H&R Block Announces Leadership Change

Sep 4, 2003

KANSAS CITY, Mo.--(BUSINESS WIRE)--Sept. 4, 2003--H&R Block Inc. today announced that Frank J. Cotroneo, chief financial officer, has decided to leave the company effective October 31.

Mr. Cotroneo joined H&R Block as CFO in February 2000.

"I'm pleased with the accomplishments we've made over the past three years, and I am confident that I'm leaving H&R Block in strong financial standing with a team capable of continuing this progress," Mr. Cotroneo said. "I plan to stay until the end of October to assist in the transition to a new chief financial officer."

H&R Block Chairman and Chief Executive Officer Mark A. Ernst commented that: "Frank has played a leadership role in helping the company implement a disciplined financial management process and create a performance-driven culture within our finance organization. We appreciate Frank's many contributions and wish him well in the future."

    The company is initiating a search for Mr. Cotroneo's successor.

    About H&R Block

H&R Block Inc. (NYSE:HRB) (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 United States 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 500 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.
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    SOURCE: H&R Block Inc.