Financial Astrology of H&R Block, Inc.

FINANCIAL ASTROLOGY

First Trade Date for H&R Block, Inc.

Company Name	First Trade Date (yyyy-mm-dd)
H&R Block, Inc.	1969-10-13

Company Name	Symbol
H&R Block, Inc.	HRB
History and Business of Company (this information may include date of incorporation)
H&R Block, Inc. (the "Company") is a diversified company with subsidiaries delivering tax services and financial advice, investment and mortgage products and services and business and consulting services. In fiscal year 2003, the Company's tax subsidiaries and their franchisees served 18.8 million taxpayers - more than any tax or accounting firm - through more than 10,600 offices located in the United States, Canada, Australia and the United Kingdom. Another 2.1 million clients utilized the award-winning tax software program, TaxCut(r) from H&R Block (includes federal e-filings only), or the online tax preparation service. H&R Block Mortgage Corporation and Option One Mortgage Corporation offer a full range of home mortgage products and services. RSM McGladrey Business Services, Inc. is a national accounting, tax and consulting firm primarily serving mid-sized businesses. Investment services and securities products are offered through H&R Block Financial Advisors, Inc., member NYSE, SIPC. The Company is not a registered broker-dealer. The Company is a corporation organized in 1955 under the laws of the State of Missouri. It is the parent corporation in a two-tier holding company structure with H&R Block Group, Inc., a Delaware corporation, as the second-tier holding company and the direct or indirect owner of the operating subsidiaries providing tax and financial products and services to the general public principally in the United States, but also in Canada, Australia and the United Kingdom. The Company's subsidiaries provide tax return preparation, filing and other tax-related products and services, originate, service and sell mortgages, provide investment services, offer personal productivity software, participate in refund anticipation loan products offered by a third-party lending institution (although the Company's subsidiaries did not participate in such products originated during the fiscal year 2003 tax season), and offer accounting, tax and consulting services to business clients. The H&R Block Mission is "To help our clients achieve their financial objectives by serving as their tax and financial partner." The H&R Block Vision is "To be the world's leading provider of financial services through tax and accounting based advisory relationships." Key to achieving the Company's Mission and Vision is the enhancement of client experiences with the H&R Block brand through consistent delivery of valuable services and advice. Operating through multiple lines of business allows the Company to meet the changing financial needs of all of its subsidiaries' customers. Developments during fiscal year 2003 within U.S. Tax Operations, Mortgage Services, Business Services, Investment Services and International Tax Operations are described in the section below entitled "Description of Business." On June 11, 2003, the Company's Board of Directors approved the repurchase of 20 million shares of its Common Stock, without par value. Such authorization was in addition to the 15 million-share repurchase authorization in September 2001. Approximately 1.9 million shares remained under the 2001 authorization as of the end of fiscal year 2003. The number of shares purchased under the June 2003 and September 2001 authorizations will depend upon a number of factors including the price of the stock, the ability to maintain progress toward a capital structure that will support a single A rating, availability of excess cash, the ability to maintain liquidity and financial flexibility, securities laws restrictions and other investment opportunities available. On September 11, 2002, Frank L. Salizzoni retired as Chairman of the Board of the Company and as a director of the Company. The Board of Directors on June 12, 2002 approved a reduction in the size of the Board from ten to nine directors, effective upon Mr. Salizzoni's retirement. On September 11, 2002, the Board of Directors elected Mark A. Ernst Chairman of the Board and appointed Louis W. Smith as Presiding Director of the Board of Directors. Mr. Ernst also continued as President and Chief Executive Officer of the Company. During the fiscal year ended April 30, 2003, the Company was not involved in any bankruptcy, receivership or similar proceedings or any material reclassifications, mergers or consolidations, and the Company did not acquire or dispose of any material amount of assets during such year. The information contained in this Form 10-K and the exhibits hereto may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based upon current information, expectations, estimates and projections regarding the Company, the industries and markets in which the Company operates, and management's assumptions and beliefs relating thereto. Words such as "will," "plan," "expect," "remain," "intend," "estimate," "approximate," and variations thereof and similar expressions are intended to identify such forward-looking statements. These statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such forward-looking statements. Such differences could be caused by a number of factors including, but not limited to, the uncertainty the Company will achieve or exceed its revenue, earnings, and earnings per share growth goals or expectations for fiscal year 2004 or any other fiscal year; the uncertainty actual fiscal year 2004 financial results will fall within any guidance provided by the Company; the uncertainty as to the effect on the consolidated financial statements of the adoption of accounting pronouncements; risks associated with sources of liquidity for each of the lines of business of the Company; the uncertainty of laws, legislation, regulations, supervision and licensing by federal, state and local authorities and self-regulatory organizations and their impact on any proposed or possible transactions and the lines of business in which the Company's subsidiaries are involved; unforeseen compliance costs; changes in interest rates; changes in economic, political or regulatory environments; changes in competition and the effects of such changes; changes in management and management strategies; the inability to successfully implement the Company's strategies; the Company's inability to successfully design, create, modify and operate its computer systems and networks; the uncertainty of assumptions utilized to estimate cash flows from residual interests in mortgage securitizations and mortgage servicing rights; the uncertainty of assumptions and criteria used in the testing of goodwill and long-lived assets for impairment; litigation involving the Company and its subsidiaries; the uncertainty any settlements in litigation will ultimately be approved by the courts; the inability of the Company to purchase shares of its Common Stock pursuant to its share repurchase program; and risks described from time to time in reports and registration statements filed by the Company and its subsidiaries with the Securities and Exchange Commission ("SEC"). Readers should take these factors and risks into account in evaluating any such forward-looking statements. The Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The Company itself has no employees. Its direct and indirect wholly owned subsidiaries have approximately 11,200 regular full-time employees. The highest number of persons employed by the subsidiaries during the fiscal year ended April 30, 2003, including seasonal employees, was approximately 118,300.

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