America Online and Intuit Announce Major Multi-Million Dollar Content and Commerce Agreement

February 17, 1998

Dulles, VA and MOUNTAIN VIEW, CALIF, February 17, 1998 -- America Online, Inc. [NYSE: AOL], the world's leading Internet online service, and Intuit Inc. (NASDAQ: INTU), the world leader in financial software and Web-based services, today announced a new alliance that will make Intuit the primary source of original programming for the Personal Finance Web Channel on AOL.COM, the most visited consumer site in cyberspace. The exclusive agreement for AOL.COM marks the first time that one party will provide AOL with almost all of the content for a major programming category. Intuit will offer much of the popular financial content found on its popular Website,, on the Personal Finance Web Channel on AOL.COM, allowing AOL.COM to offer both AOL and Web users easy and convenient access to the comprehensive financial tools, content and programming found at Under the agreement, Intuit will also be a major anchor tenant in the Personal Finance and WorkPlace Channels, making it the primary source of financial programming on the Tax, Insurance and upcoming Mortgage areas of those Channels on the AOL service. As a result, AOL's more than 11 million members will have easy access to the popular financial resources, expert advice and interactive tools found at In addition, AOL will become the primary online service provider promoted on all Intuit software. Over the three-year term of the agreement Intuit guarantees payments to AOL totaling $30 million, with approximately $16 million paid upon signing. AOL will also be eligible for a share of revenues generated through the Intuit offerings once certain revenue thresholds specified in the agreement have been met. This relationship reinforces AOL's commitment to providing both AOL and AOL.COM users access to first-rate financial information and products, in a simple, easy to use format. Now, AOL members will be able to enjoy the best of's content and services through the popular Personal Finance and WorkPlace Channels, and AOL.COM users will have access to comprehensive, convenient financial programming. "Intuit is a clear leader in developing original personal finance content, as well as tax and financial software, for both the desktop and the Web," said Bob Pittman, President and COO of America Online, Inc. "We are pleased to have Intuit as a key partner for both AOL and AOL.COM, and as we begin to integrate the Intuit offerings in the next few weeks, we believe our members will really benefit from the top-quality financial information and services that they can find, use and understand quickly and easily." "Teaming up with AOL extends the reach of Intuit's Web offerings including personal finance, tax and also upcoming small business solutions, and makes our award-winning financial resources and interactive tools, easily and quickly available to an even wider audience," said Bill Campbell, President and CEO of Intuit. "This relationship allies Intuit with one of the premier Internet brands in a way that serves the best interests of consumers and also financial service providers." Barry Schuler, President, AOL Interactive Services, added, "As our members continue to play more active roles in managing and planning their financial futures, AOL is working hard to provide them with the best information and tools available to meet their needs. Preparing taxes and calculating mortgage and insurance can be daunting chores, but this new partnership with Intuit ensures that these tasks are now much easier through AOL than in the offline world." "Intuit's mission is focused on providing the finest financial products, services, tools and information to consumers and small businesses. The Internet enables us to better help people save time, save money, and make the best financial decisions," said Bill Harris, Executive Vice President of Intuit. "This partnership with AOL brings the best financial content to the leading consumer Internet site, providing big wins for our end-users and access to millions of online customers for our financial institution partners." AOL's Personal Finance Channel is one of the most popular and rapidly growing areas on the online service, and is the leading financial destination in cyberspace. It provides 60 million stock quotes per day, maintains over six million active investment portfolios, generates over 13 million financial graphs per month for AOL users. An average of 630,000 users access the Quotes & Portfolios area each trading day - with that number growing by an average of 10,000 new users of the area each day. The Channel also offers access to financial information from popular sources such as Business Week, Hoovers, Disclosure, Morningstar, Reuters, Investors Business Daily, The Motley Fool and Sage. The Personal Finance Channel enables members to research and trade stocks and mutual funds, conduct their online banking, get the most up-to-date business and market news, access detailed financial data, and chat with other members about market trends and financial information. The Tax and Insurance areas of the AOL Personal Finance Channel also feature IRS documents and information, IRA and retirement planning, insurance calculators and links to major insurance providers, and general personal finance information. AOL's upcoming Mortgage area will include current mortgage quotes, home financing tips and information, as well as other general real estate content.

Contact Info: