Wolters Kluwer Acquires Execusite

Provider of Customized Web Sites for Accounting Professionals
Will be Integral Component of CCH Destination Site Strategy

(CHICAGO, December 5, 2001) – Wolters Kluwer said today that it has acquired Execusite, Irvine, Calif., the leading provider of quality web site solutions for accounting and tax professionals. Execusite (execusite.com) will become part of CCH Tax Compliance, Torrance, Calif., and have a critical place in the further development of specialized applications for Tax.CCHGroup, the recently launched destination site created by CCH Tax Compliance, CCH U.S. Publishing and Aspen Publishers, New York City. Terms of the agreement were not disclosed.

CCH Tax Compliance and CCH U.S. Publishing have been business partners with Execusite since 2000. Accounting professionals who use Execusite to build a web site for their practice can select CCH tax news content, the CCH Tax Notebook client organizer and CompleteTax Pro consumer tax preparation software for their sites. In addition, CCH has been providing sales and marketing support for Execusite.

CCH will continue to offer Execusite web site services. However, the acquisition will allow CCH to expand its strategic role as a supportive partner in the tax and accounting professional’s practice via Tax.CCHGroup.

"Execusite is a crucial step toward new integrated applications for a customizable ‘working level’ on Tax.CCHGroup," said Nancy McKinstry, CEO, Wolters Kluwer North America. "It will become the platform for CPAs to conduct business with clients, providing customizable tools for collaboration, practice management and client communications."

"Accountants are moving beyond the typical brochure web site," said Lance McCollough, CPA, co-founder of Execusite. "Only CCH could provide the value-added content, tools and other integrated applications that will help strengthen the accountant’s role as a trusted advisor. We’re definitely going to ‘raise the bar’ on what a web site can do for both accounting professionals and their clients."

The acquisition comes at an appropriate time for CCH which, as a premier provider of web-based tax information, has been monitoring Internet adoption and use rates by accountants since 1996. According to the Accountants on the Internet 2000 Survey, conducted by Harris Interactive for CCH, accountants now routinely use the Internet for business purposes and they have a growing interest in web-based applications to support their practices.

The Survey found that in the short term, the number of accountants’ web sites were expected to increase from 30 percent to 50 percent among small firms, and to increase approximately 18 percent among big firms. A full 73 percent of those planning to build a web site said they would use the site to identify new business opportunities and sell their services. Sixty-five percent said they would use the Internet to provide customer service and 80 percent would use it to provide client contact.

The data bodes well for the strategic direction of Tax.CCHGroup. Launched in October 2001, the destination site combines the substantial resources of the CCH Federal and State Tax Group, CCH Tax Compliance and Aspen to facilitate the changing way accounting, legal and financial and estate planning professionals are working, serving their clients, generating practice revenue and managing their businesses.

About Wolters Kluwer

Wolters Kluwer is a multinational information services company with annual sales of approximately EUR 3.7 billion, employing approximately 19,000 people in Europe, North America and Asia Pacific. The company’s core activities are Legal, Tax & Business, International Health & Science and Education. The Wolters Kluwer shares are quoted on the Euronext Amsterdam.

-- ### --