Roxanne Taylor
New York
+1 (917) 452 5106

June 29, 2006
Accenture Reports Strong Third-Quarter Fiscal 2006 Financial Results, With Record Quarterly Revenues

Net revenues increase 11% in local currency; Adjusted EPS up 32% and adjusted operating income up 19%

NEW YORK; June 29, 2006 — Accenture (NYSE: ACN) today reported strong financial results for the third quarter of fiscal 2006, ended May 31, with net revenues of $4.41 billion, an increase of 11 percent in local currency over the same period last year, and GAAP diluted earnings per share of $0.56, which include a $0.06 benefit from a $58 million reduction in reorganization liabilities. EPS increased 10 percent on a GAAP basis and 32 percent on an adjusted basis over the third quarter last year.

The company achieved the highest quarterly net revenues in its history, driven by record net revenues in all five operating groups and all three geographic regions. Consulting and outsourcing net revenues were also the highest in any quarter.

In addition to achieving double-digit increases in both its top and bottom lines, the company grew operating income by 3 percent on a GAAP basis and 19 percent on an adjusted basis and expanded its operating margin by 120 basis points, to 14.3 percent. The company also maintained its strong balance sheet and cash flow.

William D. Green, Accenture’s CEO, said, “Our performance in the third quarter demonstrates the overall strength and momentum of our business. We grew revenues across every dimension of our company. We increased operating income, expanded operating margin and reduced SG&A as a percentage of revenues. New bookings of $5.57 billion were the highest in nine quarters. Our balance sheet remains strong, and we generated $746 million in free cash flow. Overall, we are well-positioned for further growth and remain focused on delivering value to our clients and shareholders.”

Financial Review

As previously reported, Accenture began expensing stock options and employee stock purchase plans on Sept. 1, 2005, in accordance with SFAS 123R. Therefore, in addition to providing year-over-year GAAP comparisons, the company is presenting results for the third quarter of fiscal 2005 on an options-adjusted basis to provide meaningful comparisons on relevant metrics.

Revenues before reimbursements (“net revenues”) for the third quarter of fiscal 2006 were $4.41 billion, compared with $4.08 billion for the third quarter of fiscal 2005, an increase of 11 percent in local currency and 8 percent in U.S. dollars. Net revenues were the highest of any quarter in the company’s history, driven by record net revenues in all five operating groups and all three geographic regions.

GAAP diluted EPS for the third quarter of fiscal 2006 were $0.56, compared with $0.51, or $0.46 on an options-adjusted basis, for the third quarter last year. After adjusting for the $0.06 reorganization benefit, EPS for the third quarter of fiscal 2006 were $0.50, compared with $0.38 in the third quarter last year on an options-adjusted basis and excluding an $0.08 benefit from a $73 million reduction in reorganization liabilities in that quarter. Reorganization liabilities were established in connection with the company’s transition to a corporate structure in 2001.

 Diluted Earnings Per Share For the Three Months Ended

May 31,
2006
May 31,
2005
% Change
Earnings per share — as reported (GAAP) $0.56 $0.51 10%
Pro forma stock option and employee share purchase plan compensation expense, net of tax -- (0.05)
Subtotal $0.56 $0.46 22%
Reorganization benefit (0.06) (0.08)
Earnings per share — as adjusted $0.50 $0.38 32%

GAAP operating income for the third quarter of fiscal 2006 was $690 million, or 15.7 percent of net revenues, compared with $672 million, or 16.5 percent of net revenues, for the third quarter last year, and $606 million, or 14.9 percent of net revenues, on an options-adjusted basis for the third quarter last year. Excluding the $58 million reorganization benefit, operating income for the third quarter of fiscal 2006 was $632 million, or 14.3 percent of net revenues, compared with third-quarter fiscal 2005 operating income of $533 million, or 13.1 percent of net revenues, on a reorganization- and options-adjusted basis. This represents a 19 percent increase in operating income and a margin expansion of 120 basis points.

Gross margin (gross profit as a percentage of net revenues) for the third quarter of fiscal 2006 was 33.0 percent, compared with 33.0 percent on an options-adjusted basis, or 34.6 percent on a GAAP basis, for the third quarter of fiscal 2005.

Selling, general and administrative expenses in the third quarter of fiscal 2006 were $816 million, or 18.5 percent of net revenues, compared with $804 million, or 19.7 percent of net revenues, in the third quarter last year on a GAAP basis and $808 million, or 19.8 percent of net revenues, on an options-adjusted basis.

The company’s effective tax rate for the third quarter of fiscal 2006 was 29.9 percent, compared with 29.4 percent for the same period last year. The 29.9 percent effective tax rate for the third quarter of fiscal 2006 reflects the effect of the reduction in the year-to-date tax rate from 37.0 percent to 33.4 percent, primarily as a result of final determinations of reorganization liabilities and prior-year tax liabilities during the quarter. Final determinations include final agreements with tax authorities and expiration of statutes of limitations.

GAAP income before minority interest was $499 million in the third quarter of fiscal 2006, compared with $486 million in the same period of fiscal 2005 and $440 million on an options-adjusted basis for the same period of fiscal 2005.

For the three months ended May 31, 2006, operating cash flow was $806 million, and property and equipment additions were $60 million. Free cash flow, defined as operating cash flow net of property and equipment additions, for the third quarter of 2006 was $746 million.

Accenture’s total cash balance at May 31, 2006 was $2.79 billion, compared with $2.48 billion at Aug. 31, 2005. Cash combined with $324 million of fixed-income securities classified as investments on the company’s balance sheet was $3.12 billion at May 31, 2006, compared with $3.18 billion at Aug. 31, 2005. Total debt at May 31, 2006 was $50 million.

New Bookings

New bookings for the third quarter were $5.57 billion, the highest in nine quarters:

New bookings for the nine months ended May 31, 2006 totaled $15.44 billion, an increase of 23 percent in local currency and 20 percent in U.S. dollars over the same period last year.

Net Revenues by Operating Group

Net revenues for Accenture’s five operating groups were as follows:

Net Revenues by Geographic Region

Net revenues by geographic region were as follows:

Share Repurchase Activity

During the third quarter of fiscal 2006, Accenture repurchased or redeemed a total of 9.8 million shares for a total of $290 million. At May 31, 2006, Accenture had $2.2 billion of share repurchase authority remaining.

Business Outlook

Fourth Quarter Fiscal 2006

For the fourth quarter, ending Aug. 31, 2006, Accenture expects net revenues to be in the range of $4.20 billion to $4.35 billion and GAAP diluted EPS to be in the range of $0.52 to $0.54. GAAP diluted EPS will include the impact of a $140 million tax benefit recorded in June as a result of the expiration of a statute of limitations. The company’s consolidated tax provision in the fourth quarter will reflect the impact of this item.

Full Fiscal Year 2006

For the full fiscal year 2006, Accenture now expects net revenues to be at the upper end of its previously communicated range of 9 percent to 12 percent in local currency. The company now expects GAAP diluted EPS to be in the range of $1.55 to $1.57, including the impact of the $140 million tax benefit recorded in June.

Accenture has increased its outlook for operating cash flow and now expects operating cash flow for the full fiscal year to be in the range of $2.10 billion to $2.20 billion; property and equipment additions to be $350 million; and free cash flow to be in the range of $1.75 billion to $1.85 billion.

The company now expects its annual effective tax rate to be in the range of 25 percent to 27 percent, including the impact of the tax benefit recorded in June.

Accenture continues to target new bookings in the range of $19 billion to $21 billion for the full fiscal year. Given new bookings to date and pending opportunities, the company now expects to be at the high end of the range.

Conference Call and Webcast Details

Accenture will host a conference call at 4:30 p.m. EDT today to discuss its third-quarter 2006 financial results. To participate, please dial +1 (800) 230-1092 [+1 (612) 288-0318 outside the United States, Puerto Rico and Canada] approximately 15 minutes before the scheduled start of the call. The conference call will also be accessible live on the Investor Relations section of the Accenture Web site at www.accenture.com.

A replay and podcast of the conference call will be available online at www.accenture.com [for approximately two weeks beginning at 9:45 p.m. EDT Thursday, June 29]. The replay will also be available via telephone by dialing +1 (800) 475-6701 [+1 (320) 365-3844 outside the United States, Puerto Rico and Canada] and entering access code 833247 from 9:45 p.m. EDT Thursday, June 29 through 11:59 p.m. EDT Thursday, July 13.

About Accenture

Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills, and technologies to help clients improve their performance. With more than 133,000 people in 48 countries, the company generated net revenues of US$15.55 billion for the fiscal year ended Aug. 31, 2005. Its home page is www.accenture.com.

Forward-Looking Statements

This news release contains forward-looking statements relating to our operations and results of operations, the accuracy of which is necessarily subject to risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed under the “Risk Factors” heading in the Business section of our most recent annual report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.

Non-GAAP Financial Information

This press release includes certain non-GAAP financial information as defined by Securities and Exchange Commission Regulation G. Pursuant to the requirements of this regulation, reconciliations of this non-GAAP financial information to Accenture’s financial statements as prepared under generally accepted accounting principles (GAAP) are included in this press release. Accenture’s management believes providing investors with this information gives additional insights into Accenture’s results of operations. While Accenture’s management believes that these non-GAAP financial measures are useful in evaluating Accenture’s operations, this information should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with GAAP.

ACCENTURE LTD
CONSOLIDATED INCOME STATEMENT
For the Three and Nine Months Ended May 31, 2006 and 2005
(In thousands of U.S. dollars, except share and per share data)
(Unaudited)
  Three Months Ended May 31, Nine Months Ended May 31,
                        
2006
 
% of Net Revenues
           
2005
            
% of Net Revenues
                      
2006
 
% of Net Revenues
           
2005
        
% of Net Revenues
REVENUES:
Revenues before reimbursements (Net revenues) $4,408,069 100% $4,078,573 100% $12,680,339 100% $11,622,450 100%
Reimbursements 397,258
419,037
1,159,116
1,162,916
Revenues 4,805,327
4,497,610
13,839,455
12,785,366
OPERATING EXPENSES:
Cost of services:
Cost of services before reimbursable expenses 2,954,184 67.0% 2,669,056 65.4% 9,037,490 71.3% 7,823,445 67.3%
Reimbursable expenses 397,258
419,037
1,159,116
1,162,916
Cost of services 3,351,442
3,088,093
10,196,606
8,986,361
Sales and marketing 453,709 10.3% 421,238 10.3% 1,255,723 9.9% 1,157,100 10.0%
General and administrative costs 362,051 8.2% 382,430 9.4% 1,101,164 8.7% 1,134,723 9.8%
Reorganization benefits, net (51,999)
(66,099)
(54,030)
(94,868)
Total operating expenses 4,115,203
3,825,662
12,499,463
11,183,316
OPERATING INCOME 690,124 15.7% 671,948 16.5% 1,339,992 10.6% 1,602,050 13.8%
Gain on investments, net 15
4,672
3,245
19,305
Interest income 31,571
29,075
86,505
77,259
Interest expense (4,852)
(6,373)
(14,095)
(18,989)
Other expense (4,971)
(10,919)
(18,113)
(16,092)
INCOME BEFORE INCOME TAXES 711,887 16.1% 688,403 16.9% 1,397,534 11.0% 1,663,533 14.3%
Provision for income taxes 213,088
202,392
466,777
517,359
INCOME BEFORE MINORITY INTEREST 498,799 11.3% 486,011 11.9% 930,757 7.3% 1,146,174 9.9%
Minority interest in Accenture SCA and Accenture Canada Holdings Inc (153,843)
(178,677)
(296,633)
(429,046)
Minority interest – other (1) (2,692)
(2,054)
(7,240)
(5,789)
NET INCOME $342,264 7.8% $305,280 7.5% $626,884 4.9% $711,339 6.1%
CALCULATION OF EARNINGS PER SHARE:
Net income $342,264
$305,280
$626,884
$711,339
Minority interest in Accenture SCA and Accenture Canada Holdings Inc. (2) 153,843
178,677
296,633
429,046
Net income for diluted earnings per share calculation $496,107
$483,957
$923,517
$1,140,385
EARNINGS PER SHARE:
Basic $0.58
$0.52
$1.07
$1.21
Diluted $0.56
$0.51
$1.03
$1.17
WEIGHTED AVERAGE SHARES:
Basic 589,933,994
587,277,097
587,424,108
589,530,351
Diluted 886,889,939
952,292,398
898,103,729
970,731,118





Cash Dividends Per Share $ —
$ —
$0.30
$ —

[1] Minority interest – other is comprised primarily of minority interest attributable to the minority shareholders of Avanade, Inc.
[2] Diluted earnings per share assumes the redemption and exchange of all Accenture SCA Class I common shares and Accenture Canada Holdings Inc..exchangeable shares, respectively, for Accenture Ltd Class A common shares, on a one-for-one basis.

ACCENTURE LTD
RECONCILIATION OF CONSOLIDATED INCOME STATEMENT, AS REPORTED (GAAP),
TO CONSOLIDATED INCOME STATEMENT ON AN OPTIONS-ADJUSTED BASIS
For the Three Months Ended May 31, 2005
(In thousands of U.S. dollars, except share and per share data)
(Unaudited)
 
  As Reported
(GAAP)
Adjustments(3) Options-Adjusted % of Net Revenues
REVENUES:
Revenues before reimbursements (Net revenues) $4,078,573 - $4,078,573 100%
Reimbursements 419,037 - 419,037
Revenues 4,497,610 - 4,497,610
OPERATING EXPENSES:
Cost of services:
Cost of services before reimbursable expenses 2,669,056 61,798 2,730,854 67.0%
Reimbursable expenses 419,037 - 419,037
Cost of services 3,088,093 61,798 3,149,891
Sales and marketing 421,238 1,653 422,891 10.4%
General and administrative costs 382,430 2,644 385,074 9.4%
Reorganization benefits, net (66,099) - (66,099)
Total operating expenses 3,825,662 66,095 3,891,757
OPERATING INCOME 671,948 (66,095) 605,853 14.9%
Gain on investments, net 4,672 - 4,672
Interest income 29,075 - 29,075
Interest expense (6,373) - (6,373)
Other expense (10,919) - (10,919)
INCOME BEFORE INCOME TAXES 688,403 (66,095) 622,308 15.3%
Provision for income taxes 202,392 (19,733) 182,659
INCOME BEFORE MINORITY INTEREST 486,011 (46,362) 439,649 10.8%
Minority interest in Accenture SCA and Accenture Canada Holdings Inc (178,677) 17,116 (161,561)
Minority interest – other (1) (2,054) - (2,054)
NET INCOME $305,280 $(29,246) $276,034 6.8%
CALCULATION OF EARNINGS PER SHARE:
Net income $305,280
$276,034
Minority interest in Accenture SCA and Accenture Canada Holdings Inc. (2) 178,677
161,561
Net income for diluted earnings per share calculation $483,957
$437,595
EARNINGS PER SHARE:
Basic $0.52
$0.47
Diluted $0.51
$0.46
WEIGHTED AVERAGE SHARES:
Basic 587,277,097
587,277,097
Diluted 952,292,398
952,292,398

[1] Minority interest – other is comprised primarily of minority interest attributable to the minority shareholders of Avanade, Inc.
[2] Diluted earnings per share assumes the redemption and exchange of all Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares, respectively, for Accenture Ltd Class A common shares, on a one-for-one basis.
[3] Adjustments represent the estimated amounts that Accenture would have incurred if it had expensed employee stock options and employee share purchase plans for the three months ended May 31, 2005.

ACCENTURE LTD
RECONCILIATION OF CONSOLIDATED INCOME STATEMENT, AS REPORTED (GAAP),
TO CONSOLIDATED INCOME STATEMENT ON AN OPTIONS-ADJUSTED BASIS
For the Nine Months Ended May 31, 2005
(In thousands of U.S. dollars, except share and per share data)
(Unaudited)
 
  As Reported
(GAAP)
Adjustments(3) Options-Adjusted % of Net Revenues
REVENUES:
Revenues before reimbursements (Net revenues) $11,622,450 - $11,622,450 100%
Reimbursements 1,162,916 - 1,162,916
Revenues 12,785,366 - 12,785,366
OPERATING EXPENSES:
Cost of services:
Cost of services before reimbursable expenses 7,823,445 138,773 7,962,218 68.5%
Reimbursable expenses 1,162,916 - 1,162,916
Cost of services 8,986,361 138,773 9,125,134
Sales and marketing 1,157,100 3,711 1,160,811 10.0%
General and administrative costs 1,134,723 5,937 1,140,660 9.8%
Reorganization benefits, net (94,868) - (94,868)
Total operating expenses 11,183,316 148,421 11,331,737
OPERATING INCOME 1,602,050 (148,421) 1,453,629 12.5%
Gain on investments, net 19,305 - 19,305
Interest income 77,259 - 77,259
Interest expense (18,989) - (18,989)
Other expense (16,092) - (16,092)
INCOME BEFORE INCOME TAXES 1,663,533 (148,421) 1,515,112 13.0%
Provision for income taxes 517,359 (44,431) 472,928
INCOME BEFORE MINORITY INTEREST 1,146,174 (103,990) 1,042,184 9.0%
Minority interest in Accenture SCA and Accenture Canada Holdings Inc (429,046) 39,082 (389,964)
Minority interest – other (1) (5,789) - (5,789)
NET INCOME $711,339 $(64,908) 646,431 5.6%
CALCULATION OF EARNINGS PER SHARE:
Net income $711,339
$646,431
Minority interest in Accenture SCA and Accenture Canada Holdings Inc. (2) 429,046
389,964
Net income for diluted earnings per share calculation $1,140,385
$1,036,395
EARNINGS PER SHARE:
Basic $1.21
$1.10
Diluted $1.17
$1.07
WEIGHTED AVERAGE SHARES:
Basic 589,530,351
589,530,351
Diluted 970,731,118
970,731,118

[1] Minority interest – other is comprised primarily of minority interest attributable to the minority shareholders of Avanade, Inc.
[2] Diluted earnings per share assumes the redemption and exchange of all Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares, respectively, for Accenture Ltd Class A common shares, on a one-for-one basis.
[3] Adjustments represent the estimated amounts that Accenture would have incurred if it had expensed employee stock options and employee share purchase plans for the three months ended May 31, 2005.

ACCENTURE LTD
SUMMARY OF REVENUES
(In thousands of U.S. dollars)
(Unaudited)
Three Months Ended

May 31, 2006 May 31, 2005 Percent
Increase
(Decrease) US$
Percent Increase
Local
Currency
Percent of
Total 2006
Net Revenues
OPERATING GROUPS
Communication & High Tech $1,079,220 $1,036,972 4% 7% 24%
Financial Services 921,676 909,421 1% 6% 21%
Government 598,842 577,248 4% 7% 14%
Products 1,116,766 932,680 20% 24% 25%
Resources 687,412 620,564 11% 13% 16%
Other 4,153 1,688 n/m n/m
TOTAL Net Revenues 4,408,069 4,078,573 8% 11% 100%
Reimbursements 397,258 419,037 (5%)

TOTAL REVENUES $4,805,327 $4,497,610 7%

GEOGRAPHY
Americas $2,018,417 $1,745,657 16% 14% 46%
EMEA 2,073,050 2,067,059 0% 7% 47%
Asia Pacific 316,602 265,857 19% 25% 7%
TOTAL Net Revenues $4,408,069 $4,078,573 8% 11% 100%
TYPE OF WORK
Consulting $2,656,667 $2,497,339 6% 10% 60%
Outsourcing 1,751,402 1,581,234 11% 14% 40%
TOTAL Net Revenues $4,408,069 $4,078,573 8% 11% 100%


Nine Months Ended

May 31, 2006 May 31, 2005 Percent
Increase US$
Percent Increase
Local
Currency
Percent of
Total 2006
Net Revenues
OPERATING GROUPS
Communication & High Tech $3,152,853 $2,991,991 5% 8% 25%
Financial Services 2,609,910 2,575,450 1% 5% 20%
Government 1,794,648 1,622,162 11% 13% 14%
Products 3,138,006 2,646,272 19% 22% 25%
Resources 1,976,764 1,781,449 11% 13% 16%
Other 8,158 5,126 n/m n/m
TOTAL Net Revenues 12,680,339 11,622,450 9% 12% 100%
Reimbursements 1,159,116 1,162,916 0%

TOTAL REVENUES $13,839,455 $12,785,366 8%

GEOGRAPHY
Americas $5,771,674 $4,871,848 18% 17% 46%
EMEA 5,998,177 5,946,586 1% 7% 47%
Asia Pacific 910,488 804,016 13% 18% 7%
TOTAL Net Revenues $12,680,339 $11,622,450 9% 12% 100%
TYPE OF WORK
Consulting $7,698,682 $7,183,544 7% 10% 61%
Outsourcing 4,981,657 4,438,906 12% 15% 39%
TOTAL Net Revenues $12,680,339 $11,622,450 9% 12% 100%

n/m = not meaningful

ACCENTURE LTD
OPERATING INCOME BY OPERATING GROUP (OG)
For the Three Months Ended May 31, 2006 and 2005
(In thousands of U.S. dollars)
(Unaudited)
Operating Income as Reported

2006 2005
Operating Groups Operating Income Percent of OG
Net Revenues
Operating Income Percent of OG Net Revenues Percent Increase (Decrease)
Communications & High Tech $173,516 16% $222,520 21% (22%)
Financial Services 125,542 14% 163,218 18% (23%)
Government 66,136 11% 69,181 12% (4%)
Products 229,951 21% 117,381 13% 96%
Resources 94,979 14% 99,648 16% (5%)
Total $690,124 15.7% $671,948 16.5% 3%

Operating Income on an Options-Adjusted Basis and Excluding Reorganization Benefits

2006 2005
Operating Groups Reorg. Benefits (1) Adjusted Operating Income Percent of OG Net Revenues Options Adjs. (2) Reorg. Benefits (1) Adjusted Operating Income Percent of OG Net Revenues Percent Increase (Decrease)
Communications & High Tech $13,710 $159,806 15% $15,725 $17,005 $189,790 18% (16%)
Financial Services 11,847 $113,695 12% 16,252 16,782 $130,184 14% (13%)
Government 8,797 $57,339 10% 7,871 10,566 $50,744 9% 13%
Products 14,141 $215,810 19% 15,521 17,492 $84,368 9% 156%
Resources 9,188 $85,791 12% 10,726 10,707 $78,215 13% 10%
Total $57,683 $632,441 14.3% $66,095 $72,552 $533,301 13.1% 19%

[1] Represents reorganization benefits related to certain reorganization liabilities established in connection with Accenture’s transition to a corporate structure in 2001, which are included in Reorganization benefits, net on the income statement.
[2] Adjustments represent the estimated amounts that Accenture would have incurred if it had expensed employee stock options and employee share purchase plans for the three months ended May 31, 2005.

ACCENTURE LTD
OPERATING INCOME (LOSS) BY OPERATING GROUP (OG)
For the Nine Months Ended May 31, 2006 and 2005
(In thousands of U.S. dollars)
(Unaudited)
Operating Income (Loss) as Reported

2006 2005
Operating Groups Operating Income (Loss) Percent of OG Net Revenues Operating Income Percent of OG Net Revenues Percent Increase (Decrease)
Communications & High Tech $523,310 17% $510,345 17% 3%
Financial Services 309,477 12% 385,697 15% (20%)
Government (3) (8,826) (0%) 128,791 8% n/m
Products (3) 265,006 8% 301,240 11% (12%)
Resources 251,025 13% 275,977 15% (9%)
Total $1,339,992 10.6% $1,602,050 13.8% (16%)

Operating Income (Loss) on an Options-Adjusted Basis and Excluding Reorganization Benefits

2006 2005
Operating Groups Reorg. Benefits (1) Adjusted Operating Income (Loss) Percent of OG Net Revenues Options Adjs. (2) Reorg. Benefits (1) Adjusted Operating Income Percent of OG Net Revenues Percent Increase (Decrease)
Communications & High Tech $17,183 $506,127 16% $34,898 $27,510 $447,937 15% 13%
Financial Services 14,901 $294,576 11% 35,496 26,324 323,877 13% (9%)
Government (3) 10,984 $(19,810) (1%) 18,916 17,249 92,626 6% n/m
Products (3) 17,742 $247,264 8% 35,513 27,020 238,707 9% 4%
Resources 11,511 $239,514 12% 23,598 16,688 235,691 13% 2%
Total $72,321 $1,267,671 10.0% $148,421 $114,791 $1,338,838 11.5% (5%)
n/m = not meaningful

[1] Represents reorganization benefits related to certain reorganization liabilities established in connection with Accenture’s transition to a corporate structure in 2001, which are included in Reorganization benefits, net on the income statement.
[2] Adjustments represent the estimated amounts that Accenture would have incurred if it had expensed employee stock options and employee share purchase plans for the nine months ended May 31, 2005.
[3] Includes the impact of the NHS provision.

ACCENTURE LTD
RECONCILIATION OF DILUTED EARNINGS PER SHARE, AS REPORTED (GAAP) TO
DILUTED EARNINGS PER SHARE, AS ADJUSTED (NON-GAAP)

For the Three and Nine Months Ended May 31, 2006 and 2005
(In thousands of U.S. dollars, except share and per share data)
(Unaudited)
 

For the Three Months Ended May 31, 2006 For the Nine Months Ended May 31, 2006
  Dollar Amount Per Share Amount(1) Dollar Amount Per ShareAmount (1)
NET INCOME $342,264
$626,884
Minority interest in Accenture SCA and Accenture Canada Holdings Inc. (2) 153,843
296,633
Net income for diluted earnings per share calculation 496,107 $0.56 923,517 $1.03
Less reorganization benefit, net of tax impacts of $3,574 and
$7,026 for the three and nine month periods, respectively (54,109) (0.06) (65,295) (0.07)
Net income for diluted earnings per share calculation, adjusted $441,998 $0.50 $858,222 $0.96
WEIGHTED AVERAGE SHARES—Diluted
886,889,939
898,103,729



For the Three Months Ended May 31, 2005 For the Nine Months Ended May 31, 2005
  Dollar Amount Per Share Amount(1) Dollar Amount Per Share Amount (1)
NET INCOME $305,280
$711,339
Minority interest in Accenture SCA and Accenture Canada Holdings Inc. (2) 178,677
429,046
Net income for diluted earnings per share calculation 483,957 $0.51 1,140,385 $1.17
Pro forma stock option and employee share purchase plan compensation expense, net of tax (3) (46,362) (0.05) (103,990) (0.10)
Less reorganization benefit, net of tax impacts of $1,198 and
$8,757 for the three and nine month periods, respectively (71,354) (0.08) (106,034) (0.11)
Net income for diluted earnings per share calculation, adjusted $366,241 $0.38 $930,361 $0.96
WEIGHTED AVERAGE SHARES—Diluted
952,292,398
970,731,118

[1] The per share amount is calculated as the dollar amount divided by the number of weighted average diluted shares.
[2] Diluted earnings per share assumes the redemption and exchange of all Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares, respectively, for Accenture Ltd Class A common shares, on a one-for-one basis.
[3] Calculated as pre-tax stock option and employee share purchase plan compensation expense of $66,095 and $148,421 for the three and nine months ended May 31, 2005, respectively, applying an average tax rate of 30%.

ACCENTURE LTD
CONSOLIDATED BALANCE SHEETS
May 31, 2006 and August 31, 2005
(In thousands of U.S. dollars)

May 31, 2006
(Unaudited)
August 31, 2005
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $2,793,716 $2,483,990
Short-term investments 192,399 463,460
Receivables from clients, net 2,001,091 1,752,937
Unbilled services 1,329,774 1,353,676
Other current assets 606,182 631,204
Total current assets 6,923,162 6,685,267
NON-CURRENT ASSETS:
Unbilled services, net 117,659 472,430
Investments 148,806 262,873
Property and equipment, net 739,489 693,710
Other non-current assets 1,082,055 843,072
Total non-current assets 2,088,009 2,272,085
TOTAL ASSETS $9,011,171 $8,957,352
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Short-term debt $24,804 $31,072
Accounts payable 803,711 807,317
Deferred revenues 1,609,103 1,284,303
Accrued payroll and related benefits 1,553,316 1,430,998
Other accrued liabilities 1,730,041 1,377,443
Total current liabilities 5,720,975 4,931,133
NON-CURRENT LIABILITIES:
Long-term debt 25,589 44,116
Other non-current liabilities
1,062,342 1,304,230
Total non-current liabilities 1,087,931 1,348,346
MINORITY INTEREST 719,620 980,959
SHAREHOLDERS' EQUITY 1,482,645 1,696,914
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $9,011,171 $8,957,352

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