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Exhibit 99.2
FOR IMMEDIATE RELEASE Contact:
--------------------- Connie Smith Benning
RSM McGladrey, Inc.
319-324-0447
Rudolph Palitz to Join McGladrey & Pullen, LLP
Merger Provides Clients Access to Expanded National Resources
AUGUST 2, 2000 - BLUE BELL, PA. - Rudolph Palitz, LLC has announced a
merger with McGladrey & Pullen, LLP, a Minneapolis-based, national CPA firm
serving mid-sized businesses. McGladrey & Pullen has more than 70 offices and
2000 employees in the United States and is the U.S. member of RSM International,
the eighth largest accounting organization in the world, with 550 offices in 75
countries.
"We are aligning ourselves with a national firm that closely mirrors
our philosophy of client service, which is a commitment to help our clients
succeed," said Marty Rudolph, managing partner of Rudolph Palitz. "As part of
McGladrey & Pullen, we will be able to provide clients with all of the
benefits-including expanded services and broader industry-specific
expertise--available only through a national firm."
"Combining McGladrey & Pullen and Rudolph Palitz accelerates our
strategy of building the leading national firm serving mid-sized businesses,"
said Bill Travis, managing partner of McGladrey & Pullen. "Their firm has a long
history of serving closely-held, owner-managed businesses, so our focus on
providing CPA services to middle-market companies makes our organizations very
compatible."
Rudolph Palitz is one of seven accounting firms that sold its
non-attest assets (non-CPA business) to H&R Block in 1998-99. The non-attest
company, RP Business Services, will be merging with RSM McGladrey, Inc., a
national accounting, tax, and consulting firm based in Minneapolis. RSM
McGladrey is in the process of uniting H&R Block's accounting firm subsidiaries,
which will eventually be branded under the RSM McGladrey name. Likewise, the
independent CPA practices will become part of McGladrey & Pullen.
Rudolph said the merger is effective August 1, 2000. Rudolph Palitz has
provided a full range of accounting, tax, and consulting services to individuals
and closely held businesses in the Philadelphia area since 1949.
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