KANSAS CITY, Mo.--(BUSINESS WIRE)--Feb. 23, 2006--H&R Block Inc. (NYSE: HRB).Revenues Up; Earnings Impacted by Lower Mortgage Results and Litigation Settlement Cost

-- Corporate Tax Remediation to Result in Prior-Period Restatement -- Full-Year Earnings Guidance Changed to $1.65 to $1.85 per Share

H&R Block Inc. (NYSE: HRB) today reported that revenues rose 12 percent in its fiscal third quarter to $1.2 billion from $1.0 billion in the prior-year period. Slightly lower revenues in Mortgage Services were offset by higher revenues in all other segments of the company's operations.

Net earnings were $28.8 million, or 9 cents per diluted share, for the third quarter of fiscal 2006. The quarterly results include an after-tax charge of $31.7 million, or 10 cents per share, for a previously announced proposed litigation settlement and associated legal costs. For the third quarter of 2005, net earnings were $92.3 million, or 28 cents per share, which included the benefit of a $10.1 million after-tax legal recovery representing 3 cents per share.

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