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CPA2Biz Announces Profitability and Business Growth at AICPA Fall Council Meeting

At the AICPA Fall Council Meeting, CPA2Biz Inc., the exclusive marketing and technology provider of the American Institute of Certified Public Accountants (AICPA), announced it achieved first time profitability, posting a Net Income of $150,000 for the year ending July 31, 2005. Erik Asgeirsson, CEO, CPA2Biz Inc., reviewed recent enhancements to the CPA2Biz site and noted that almost 50% of all new AICPA product orders are now placed online through www.cpa2biz.com, a significantly higher online order percentage as compared to other leading professional associations. Asgeirsson also reported on the continued growth of the AICPA Business Solutions program with over one-third of the CPA firms in the US now enrolled.

CPA2Biz also reported "a much improved balance sheet" and positive shareholders' equity due to the modification of its preferred stock and reversal of $19 million of accrued dividends. Bob Anderson, Chair of the AICPA Finance Committee, in his report, concluded that based on these improvements and the company's move to profitability, CPA2Biz is now in sound financial health.

CPA2Biz posted its third consecutive year of improving results; revenue grew by almost $1 million to $14.284 million from $13.327 million the previous year. These results were driven by strong revenue growth in new CPA2Biz business lines and a reduction in depreciation expense. CPA2Biz also reported that it ended the year cash flow positive with a cash balance of $3.5 million. Cerami.

CPA2Biz is a subsidiary of the American Institute of Certified Public Accountants (AICPA), and provides marketing and technology services to the AICPA for its wide array of products and services, such as continuing education, conferences and professional literature. CPA2Biz also develops and manages client-focused business solutions programs (e.g. payroll, banking) that enable CPAs to build stronger relationships with their business clients or employers. For more information, visit www.cpa2biz.com.

The American Institute of Certified Public Accountants is the national, professional association of CPAs, with approximately 330,000 members, including CPAs in business and industry, public practice, government, and education. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies; federal, state and local governments; and non-profit organizations. It also develops and grades the Uniform CPA Examination.

Media Contact for CPA2Biz:
Pamela Johnston
Public Relations Representative
PJ, Inc
(212) 629-8445 Pamela@pjinc.net