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                                                                EXHIBIT 99.1
H & R BLOCK

NEWS RELEASE

For further information:

Media Relations:        Neil Getzlow, 816-932-4886
Investor Relations:     Brian Schell, 816-932-7561

H & R BLOCK COMPLETES ACQUISITION OF OLDE

FOR RELASE DECEMBER 1, 1999

        KANSAS CITY, MO. - H&R Block Inc. (NYSE:HRB) today announced it has
completed the acquisition of Olde Financial Corporation, parent of Olde
Discount Corporation, the fourth largest discount broker in the United States.
Block announced its plans September 1 to purchase all of the stock of Olde for
$850 million in cash.

        Founded in 1955, H&R Block is a diversified company with subsidiaries
providing a wide range of financial products and services.  H&R Block Tax
Services Inc. served 18.9 million taxpayers in more than 10,000 offices located
primarily in the United States, Canada, Australia and the United Kingdom in
1999.  Option One Mortgage Corporation, Assurance Mortgage Corporation of
America and H&R Block Mortgage Company offer a full range of home mortgage
products.  Through RSM McGladrey Inc. and HRB Business Services Inc., the
company has built a national accounting, tax and consulting firm.  Block
Financial Corporation develops and publishes consumer financial and personal
productivity software, such as Kiplinger TaxCut(R).  Quarterly results and
other information regarding H&R Clock are available on the company's web site
at www.hrblock.com.

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