London (March 31, 2008) - Wolters Kluwer Law & Business today announced that it has signed an agreement to acquire from MYOB Limited the Accountants Division of MYOB UK and MYOB Ireland, a software and services provider to accountancy practices. The services will become part of Wolters Kluwer UK, one of the most respected providers of specialist products and services for the accounting, tax, and finance professions.

The combination of Wolters Kluwer UK, through its CCH Software division, and MYOB will create a significant new force in an accounting market that is increasingly demanding integrated software to increase efficiency and reduce costs.

A particular priority for practices is to ease the integration between products and practice management systems. By bringing together the strengths and expertise of CCH and MYOB, accountancy firms will be able to source from Britain and Ireland's most experienced providers of software and services, covering tax, audit and accounts production, insolvency, practice management and document management.

MYOB offers a complete range of accountancy software systems, which have historically been targeted at the top 500 accountancy practices. In 2007, these systems were integrated and targeted at the entire accountancy practice marketplace. CCH Software serves practices of all sizes and is in use within practices ranging from sole practitioners to most of the top 100.

Cathy Wolfe, CEO of Wolters Kluwer UK, said: "The acquisition brings to Wolters Kluwer UK over 130 experienced MYOB staff, many with more than 10 years of experience servicing the accountancy profession. By acquiring the excellent range of MYOB products and its talented staff, Wolters Kluwer UK will be able to accelerate its growth in the provision of professional practice software. With innovative 'best of breed' products and new capabilities in training and consulting, Wolters Kluwer UK is even better positioned to meet the ever-changing needs of all our customers."

Bob Becker, President and CEO of Wolters Kluwer Law & Business, said: "Wolters Kluwer in the UK serves several growing markets, including tax and accounting, and our CCH division here is seeing good growth. By extending our reach in accounting software and services with the MYOB UK and Ireland acquisition, we will accelerate our growth plans in Wolters Kluwer Law & Business and the continued development of our leading positions in workflow tool development."

MYOB Limited will make the sale of its UK and Ireland Accountants Division to Wolters Kluwer for £35.5 million. The UK and Ireland Accountants Division has £12.5 million 2007 annual revenues and has approximately 130 full-time equivalent employees.