Operation HOPE Will Work with the Clinton Foundation, ACORN and Leading Financial Services Companies in Effort to Help Hurricane Katrina Survivors Take Advantage of EITC.

NEW YORK -- Former President Bill Clinton was joined by Operation HOPE Founder and CEO John Bryant, and corporate leaders today to announce the Clinton Foundation's Earned Income Tax Credit (EITC) Initiative, which will work with leading financial services companies to support Operation HOPE's Project Restore HOPE and the ACORN Institute's (ACORN) Katrina Benefits Access Project.

"Can you imagine working all week and instead of cashing your paycheck, you rip it up?" President Clinton said at the announcement. "If you earn under $35,000 a year and you're not claiming your Earned Income Tax Credit, then you're doing just that -- throwing away your hard earned money. The main idea of EITC is still the old idea of the American Dream, that if you work hard and play by the rules, you ought to have a decent life, and a chance for your children to have a better one. I hope this Initiative helps more Americans achieve their dreams and reaches those Americans whose lives were shattered by last year's Hurricanes."

Through its work with Operation HOPE, the Clinton Foundation will support Project Restore HOPE in which Operation HOPE will incorporate EITC outreach and free tax filing services into Project Restore HOPE, a comprehensive economic counseling and financial case management service helping Hurricane Katrina victims to address issues such as credit management, deferring mortgage payments, obtaining copies of destroyed financial records and insurance claim assistance. The Clinton Foundation will also support the hiring of two full-time case workers to provide services to 200 families in the Forest Heights community of Gulfport, Mississippi, where President Clinton visited in October 2005. Various private sector groups are also involved in this effort to mobilize support and President Clinton announced some of these commitments today. President Clinton has asked Clinton Foundation staff and interns to volunteer with local EITC programs in Boston, Massachusetts; Little Rock, Arkansas; and New York, New York, where the Clinton Foundation offices are located.

"At Operation HOPE our goal is to help the devastated citizens of the Gulf Coast get stabilized and back on their feet financially, and this EITC awareness program is a monumental step toward that," said John Bryant, chairman and CEO of Operation HOPE. "I am deeply grateful to the Clinton Foundation, ACORN, and the financial services firms who have stepped up today to be a part of this initiative, and I challenge others out there to help us see through the economic recovery of the poor and underserved victims of disaster in America. We have 1,000 volunteers committed now; we need at least 4,000 more."

Several representatives from the corporate community attended the announcement and committed resources to the effort. Companies such as Deutsche Bank, E*TRADE FINANCIAL, The First American Corporation, Microsoft and H&R Block have committed more than 1,500 volunteers with a financial background to Project Restore HOPE. In addition to volunteers, H&R Block is providing free tax preparation and EITC filing to 5,000 Project Restore HOPE clients and unlimited free EITC filing and free IRA and savings accounts for clients as well. The New York Bankers Association will encourage its members, which include 13 of the top 30 commercial banks in the nation, as well as regional banks and over 100 community banks to commit volunteers.

"Deeply concerned by the personal turmoil that has resulted from the devastation wrought by hurricanes Katrina, Rita and Wilma, E*TRADE FINANCIAL has committed monetary and human resources to help these citizens regain their dignity and their lives," said Arlen Gelbard, Chief Administrative Officer, E*TRADE FINANCIAL Corporation. "Today with President Clinton and John Bryant, we renew our pledge to rally E*TRADE employee volunteers to provide financial counseling, including information about and access to the earned income tax credit. I am pleased to report that E*TRADE FINANCIAL has recruited -- and Operation HOPE has trained -- close to 100 employee volunteers who are delivering these services to those affected by the hurricanes."

Microsoft has also deployed a custom economic case management system enabling volunteers to serve clients remotely. "As the region rebuilds from the incredible devastation across the Gulf Coast, programs like the Clinton-HOPE Partnership will be vital to millions of affected families," said Microsoft U.S. Public Sector Vice President Linda Zecher. "It is Microsoft's pledge to provide those impacted by the Katrina disaster with whatever assistance we can offer and this technology donation will help direct them on the next step toward renewed hope. We're proud to stand together in support of the Clinton-HOPE Partnership."

ACORN's Katrina Benefits Access Project will provide EITC screening and free tax preparation services to victims of Hurricane Katrina. This grassroots outreach campaign will target the hotels, apartment complexes, FEMA relief sites, disaster assistance centers and others places where survivors are living. Mobile units will provide on-the-spot tax EITC screening and free tax preparation services. The mobile units and ACORN's free tax preparation sites will also help Katrina survivors access all of the federal and state benefits programs for which they qualify. The program will operate in ten cities directly affected by Hurricane Katrina or with large numbers of Katrina survivors: Birmingham, AL; Little Rock, AR; Atlanta, GA; Baton Rouge, LA; Lake Charles, LA; New Orleans, LA; Jackson, MS; Dallas, TX; Houston, TX; and San Antonio, TX.

For more information about the Clinton Foundation's EITC Initiative visit http://clintonfoundation.kintera.org/eitc.

For more about Operation HOPE and Project Restore HOPE visit www.operationhope.org.