, home ownership, and other opportunities to help clients build a better financial future. As the world's largest tax services company, H&R Block served nearly 21 million clients in the U.S. and 11 countries in 2003. H&R Block Financial Advisors Inc. offers investment services and securities products. With more than 1,000 financial advisors serving clients at more than 400 offices, H&R Block Financial Advisors Inc. is a member NYSE, SIPC, a registered broker-dealer and a registered investment advisor. H&R Block Inc. is not a registered broker-dealer and is not a registered investment advisor. H&R Block Mortgage Corp. offers a full range of retail mortgage products. Option One Mortgage Corp. provides mortgage services and offers wholesale mortgage products through large financial institutions and a network of 24,000 independent mortgage brokers. RSM McGladrey Business Services Inc. and its subsidiaries serve mid-sized businesses and their owners with tax, accounting and business consulting services, as well as personal wealth management services.

    CONTACT: H&R Block Inc., Kansas City
             Linda McDougall, 816-932-7542 (Media Relations)
             Mark Barnett, 816-701-4443 (Investor Relations)

    SOURCE: H&R Block Inc.