H&R Block Announces Quarterly Cash Dividend, Schedules Conference Call to Announce Year-End Results

May 29, 2003

KANSAS CITY, Mo., May 29, 2003 /PRNewswire-FirstCall via COMTEX/ -- The Board of Directors of H&R Block Inc. (NYSE: HRB) declared a regular quarterly cash dividend of 18 cents per share, payable July 1, 2003 to shareholders of record on June 10, 2003.

This is the 164th consecutive, quarterly dividend paid by the company.

H&R Block will report its fourth quarter and fiscal 2003 financial results on Wednesday, June 11, 2003, after close of market. At that time, a copy of the press release will be available from the company's Web site at www.hrblock.com .

In connection with its earnings release, the company will also host a conference call for analysts and institutional investors at 5 p.m. EDT (4 p.m. CDT) June 11. Mark A. Ernst, chairman of the board and chief executive officer, Jeff Yabuki, executive vice president and chief operating officer, and Frank J. Cotroneo, senior vice president and chief financial officer, will discuss the quarter and year-end results and future expectations, as well as respond to analysts' questions. The call will be Webcast in a listen-only format for the media and public. The link to the Webcast can be obtained at www.hrblock.com .

A replay of the call will be available beginning at 8 p.m. EDT June 11 until 8 p.m. EDT June 18, by dialing 800-642-1687 (U.S./Canada) or 706-645-9291 (International). The replay access code is 242968. A replay of the Webcast will also be available on the company's Web site at www.hrblock.com through June 18.

About H&R Block

H&R Block Inc. ( www.hrblock.com ) is a diversified company with subsidiaries that deliver tax services and financial advice, investment and mortgage products and services, and business accounting and consulting services. As the world's largest tax services company, H&R Block served nearly 23 million clients during fiscal year 2002 through several channels, including the approximately 10,400 H&R Block retail offices worldwide, the company's award-winning software, TaxCut(R), and its online tax services. H&R Block is the only major tax and financial services company that focuses primarily on helping middle-income taxpayers achieve their financial goals. Investment services and securities products are offered through H&R Block Financial Advisors Inc., member NYSE, SIPC. H&R Block Inc. is not a registered broker-dealer. H&R Block Mortgage Corp. offers retail mortgage products. Option One Mortgage Corp. offers wholesale mortgage products and a wide range of mortgage services. RSM McGladrey Inc. serves mid-sized businesses with accounting, tax and consulting services.

SOURCE H&R Block Inc.

Bob Schneider, Media Relations, +1-816-932-4835, or Mark
Barnett, Investor Relations, +1-816-701-4443, both of H&R Block Inc.
http://www.hrblock.com