Thomson Acquires Tax Partners(R), LLC

NEW YORK, March 1 /PRNewswire-FirstCall/ -- The Thomson Corporation Toronto, today announced it has acquired Tax Partners(R), LLC (http://www.taxpartners.com/ ), the nation's largest sales and use tax compliance service firm. Tax Partners will join the RIA Compliance business of Thomson Tax & Accounting, which provides industry leading software and information solutions and services to tax professionals in accounting firms and corporations. Terms of the acquisition were not disclosed.

"Adding Tax Partners to our offerings will provide Thomson Tax & Accounting with an important tax compliance service component, enabling us to offer an end-to-end solution to our clients," said Brian Peccarelli, EVP Thomson Tax & Accounting Corporate Markets and general manager of RIA Compliance. "For the first time from one provider, tax professionals can choose from a full range of sales and use tax solutions, from automated tax determination and return processing to complete outsourcing of their sales and use compliance function."

Tax Partners uses proprietary technology and its engineered processes to provide clients with a safe, stable and cost effective state and local tax compliance solution. Hundreds of companies have trusted Tax Partners to handle their sales and use tax compliance because of its robust technology and proven process. In 2004, Tax Partners filed more than 540,000 tax returns and remitted $7.5 billion in taxes for its clients.

"Since its founding, Tax Partners has been focused on providing its clients with the finest, most robust sales and use tax compliance service available," noted John Richie, CEO of Tax Partners. "Thomson's addition of Tax Partners' service to its impressive product line has created an unparalleled combination of the finest information, software and service offerings for the sales and use tax marketplace. This is a big win for America's tax departments."

About The Thomson Corporation, Thomson Tax & Accounting and RIA

The Thomson Corporation (http://www.thomson.com/ ), with 2004 revenues from continuing operations of $8.10 billion, is a global leader in providing integrated information solutions to business and professional customers. Thomson provides value-added information, software tools and applications to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. With operational headquarters in Stamford, Conn., Thomson has approximately 38,000 employees and provides services in approximately 130 countries. The Corporation's common shares are listed on the New York and Toronto stock exchanges.

Thomson Tax & Accounting, as part of Thomson, is a leading provider of technology and integrated information solutions to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Thomson Tax & Accounting includes the Creative Solutions, Fast-Tax, PPC, RIA Compliance and RIA Information/Online businesses.

As part of Thomson Tax & Accounting, RIA (http://www.ria.thomson.com/ and http://www.insource.thomson.com/ ) is the premier provider of technology and information to tax professionals in accounting firms and corporations, providing the industry-leading tax compliance software for even the most complex requirements and the most comprehensive and innovative tax research and information products available.

About Tax Partners

Tax Partners (http://www.taxpartners.com/ ) is the largest sales and use tax compliance service provider in the United States. The firm uses proprietary technology and its engineered processes to provide clients with a safe, stable and cost effective state and local tax compliance solution. Serving hundreds of clients, Tax Partners provides sales tax compliance outsourcing services across multiple market segments, processing more than 540,000 tax returns and remitting over $7.5 billion in annual tax liabilities.