Xactware and Intuit Simplify Workflow for Remodelers

 — March 25, 2003 — 

MOUNTAIN VIEW, Calif. - Intuit Inc. (NASDAQ: INTU) today announced a relationship with Xactware, a leading provider of estimating software for the restoration and remodeling markets. As part of the relationship, Intuit® Master Builder® 2003 construction management software and two Xactware products will exchange key estimating data, enabling remodelers to improve workflow efficiencies and save time.

"Intuit's relationship with Xactware is a great example of customer-driven innovation - using technology to create solutions based on what customers want and need instead of requiring them to fit their business into a one-size-fits-all solution," said Carol Novello, vice president and general manager of Intuit Construction Business Solutions. "It's this type of combined offering that has the ability to make a significant impact on how remodelers manage their business, and enables them to focus on meeting the needs of their customers." Remodelers will be able to automatically transfer estimate information into Intuit Master Builder 2003 from the current versions of Xactimate® and Xactimate for Remodelers®. Estimating data such as jobs, take-offs, budgets and proposals initially entered into Xactimate can be accessed throughout the Master Builder system, including estimating, project management, accounting and reporting. The combination of these systems will significantly improve workflow efficiencies for remodelers and help save them time.

"Xactware has long been known as the remodeling industry leader for estimating tools, and likewise, Master Builder has a well-known history of providing outstanding accounting tools," says Xactware CEO, James Loveland. "It's the equivalent of matching the biggest engine with the most powerful transmission on a racecar. You have an immediate advantage."

In addition, as part of the agreement, users of Xactware's existing accounting module, will be able to convert accounting information to Master Builder 2003 using an automated tool that Xactware has developed. The goal of the conversion tool is a seamless transition to Intuit Master Builder 2003. The companies expect conversions to begin in early spring and continue through the end of the summer.

The combined system is designed to fit into the total workflow of the contractor. In addition to the estimating/accounting link, it can fill workflow gaps by importing front-end sales information from contact management programs such as ACT! as well as generating work orders for sub-contractors. Xactware and Intuit hope to meet the needs of a range of customers by offering a simple, flexible solution that doesn't require expensive customizations.

According to Loveland, "We've already catered the products specifically to the restoration and remodeling environments-the small business owner has the benefits of a customized solution without the high price." Novello noted, "Remodelers continue to be a key segment for Intuit and we look forward to creating more specialized solutions to serve their unique needs, as well as the needs of other industry segments."

Part of Intuit's "Right for My Business" strategy, Master Builder software is one of the company's growing roster of software solutions tailored to meet the needs of specific vertical industries through a range of business management solutions. Intuit also provides industry-specific solutions for commercial and residential property managers, durable goods wholesalers and public sector organizations.

About Intuit
Intuit Inc. (NASDAQ: INTU) is a leading provider of business and financial management solutions for small businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax® software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation software suites for professional accountants.
Founded in 1983, Intuit has annual revenue of more than $1 billion. The company has nearly 7,000 employees with major offices in 13 states across the U.S. and offices in Canada and the United Kingdom. More information can be found at www.intuit.com.

About Intuit Construction Business Solutions
Acquired by Intuit, Inc. (NASDAQ: INTU) in November 2001, as part of the company's "Right for My Business" strategy, to deliver business solutions to vertical markets, Intuit Master Builder offers contractors a complete construction business management solution. Through a nationwide network of more than 500 Solution Providers and Professional Advisors, Intuit offers expert technical support, business consulting and ongoing education and training.
Intuit and the Intuit logo, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Master Builder and Intuit Master Builder are trademarks of Intuit Inc. in the United States and other countries. Other parties' marks are the property of their respective owners and should be treated as such.

About Xactware Inc.

Founded in 1986, Xactware, Inc., is a privately held technology services company (www.Xactware.com), specializing in the property insurance, remodeling, and restoration industries. Xactware's technology tools include software estimating programs for PCs and tablet PCs as well as powerful online systems for replacement cost calculations, estimate tracking, and data trending in real time.

For more information about Xactware's products and services, contact Xactware at 1-800-424-9228 or contact us online.