Liberty Tax Services surpasses it's own record for January growth

VIRGINIA BEACH, VA (Thursday, February 03, 2005) - Liberty Tax Service continued its fast track performance pace with a January tax volume increase of 58.6% more returns prepared than in January 2004. Same store sales posted a gain of 30.7% in tax returns prepared. There are 1442 Liberty Tax Service offices operating in all 50 states in the United States, and 293 offices in Canada in 2005. In Liberty’s eighth year, the company has reached the size it took major competitors, H&R Block (NYSE:HRB) and Jackson Hewitt (NYSE: JTX) 14 years to reach.

Liberty has surged to the forefront of a constantly evolving and technological tax industry, garnering many accolades in its climb. In January 2005, Entrepreneur magazine ranked Liberty Tax Service as #15 on its Franchise 500 overall list of best franchises, and the second best tax service. Accounting Today magazine ranked Liberty fastest growing on its list of top 100 tax & accounting companies released in March 2004. Liberty Tax Service is ranked for the second consecutive year on Inc .magazine’s 500 23 nd annual ranking of the fastest growing private companies in the United States (Fall 2004).

“Our aggressive Liberty team is driven to build our brand and ascend to prominence in this industry in record time, and we have,” said John Hewitt, CEO and Founder of Liberty Tax Service. “Now more than ever, our competition is recognizing our increasing market share, and our indefatigable quest and dedication to offer the best tax preparation experience. They are retaliating to our creative street smart marketing with similar tactics. It’s been an interesting tax season thus far, and it will be our best yet.”

Hewitt has a nationally recognized name in the tax and accounting world. He is a veteran of 35 tax seasons, the founder of two top tax preparation firms, and a former H&R Block regional director. Accounting Today magazine has named Hewitt one of the accounting profession’s top 100 most influential people for 4 consecutive years.

Liberty Tax Service started in Canada, September 1, 1997, when Hewitt acquired a Canadian tax franchisor, U&R Tax Depot. In 1998, U &R Tax Depot changed its name to Liberty Tax Service, and opened 5 offices in the United States. The company is headquartered in Virginia Beach, Virginia. Liberty’s goal is to reach 3600 offices by 2008. The Liberty Tax Service web site is www.libertytax.com

For More Infromation Please contact:
Martha O’Gorman
Vice President of Marketing
Phone: (800) 790-3863
Email: martha.ogorman@libtax.com

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