Jackson Hewitt Tax Service holds Annual Meeting

Business Wire, March 8, 1996

VIRGINIA BEACH, Va.--(BUSINESS WIRE)--March 8, 1996--The annual meeting for Jackson Hewitt Inc. (NASDAQ/NMS: JTAX) was held yesterday in Virginia Beach, Va. John T. Hewitt, President and CEO of Jackson Hewitt, announced the tax service's mid-season results for the 1996 tax season.

Hewitt stated that the company has processed over 515,000 returns to date, representing a 12% increase, or 55,000 more returns processed that last year this time. Hewitt said this year's systemwide revenues have increased $12 million over the comparable period of 1995 and reflect a 32% increase from last year. An 18% increase in net fees was also announced.

"After experiencing a particularly challenging year in fiscal 1995," Hewitt said, "we are certainly encouraged by this year's results to date."

Jackson Hewitt Tax Service is the nation's second largest tax preparation company with over 1,300 locations across the country. Specializing in computerized tax preparation, free advice and free electronic filing with paid preparation are available at each location.

CONTACT: Jackson Hewitt Tax Service, Virginia Beach

Martha O'Gorman, Dir. of Communications, 804/473-3300