Coopers & Lybrand L.L.P. Introduces The Virtual Tax Office.

NEW YORK--(BUSINESS WIRE)--Sept. 18, 1997--A new software application is being introduced today by Coopers & Lybrand L.L.P. -- the Virtual Tax Office (VTO), designed to efficiently organize the complex volume of information handled by large corporate tax departments.

"This innovative software application encompasses an integrated set of tax information management tools that allows tax departments to work more efficiently and collaboratively. Less time spent by corporate professionals searching for information means more time that can be devoted to tax minimization strategies -- thus the Virtual Tax Office can have an impact that benefits the entire corporation," said Gerald Leener, partner in charge, National Tax Technology of Coopers & Lybrand.

In Virtual Tax Office, tax returns are kept electronically, information flow is streamlined, documents are routed instantly from preparers to reviewers, and all relevant tax information is organized in standard electronic files. Project management capabilities are built into the system to ensure that schedules and deadlines are always met. In addition, VTO can be used to facilitate the information management needs for audit reviews. A high level of security electronically secures all tax records and helps reduce storage costs. While the primary advantages of the Virtual Tax Office are increased efficiency and reduction in paperwork, it also provides a place for pertinent tax news and research information.

Virtual Tax Office includes six tax function modules: 1) Electronic Tax Workpapers; 2) Tax Knowledge Manager; 3) Audit Organizer; 4) Due Date Tracker; 5) Permanent File; and 6) Memo Manager. The capabilities provided by VTO create the basis for an advanced, paperless environment, allowing users to simultaneously access and work on shared files from many different locations.

The Virtual Tax Office was developed by Coopers & Lybrand's National Tax Technology division in Washington, D.C. For further information, please call 202/822-4444 or access the web site at www.us.coopers.com/tax/vto.

One of the world's leading professional services firms, Coopers & Lybrand L.L.P. provides services for enterprises in a wide range of industries. The firm offers its clients the expertise of more than 16,000 professionals and staff in offices located in 100 U.S. cities and, through the global network of Coopers & Lybrand International, more than 74,000 people in 142 countries worldwide. -0- If you would like to learn more about Coopers & Lybrand L.L.P., our Internet address is: http://www.us.coopers.com

CONTACT: Steve Greene

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