Riverwoods, ILL. (September 4, 2006) - CCH, a Wolters Kluwer business and part of the Wolters Kluwer Tax, Accounting & Legal division, today announced that it has signed an agreement to acquire the stock of TaxWise Corporation. TaxWise and its subsidiary, Universal Tax Systems, Inc. (UTS), headquartered in Rome, Ga., provide tax and accounting software solutions to more than 9,300 CPAs, accounting professionals, enrolled agents and tax preparers across the U.S. CCH is a leading provider of tax and accounting law information, software and services (CCHGroup.com).

The acquisition will enhance CCH's ability to meet a wider range of professionals' needs across market segments and will further advance CCH as the professionals' first choice for premier tax and accounting solutions.

TaxWise serves the small- to mid-size tax and accounting markets with tax compliance software, efiling services, bank products and training, primarily marketed under the TaxWise® brand. CCH will maintain the TaxWise product offerings as a separate business line.

"This acquisition will represent a significant strategic opportunity for CCH to further grow its small- and mid-market position with established tax preparation software and bank product lines," said CCH President and CEO, Kevin Robert. "We're very excited about the plans to bring TaxWise products into CCH's portfolio of market-leading research and software solutions, and to serve as a strategic partner to an even broader range of professionals in this market."

With the August acquisition of ATX/Kleinrock, a provider of tax preparation, accounting and tax research software solutions, CCH announced its commitment to serve the small- to mid-size markets with an expanded suite of solutions. The plan to acquire TaxWise further demonstrates CCH's commitment to serve these professionals with an even wider range of products and services designed for their specific requirements.

"CCH has long been a leader in the tax and accounting market and TaxWise customers will be well served by CCH as it focuses on providing a full suite of market-leading solutions for professionals in the small- and mid-size market," said Bill Anderson, TaxWise CEO.

TaxWise has 300 full-time employees and annual revenues of approximately $53 million.

Closing of the acquisition is subject to a number of customary conditions, including satisfaction of all regulatory requirements. Terms of the acquisition were not disclosed.