Liberty Tax Service Releases Preliminary Tax Season Results

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Solid, Sustainable Growth Demonstrated

Liberty Tax Service today reported a 20% growth in number of tax returns prepared for fiscal year 2007. The increase is represented by over 1 million tax returns in the United States, and combined with the Canadian operation, over 1.3 million total returns. The million return milestone comes as the company prepares to celebrate its ten year anniversary. In addition to the growth in number of returns, Liberty Tax Service also posted a 12% growth in fees and a 35% growth in revenue. Other nationally branded competitors, H&R Block (NYSE:HRB) and Jackson Hewitt (NYSE:JTX), took 13 and 15 years respectively to reach the size that Liberty Tax Service is today.

"Our results speak for themselves," according to John T. Hewitt, Founder and CEO of Liberty Tax Service. "Our Company has demonstrated solid and sustainable growth over the last ten years. We now have over 2400 offices in the United States and Canada, each year we add 300-500 new locations, we continue to bring in qualified franchisees to service our customers, and our numbers validate our system of doing business. I am pleased with this tax season," stated Hewitt.

Liberty Tax Service will release entire fiscal year results in early July. The Company operates on a May-April fiscal calendar.

About Liberty Tax Service
Founded in 1997, Liberty Tax Service is the fastest growing retail tax preparation company in the industry's history. Founder and CEO John T. Hewitt has 38 years of tax industry experience, the most of any CEO in the tax preparation business. Hewitt is also the founder of Jackson Hewitt Tax Service (NYSE: JTX). Liberty Tax Service (http://www.libertytax.com) operates 2,400 offices throughout the United States and Canada, and has prepared over 5,000,000 individual income tax returns. Emphasis on customer service including audit assistance, a money back guarantee and free tax return checking are just a few of the above and beyond features offered by Liberty Tax Service.

CONTACT:
Martha O'Gorman
Liberty Tax VP of Marketing
(800) 790-3863 ext. 8022

1716 Corporate Landing Parkway Virginia Beach, VA 23454
(800) 790-3863 · (757) 493-8855 · FAX: (757) 493-0169

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Martha O’Gorman
Liberty Tax
800-790-3863 +8022
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