LIBERTY TAX SERVICE IS ONE OF VIRGINIA’S “FANTASTIC 50” FASTEST GROWING COMPANIES

May 2, 2005 (Virginia Beach, VA) The Virginia Chamber of Commerce named Liberty Tax Service on its annual “Fantastic 50” list of the state’s fastest growing companies during an awards banquet in Chantilly, Virginia Thursday, April 28th. The competition was based on four-year total growth rates of Virginia companies from 2000 through 2003. During this time period, Liberty’s revenues soared from $4,982,767 to $26,584,061.

“It is an honor to be named for the second consecutive year as one of our state’s fastest growing companies,” said John Hewitt, CEO and Founder of Liberty Tax Service. Hewitt founded Liberty Tax Service in 1997 after purchasing a Canadian tax franchise. The company is headquartered in Virginia Beach, Virginia. Liberty Tax Service is the fastest growing tax franchise ever, with over 1700 offices in operation in 2005. In the 36 years that John Hewitt has been involved in the income tax preparation industry, he has personally helped over 2000 franchisees realize the rewards of self-employment and become part of the tax industry by opening their own franchises.

Liberty Tax Service provides free tax advice and free checking of self-prepared returns at each office. In January 2005, Entrepreneur magazine ranked Liberty Tax Service as #15 on its Franchise 500 overall list of best franchises. Accounting Today magazine ranked Liberty fastest growing on its list of top 100 tax & accounting companies released in March 2005. Liberty Tax Service is ranked for the second consecutive year on Inc. magazine’s 500 annual ranking of the fastest growing private companies in the United States (Fall 2004). The Liberty Tax Service web site is www.libertytax.com.

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