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H&R Block to Cut 23 Percent of Corporate Support Jobs
KANSAS CITY, (BUSINESS WIRE), February 3, 2008 - H&R Block, Inc. (NYSE:HRB) has announced it has begun implementing a program to reduce corporate staff and overhead expenses by approximately $110 million per year.

The Company expects to incur a pre-tax charge for severance-related benefits of approximately $17 million, most of which will be incurred in its fiscal third quarter ending Jan. 31, 2008, with the remainder occurring in the quarter ending April 30, 2008. None of the positions affected by today's announcement are involved in field tax services or business services, which remain unaffected by today's announcement.

Richard C. Breeden, Chairman of H&R Block, stated: "This program is another step in our efforts to refocus the overall business of H&R Block and to tighten efficiency. This reduction in Kansas City corporate support staff reflects the downsizing of the Company as a result of our exit from the mortgage business, as well as a determined effort to attack excessive costs across the board in the rest of the Company. This is an important step on the road to sustained growth in shareholder value."

By April 30, 2008, the Company will eliminate approximately 325 filled and 180 open positions, representing approximately 23 percent of corporate support staffing. The Company expects to reduce compensation expense by approximately $50 million per year, or 12 percent of corporate support compensation and benefits costs. In addition, approximately $60 million of non-compensation overhead expenses such as consulting, travel and entertainment, will also be eliminated, representing 18 percent of such expenses.

"While these steps are painful, they are necessary to reconfigure Hamp;R Block to improve operating margins and cash flow. Creating a culture of cost discipline is vital for each of our businesses as a complement to tighter strategic focus. We believe that the result will be a stronger Company with greater ability to grow its shareholder value and its position in the market," noted Mr. Breeden. "We appreciate the loyalty and hard work of the associates who are affected by these actions."

National Survey Reveals the Majority of Renters Are Packing Up for Employment and Cheaper Apartments
KANSAS CITY, (PRNewswire, January 27, 2008 - The two key factors driving more than half (55%) of renters to move in 2008 are relocating for a job and reducing the cost of rent, according to a national survey from Apartments.com to current renters.

Almost half of renters (48%) surveyed said they are moving to another city or state.

These 2008 moving trends also collaborate with recent workplace findings that fourteen percent of employers are willing to pay to relocate new employees, from another area to their company location, this year compared with last year, according to a joint survey by CareerBuilder.com and Apartments.com. For renters planning to relocate this year, Forbes, in its 2008 report of the Best And Worst Cities For Renters, lists the following cities as the most affordable for renters:

1. Columbus, Ohio
2. Indianapolis, Ind.
3. Kansas City, Mo.
4. San Antonio, Texas
5. Cincinnati, Ohio
6. Saint Louis, Mo.
7. Cleveland, Ohio
8. Houston, Texas
9. Dallas, Texas
10. Salt Lake City, Utah

Ninety-five percent of renters surveyed plan on moving in 2008. Only seven percent are moving to buy a home, and almost all are scaling back on overall moving expenses. Seventy percent will not hire a professional moving service.

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