Update: H&R Block Names Susan Ehrlich as Financial Services Leader Ehrlich to Oversee H&R Block Bank, Other Financial Service Offerings

KANSAS CITY, MO, Nov 14, 2011 (MARKETWIRE via COMTEX) -- H&R Block (NYSE: HRB) announced today it has appointed Susan Ehrlich as president, financial services, effective Nov. 21. In this role she will oversee the H&R Block Bank strategy and several other financial service offerings, including the Emerald Card.

"Our financial services products are critical to our customers and our success," said Bill Cobb, H&R Block president and CEO. "Susan brings proven experience and a strong track record to H&R Block. With Susan's help, I'm confident we will continue to build our financial services business through a focus on customer needs and smart innovation."

Ehrlich most recently served as a senior vice president for JP Morgan Chase. She was originating a new role there being responsible for delivering innovative new mobile payment services. Prior to JP Morgan, Ehrlich was president of Sears Financial Services. She was named one of "American Banker" magazine's 25 Most Powerful Women in Finance each of the past three years. She also serves on the board of the Center for Financial Services Innovation -- the nation's leading authority on financial services for underbanked consumers.

"With 70 million-plus taxpayers who have little or no banking relationship, H&R Block is well-positioned to deliver broad, long-term solutions within the evolving financial services landscape," Ehrlich said. "The possibilities are very exciting for both our customers and the company."

Forward-Looking Statements

This announcement may contain forward-looking statements, which are any statements that are not historical facts. These forward-looking statements, as well as the Company's guidance, are based upon the Company's current expectations and there can be no assurance that such expectations will prove to be correct. Because forward-looking statements involve risks and uncertainties and speak only as of the date on which they are made, the Company's actual results could differ materially from these statements. These risks and uncertainties relate to, among other things, uncertainties regarding the Company's ability to attract and retain clients; meet its prepared returns targets; uncertainties and potential contingent liabilities arising from our former mortgage loan origination and servicing business; uncertainties in the residential mortgage market and its impact on loan loss provisions; uncertainties pertaining to the commercial debt market; competitive factors; the Company's effective income tax rate; litigation defense expenses and costs of judgments or settlements; uncertainties regarding the level of share repurchases; and changes in market, economic, political or regulatory conditions. Information concerning these risks and uncertainties is contained in Item 1A of the Company's 2011 annual report on Form 10-K and in other filings by the Company with the Securities and Exchange Commission. The Company does not undertake any duty to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

About H&R Block

H&R Block Inc. (NYSE: HRB) has prepared more than 575 million tax returns worldwide since 1955, making it the country's largest tax services provider. In fiscal 2011, H&R Block had annual revenues of $3.8 billion and prepared more than 24.5 million tax returns worldwide, including Canada and Australia. Tax return preparation services are provided in company-owned and franchise retail tax offices by approximately 100,000 professional tax preparers, and through H&R Block At Home(TM) digital products. The H&R Block Bank provides affordable banking products and services, and McGladrey is a top provider of tax, accounting and wealth management services to mid-sized businesses. For more information, visit the H&R Block Online Press Center.

For Further Information:

Investor Relations: Derek Drysdale, (816) 854-4513
Media: Gene King, 816-854-4287

SOURCE: H & R Block

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