Fiducial Jumps To 67th Spot In Entrepreneur Magazine’s Annual Rankings Of Top 500 Franchises

Business Model, Company Financial Strength and System Cited in Climb

COLUMBIA, MARYLAND (Monday, December 22, 2003) - Fiducial, an international provider of professional business services outsourcing and financial services to small businesses and professionals, today announced that it had climbed to 67th place in Entrepreneur magazine’s annual ranking of the top 500 U.S. franchises for 2004.

The 25th annual rankings, reported in the January edition of Entrepreneur, represented a significant achievement for the company that was ranked 349 last year.

Entrepreneur based its rankings on factors that included financial strength and stability, growth rate, size of the system, years in business, length of time franchising, start-up costs, litigation and percentage of terminations.

“Our network is filling a clear and growing market demand among small business owners who need a single place to outsource their back-office needs,” said Yves Morard-LaCroix, Executive Vice President of Fiducial. “Potential franchisees find that Fiducial is a company that is focused on creating success for members of our system by providing strong support, comprehensive training and numerous business leads.”

Potential franchisees view Fiducial as a visionary company providing a broad array of business and financial services.

Fiducial Franchise Business Advisor Tim Poulin, who helps award franchises in Texas and the Western U.S., attributed Fiducial’s success to having a clearly defined market, badly needed services and a well-defined path to market.

“We can show franchise candidates a business model and range of services that are really needed by small businesses today,” he said. “We have a clear course to transition our acquired companies and a model that can be duplicated nationwide among franchisees.”

Bob Heine, a Cincinnati-based Fiducial Franchise Business Advisor responsible for the Midwest and Eastern U.S., said Fiducial’s success parallels a trend toward executives leaving corporate America and seeking more entrepreneurial opportunities. “Fiducial offers those with the drive and desire, a moderately priced platform that lets them leverage their business experience to create something of value,” Heine said.

Fiducial recently awarded three franchises in New York, Texas and Oklahoma. Two more offices were also opened in Texas and Georgia. That momentum will carry over into the New Year, according to both Poulin and Heine. Both see the number of franchisees coming aboard in 2004 surpassing 2003’s total as the economy strengthens and entrepreneurs continue to seek the freedom and flexibility of their own businesses.

About Fiducial

Established in Europe in 1970, Fiducial is currently the ninth largest accounting firm in the U.S. and the thirteenth largest in the world. Privately held with revenues exceeding $600 million, Fiducial has over 6,500 employees worldwide serving 185,000 clients.

Fiducial entered the U.S. market in 1999 through a series of strategic acquisitions and now serves clients nationwide through a network of about 600 offices. In the United States, Fiducial's mission is to provide outsourcing services to small businesses, enabling them to grow and be profitable. Providing a one-stop shopping experience to its clients through its unique business model that combines the warm, strong contact of neighborhood professionals with the efficiency of today's technology, Fiducial offers an array of services along 8 business lines: Consulting, Accounting and Financial Reports, Payroll, Tax, Financial Management, HR, IT and Legal Services.

Led by Fiducial’s Worldwide Chairman and CEO Christian Latouche and U.S. operations' Executive Vice President Yves Morard-Lacroix, the company’s U.S. operations are headquartered in New York City and rely on its Technical and Administrative Support Center (TASC) in Columbia, MD, for support.

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