DELUXE CORP — Director's Dealing 2003

Jul 2, 2003

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2003-06-30

Reporting Person: KP I PARTNERS LP (10% Owner)

Footnotes

F1: The Filing Person acquired the securities from ESL Limited, a Bermuda corporation, in exchange for limited partnership interests in the Filing Person.

F2: The Filing Person is a member of a group consisting of ESL Partners, L.P., a Delaware limited partnership, ESL Limited, a Bermuda corporation, ESL Institutional Partners, L.P., a Delaware limited partnership, ESL Investors, L.L.C., a Delaware limited liability company, ESL Investment Management, LLC, a Delaware limited liability company, RBS Investment Management, LLC, a Delaware limited liability company, ESL Investments, Inc., and Edward S. Lampert. As a result, it may be deemed to be an indirect beneficial owner of the securities of the Issuer owned by the group.