Chicago, July 18, 2005 – The Center for Financial Services Innovation (CFSI) today released its study of H&R Block’s ground-breaking strategy to better penetrate its existing LMI customer base, “Utilizing Partnerships to Test Emerging Market Strategies: A Case Study of H&R Block Initiatives in Five Cities,” available at Utilizing Partnerships to Test Emerging Market Strategies: A Case Study of H&R Block Initiatives in Five Cities.

Block built partnerships in five cities – New York, Los Angeles, Miami, San Francisco and Tulsa -- sometimes directly with the city, sometimes in conjunction with local non-profit groups, to provide a broader array of services to a larger pool of customers than would have been possible otherwise. The study examines the initial phase of these ventures from business plan through negotiation to execution, and provides a framework for other companies seeking fresh methods to reach underbanked consumers. The Center chose to study the initiative because unconventional partnerships hold tremendous promise in acquiring and serving the underbanked across the financial services spectrum.

For more on CFSI, go to www.cfsinnovation.com.