ADP and AccountingNet join forces to serve the accounting community

Business Wire, March 18, 1997

ROSELAND, N.J.--(BUSINESS WIRE)--March 18, 1997--Automatic Data Processing Inc. (ADP(R)), the world's largest provider of full-service payroll, benefits and human resource solutions for the small and emerging business community, and AccountingNet(TM) (www.accountingnet.com), the leading developer of tools and resources for accountants on the Internet, announced today their strategic alliance to create and distribute a series of innovative productivity tools and resources for the accounting community.

The formal announcement and roll-out strategy was presented at a special ADP sales and marketing conference held recently.

According to spokespeople from both companies, this new alliance provides a preferred channel through which accountants can access information essential to their business. As part of the program, ADP's 2000 sales associates will introduce accountants to a new series of communications, news, research and marketing tools developed by AccountingNet.

"ADP appreciates accountants' key role in the small and emerging business community and we are committed to delivering productivity and business development tools to enhance our partnership with the accounting community," said Bud Angelus, ADP president of the General Services Division. "AccountingNet is a great example. They provide a nucleus of information and resources that accountants can use to enhance productivity and build their practice."

As part of this new alliance, ADP is sponsoring exclusive access to several new AccountingNet features. While certain features of the AccountingNet network are currently available on the Internet, a series of these new resources will be made accessible to accountants only through a dedicated relationship with their ADP representative.

"We have been looking for a partner who was truly committed to serving the accounting community," commented Derek Doke, AccountingNet president and co-founder. "ADP is that partner. They've really stepped up to provide a new level of value to accountants."

The alliance's first product is called the "Preferred Accountant Internet Starter Kit." This starter kit will be distributed through ADP's sales force beginning early April, and offers preferred access to online tools and resources by AccountingNet. This package also features a discounted turn-key Internet service account through GlobalCenter's national Internet backbone. Accountants already on the Internet can also take advantage of these tools.

"We know accountants are getting online and using the Internet in record numbers," said Angelus. "ADP and AccountingNet are helping to facilitate that growth with programs tailored specifically to the accountant's needs."

Studies conducted by CCH Incorporated (7/22/96) showed that approximately 31% of all accountants were using the Internet for business purposes, and projected that as many as 70% would be online in 1997.

About ADP

ADP (www.adp.com) provides computerized transaction processing, data communications, software, and information services to more than 375,000 clients worldwide in virtually every business and industry. The company, founded in 1949, has more than $3.5 billion in annual revenues. Employer Services, its oldest and largest business, offers a comprehensive range of HR, payroll, payroll tax deposit and reporting, benefits and other services.

In addition, ADP provides market data, securities transaction processing and investor communications services to the brokerage and financial communities, industry-specific computing and consulting services to auto and truck dealers and computerized automated auto repair estimating and auto parts availability services to the auto repair industry.

About AccountingNet

AccountingNet, commonly referred to as the "Yahoo of the Accounting Industry," is a vertical market search engine that organizes accounting-related information found on the Internet's World Wide Web. Their system currently indexes more than 5,000 relevant links and houses over 250,000 unique pages of accounting-related information. AccountingNet is well known for developing tools and applications used by more than 30 state CPA societies. They also build custom Web sites for CPA firms and private associations.

Online since December 1995, AccountingNet's web site, (www.accountingnet.com) offer a broad base of free resources for the accounting industry, including: CPA Link, the "Yellow Pages of Accounting" with more than 100,000 CPA listings searchable by geographic location and professional areas of expertise; a national database of accounting-related jobs and resumes; links to resources for the 50 state CPA societies; a news desk focused on delivering the latest industry-specific news, and links to products and services targeted at "Today's CPA." -0- ADP is a registered trademark of Automatic Data Processing Inc. AccountingNet is a trademark of AccountingNet L.L.C.

CONTACT: ADP

Brady Locher, 201/994-5687

brady-locher@es.adp.com

or

AccountingNet

Shane Gillispie, 206/441-8285 ext. 204