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Wells Fargo And Intuit Team To Provide Instant IRAs
Wells Fargo offers 20 percent discount on TurboTax for the Web to all customers
SAN FRANCISO and SAN DIEGO - January 17, 2002 - Wells Fargo & Company (NYSE: WFC) and Intuit Inc. (NASDAQ: INTU) today announced an exclusive agreement that will, for the first time, enable consumers to instantly open and fund an Individual Retirement Account (IRA) from within Quicken® TurboTax® software and the Quicken TurboTax for the WebSM service.

Taxpayers will instantly see the benefit of opening a Wells Fargo IRA while preparing their tax returns in TurboTax. For 2001, consumers can reduce their taxable income up to $2,000 within a single tax year by establishing an IRA, while in 2002, the maximum contribution will be raised to $3,000. Taxpayers can open and fund an IRA until April 15, 2002 and receive the full benefit on their 2001 tax return.

"The integration of this IRA application within TurboTax offers a huge benefit to tax filers by showing them how opening an IRA can improve their unique tax situation," said Shelley Freeman, executive vice-president, Wells Fargo Investment Internet Services. "This service provides a seamless and convenient way for eligible tax filers to reduce their taxable income, benefit from this last-minute deduction, and build a retirement savings that can mature over time. Wells Fargo is excited to partner with TurboTax to introduce this feature to consumers."

As the exclusive integrated provider of IRAs to TurboTax customers, Wells Fargo continues its commitment to innovation in online banking and IRA services. Wells Fargo was the first financial institution to provide the ability to open and fund an IRA online in February 2000.

Wells Fargo team members and consumers can take advantage of a 20 percent discount off TurboTax for the Web by enrolling at Additionally, the approximately 300,000 customers who formerly prepared their tax returns with the H.D. Vest online service - which was acquired by Wells Fargo in 2001 - will also receive a discount.

"TurboTax customers already know the benefits of preparing and filing their taxes online. There's nothing that is easier, faster or more convenient," said Bob Meighan, vice president of Intuit's Consumer Tax Group. "Wells Fargo is making TurboTax an even better value by offering great savings to all its customers and we believe that once someone uses TurboTax for the Web, they'll see why it is the most popular online tax preparation service."

Wells Fargo and Company (NYSE: WFC) is a $298 billion diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through 5,400 stores, its Internet site ( and other distribution channels across North America as well as internationally. Wells Fargo was the first financial services company in the U.S. to launch Internet banking services for its customers in 1995 (, and today is the only financial services company to be ranked in the Top 10 by Gomez Advisors for both online banking and online brokerage.

Wells Fargo was also the first major bank in the U.S. to provide a full line of brokerage services, investment management, trust and private banking all under one roof. Wells Fargo Online Brokerage is provided by Wells Fargo Investments, LLC (WFI). Customers can trade stocks, options, and more than 7,000 mutual funds online, and get access to news, research, free unlimited real time quotes, alerts, and watchlists, with 24/7 customer support. For investors seeking assistance from a full-service broker, WFI has approximately 1,200 financial consultants nationwide and is the nation's 8th largest broker-dealer.

TurboTax was the No.1-selling tax preparation software program in 2001, with 70 percent share of units sold at retail and more than 80 percent retail revenue share, up eight points over 2000, according to NPD Intelect. Its web-based counterpart, TurboTax for the Web, is the most popular site for online tax preparation and filing services. The Instant Data Entry feature is included at no additional charge in all 1040 versions of TurboTax. With more than 17 years of personal finance expertise, the TurboTax family of products saves time and money for more than 14 million Americans each year.

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®, TurboTax and Quicken LoansSM 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 billion and reaches 25 million customers with more than 6,000 employees in 13 states and four countries. More information can be found at <>.

Intuit, the Intuit logo, Quicken, QuickBooks, and TurboTax, among others, are registered trademarks and/or registered service marks of Intuit Inc. or one of its subsidiaries. and Quicken TurboTax for the Web, among others, are trademarks and/or service marks of Intuit Inc. or one of its subsidiaries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.
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