Cautions About Forward-Looking Statements
This press release includes forward-looking statements about expected financial results for fiscal 2003. Actual results may differ materially from Intuit's expressed expectations because of risks and uncertainties about the future. Some of the important factors that could cause Intuit's results to differ are listed below. More details about these and other risks are included in Intuit's fiscal 2002 Form 10-K and other SEC filings and at www.intuit.com/company/investors/considerations.html. The company will not update the information in this press release if any forward-looking statement later turns out to be inaccurate.

• Seasonality causes significant quarterly fluctuations in Intuit's revenue and net income.
• Fluctuations in interest rates can cause significant quarterly and annual fluctuations in Intuit's net income and asset values.
• Acquisition-related charges can substantially reduce Intuit's net income, and cause significant fluctuations in net income. Under the new accounting standards relating to accounting for goodwill, Intuit's acquisition-related charges may be less predictable in any given reporting period, as it could incur less frequent, but larger, impairment charges related to goodwill.
• Integrating acquired businesses creates challenges for Intuit's operational, financial and management information systems. If Intuit is unable to adequately address these and other issues presented by acquisitions, Intuit may not fully realize the intended benefits of its acquisitions.
• Expansion of Intuit's product and service offerings requires Intuit to develop and enhance more and increasingly complex products, market and sell higher priced products and services and distribute and support an expanding portfolio of products and services. It also increases the number and complexity of Intuit's revenue models. If Intuit is unable to support its expanded businesses, they may not achieve sustainable financial viability or broad customer acceptance.
• If Intuit were required to account for options under its stock plans as a compensation expense, it would significantly reduce Intuit's financial results.
• Intuit faces competitive pressures in all of its businesses, which can have a negative impact on its revenue, profitability and market position. In the consumer tax area, some government agencies are seeking to provide tax preparation and filing services to consumers. In the small business area, Intuit is facing competition from larger companies in larger markets than it has historically faced.
• Intuit's employer services business requires Intuit to develop and manage a direct field sales organization, which is a different distribution method than Intuit has historically relied on.
• If Intuit does not provide accurate and timely services such as payroll information, cash deposits or tax return filings in its employer services businesses, Intuit faces potential liability to customers, additional expense to correct product errors and loss of customers.
• Intuit relies on third-party vendors to manufacture and distribute its primary retail desktop software products. If a vendor fails to perform, it could have severe negative consequences for Intuit's software businesses.
• Intuit faces several risks relating to its retail distribution channel, including ongoing challenges in negotiating favorable terms with retailers and the negative effect of the current economic environment. In addition, any termination or significant disruption of Intuit's relationship with any of its major resellers could result in a decline in revenue.
• If Intuit is unable to increase accountant-facilitated sales, it could have a negative impact on revenue growth.
• The long-term viability of Intuit's personal finance business depends upon its ability to provide new products and services that attract customers and that generate revenue from sources other than advertising.
• If Intuit fails to maintain reliable and responsive service levels for its electronic tax offerings, it could lose revenue and customers.
• The product activation technology that Intuit has introduced into certain TurboTax desktop products has resulted in some negative customer reactions and some negative publicity, which could adversely affect the short-term financial results for Intuit's consumer tax business.
• Revenue growth for Intuit's vertical business management solutions is subject to risks such as the negative impact of the current economic environment and the potential disruption to the businesses during the acquisition integration process.
• Intuit faces risks relating to customer privacy and security and increasing governmental regulation, which could hinder the growth of its businesses.
• Despite Intuit's efforts to adequately staff and equip its customer service and technical support operations, it cannot always respond promptly to customer requests for assistance.
• Actual product returns may exceed product return reserves, particularly for Intuit's tax preparation software.
• A continuation of the recent general decline in economic conditions could lead to significantly reduced demand for Intuit's products and services.

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