PRESS RELEASE DATES 5/21/98
Published on May 22, 1998
Exhibit 99.01
CONTACT: Intuit Inc.
Linda Fellows 650/944-5436 (IR)
Robert Schettino 650/596-2700 (PR)
INTUIT PRICES PUBLIC OFFERING
MOUNTAIN VIEW, CALIF.--May 21, 1998--Intuit Inc. (NASDAQ:INTU) today announced
the pricing of its public offering of 9.0 million shares of its Common Stock at
$47.375 per share, increased from the 8.4 million shares previously announced.
All of the 9.0 million shares were sold by the Company. Intuit has also granted
to the underwriters of the public offering an option to purchase up to an
additional 1.35 million shares to cover over allotments, if any. The Company
intends to use the net proceeds primarily to fund the cash purchase price of the
acquisition of Lacerte Software Corporation and a related services company, and
for general corporate purposes. Deutsche Morgan Grenfell Inc. and Morgan Stanley
Dean Witter are joint lead managers and joint book runners for the offering.
BancAmerica Robertson Stephens, BT Alex. Brown, William Blair & Co., L.L.C.,
Hambrecht & Quist LLC and NationsBanc Montgomery Securities LLC are co-managers.
A prospectus relating to the offering may be obtained from Deutsche Morgan
Grenfell Inc., at 31 West 52nd Street, 4th Floor, New York, New York 10019,
(212) 469-5600 or Morgan Stanley Dean Witter, at 1585 Broadway, New York, New
York 10036, (212) 761-6775.
Intuit Inc., a financial software and Web-based services company, develops and
markets Quicken(R), the leading personal financial software; TurboTax(R), the
best-selling tax preparation software; QuickBooks(R), the most popular small
business accounting software; and ProSeries professional tax preparation
software. Intuit's Quicken.com(TM) Web site offers a complete set of personal
financial news, information and tools, including leading investment, mortgage,
and insurance sites. Intuit's products and services enable individuals, small
businesses, and financial professionals to better manage their financial lives
and businesses.
This communication does not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such state
or jurisdiction.