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                                                                    EXHIBIT 99.1


[H&R BLOCK LOGO]

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 RELEASE 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 Block are available on the company's web site at www.hrblock.com.

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