Accenture Estimates Preliminary Fourth-Quarter and Full-Year Fiscal 2003
Results

-- Company Expects 2 Percent Revenue Growth for Fiscal Year 2003;
12 Percent Revenue Growth for Fourth Quarter --

NEW YORK; Sept. 17, 2003 - Accenture (NYSE: ACN) today provided a
preliminary estimate of results for the full fiscal year and fourth
quarter ended August 31, 2003.

Fiscal Year 2003

Revenues before reimbursements ("net revenues") for the full fiscal year
2003 are expected to be $11.82 billion, compared with $11.57 billion for
the full fiscal year 2002, an increase of 2 percent in U.S. dollars and
a decrease of 4 percent in local currency.

Diluted earnings per share for fiscal year 2003 are expected to be
$1.05, compared with $0.56 for fiscal year 2002. Fiscal year 2002
diluted earnings per share included a loss on investments of $321
million, or $0.28 per share, and a real estate consolidation charge of
$111 million, or $0.07 per share.

Operating income for fiscal year 2003 is expected to be approximately
$1.55 billion. Operating income as a percentage of net revenues for
fiscal year 2003 is expected to be 13.1 percent.

Accenture accrued $11 million in variable compensation for fiscal year
2003, compared with $105 million in fiscal year 2002. The company
accrues compensation expense for payments of variable compensation to be
made to its executives in later fiscal periods.

The company's estimated effective annual tax rate for fiscal year 2003
decreased from 38 percent to approximately 35.1 percent. This reduces
the expected provision for taxes by $47 million, resulting in a $0.05
benefit to diluted earnings per share for the full fiscal year. The
reduction in the tax rate was primarily due to a reversal of previously
accrued taxes in the third and fourth quarters following the favorable
settlement of certain prior-year non-U.S. income tax liabilities and
lower-than-estimated non-U.S. withholding tax requirements.

Income before minority interest for fiscal year 2003 is expected to be
approximately $1.05 billion.

Outsourcing is expected to account for approximately $3.57 billion of
net revenues for fiscal year 2003, an increase of 37 percent in U.S.
dollars and 32 percent in local currency over the full fiscal year 2002.
Consulting revenues are expected to be approximately $7.92 billion of
net revenues for fiscal year 2003, representing a decrease of 10 percent
in U.S. dollars and a decrease of 16 percent in local currency from the
full fiscal year 2002.


Net revenues for Accenture's five...