Private Equity Solutions

Intuit Agrees to Sell Information Technology Solutions Business

MOUNTAIN VIEW, Calif. - October 05, 2005 - Intuit Inc. (Nasdaq: INTU) today announced it has signed a definitive agreement to sell its Intuit Information Technology Solutions business, or ITS, to TA Associates for approximately $200 million in cash. Founded in 1968, TA Associates is one of the largest and most experienced private equity firms. With offices in Boston, Menlo Park, Calif. and London, the firm manages over $6 billion in capital.
Intuit announced its decision to sell ITS on May 18, 2005, and has treated it as a discontinued business for accounting purposes since the fourth quarter of its fiscal year 2005. As announced on Aug. 24, 2005, Intuit did not include past or future results from ITS when it developed its non-GAAP financial guidance for the first-quarter and fiscal year 2006. Results from ITS are included in Intuit's GAAP guidance for net income and earnings per share.

Intuit expects to realize a pre-tax net gain of approximately $40 million to $50 million on the sale. The transaction, which is subject to closing conditions, including TA obtaining financing for a portion of the purchase price, is expected to close within the next 90 days. Intuit entered the technology solutions business when it acquired Blue Ocean Software, Inc. for approximately $177 million in cash in September 2002.

About Intuit Inc.
Founded in 1983, Intuit had annual revenue of more than $2 billion in its fiscal year 2005. 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.

Intuit and the Intuit logo, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.

Cautions About Forward-Looking Statements
This press release contains forward-looking statements, including Intuit's expectations regarding the closing of the sale of the ITS business and its expected impact on Intuit's financial statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those in the forward looking statements. These factors include, without limitation, the following: the conditions to closing might not be fulfilled; the purchase agreement could be terminated by the parties in accordance with its terms; and factors such as the operations of the ITS business during the pre-closing period and final calculations of taxes could alter the actual impact of the sale on Intuit's financial statements. More details about risks that may affect Intuit's business are included in our Form 10-K for fiscal 2005 and in any subsequent SEC filings. You can locate these reports through our website at http://www.intuit.com/about_intuit/investors. Forward-looking statements are based on information as of Oct. 5, 2005, and we do not undertake any duty to update any forward looking statement or other information in this press release.

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