Jackson Hewitt Reports Preparation of More Than 2.5 Million Tax Returns for Tax Season 2002

Jackson Hewitt Inc., a subsidiary of Cendant Corporation, announced another record year of performance. Recently announced tax law changes, coupled with strong marketing and franchisee performance, buoyed the company to realize a record of more than 2.5 million tax returns prepared, an increase of over 310,000 returns, at its more than 3,800 franchised and company-owned Jackson Hewitt Tax Service® locations for Tax Season 2002. The company also celebrated its best April business ever, which included an outstanding increase of over 50% fr tax returns prepared during the last three-day period of the tax season.

"We're thrilled that Jackson Hewitt customers continue to find value in the personal service our location owners, managers and employees bring them," said Mike Lister, president and COO, Jackson Hewitt Inc. "This year we once again provided customers with product and service options, including our Gold Guarantee and Cash Card. Coupled with our early- and late-season marketing and advertising vehicles, we clearly see that our offerings were well received and helped to attract double-digit growth in new and prior year customers to our locations."

Strong franchisee expansion by existing franchisees, as well as an influx of independent tax preparation businesses converting to Jackson Hewitt, helped to increase the number of locations by 15% i Tax season 2002 compared to Tax Season 2001. This increase brought the addition of 500 more locations, resulting in more than 3800 Jackson Hewitt Tax Service locations nationwide during Tax Season 2002. Jackson Hewitt locations consist of free-standing storefronts, as well as locations inside nearly 900 retail locations, including Wal-Mart and Kmart. Finding continued success from its longtime commitment to partnering with retailers, Jackson Hewitt Tax Service locations in Wal-Mart and Kmart stores, as well those located in select Simon Malls, realized a 42% gowth in revenue for Tax Season 2002 vs. Tax Season 2001.

Jackson Hewitt Inc. is the fastest growing national tax preparation company and is currently the nation's second largest company in this category. With more than 3,800 locations in 47 states and the District of Columbia during Tax Season 2002, the company provides full service, individual federal and state income tax preparation through its proprietary computerized software system. Approximately 95 percent of all income tax returns filed through Jackson Hewitt locations are electronically filed (IRS e-file). Most Jackson Hewitt offices are independently owned and operated, and offer customers related tax preparation services such as Accelerated Check Refunds, Assisted Direct Deposit of refund checks, Refund Anticipation Loans and free electronic filing with paid tax preparation.