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Intuit Acquires Technology from Teknowledge Corp.
MOUNTAIN VIEW, Calif., - August 22, 2005 - Intuit Inc. (Nasdaq: INTU) today announced it has acquired the TekPortal® data aggregation technology from Teknowledge Corp. (Nasdaq SmallCap: TEKCC).

The technology is expected to provide Intuit with strategic software for enhancing current and future offerings for small businesses and consumers. In addition, Intuit plans to continue Teknowledge's focus on developing and licensing TekPortal technology to financial institutions.

Teknowledge, headquartered in Palo Alto, Calif., develops software products and delivers integration services for a variety of government agencies as well as for financial services and technology companies. Its TekPortal solution provides financial institutions the ability to collect and make available customers' financial data from a variety of sources. It also supports a range of other key functions, including online account opening and authentication services.

Intuit has paid approximately $7 million in cash for Teknowledge's technology. The transaction closed earlier today.
 
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small- and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax® software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation software suites for professional accountants.

Founded in 1983, Intuit had annual revenue of nearly $1.9 billion in its fiscal year 2004. The company has nearly 7,000 employees, with major offices in 13 states across the United States and offices in Canada and the United Kingdom. More information can be found at www.intuit.com.
 
Cautions About Forward-Looking Statements
This press release contains forward-looking statements, including expectations relating to our acquisition of assets from Teknowledge Corporation and expected synergies. A number of risks and uncertainties may cause actual results to differ materially from our expressed expectations. Some of the important factors that could cause our results to differ include the following: our failure to (1) successfully integrate Teknowledge assets and employees into our business and achieve expected synergies, (2) retain key employees, and (3) develop and license TekPortal technology to financial institutions. More details about these and other risks that may impact our business are included in our Form 10-K for fiscal 2004 and in subsequent Forms 10-Q, and other SEC filings. You can locate these reports through our website at http://www.intuit.com/about_intuit/investors. We do not undertake any duty to update the information in this press release except as otherwise required by law.
 
Intuit and the Intuit logo are registered trademarks of Intuit Inc. in the United States and other countries.
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