DELUXE CORP — Director's Dealing 2004

Aug 3, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2004-08-02

Reporting Person: WIDENER LUANN E (Sr. V.P. Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-02	Common Stock	M	3333	$20.24	Acquired	4804	Direct
2004-08-02	Common Stock	S	1544	$43.70	Disposed	3260	Direct
2004-08-02	Common Stock	F	836	$43.70	Disposed	2424	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-08-02	Common Stock Option	$20.24	M	3333	Disposed	2008-01-26	Common Stock (3333)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Option	$47.67	2009-03-14	Common Stock (10000)	10000	Direct
Common Stock Option	$38.54	2010-03-10	Common Stock (10000)	10000	Direct
Common Stock Option	$42.35	2011-05-04	Common Stock (2870)	2870	Direct

Footnotes

F1: Includes 600 shares of restricted stock.

F2: Options vest in three equal installments on the three succeeding anniversary dates of the date of grant, provided the holder remains a director of the Company. Date entered reflects date on which first installment vests(ed).