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DELUXE CORP Director's Dealing 2007

May 8, 2007

32349_dirs_2007-05-08_dd7ff8c9-3b0f-40f9-9ad8-cb5c9a57d644.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2007-05-04

Reporting Person: WIDENER LUANN E (Sr. V.P., President SS & FS)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2007-05-04 Common Stock F 197 $40.57 Disposed 28972 Direct
2007-05-07 Common Stock M 5800 $26.58 Acquired 34772 Direct
2007-05-07 Common Stock S 3907 $39.86 Disposed 30865 Direct
2007-05-07 Common Stock F 546 $39.90 Disposed 30319 Direct
2007-05-08 Common Stock M 5067 $24.99 Acquired 35386 Direct
2007-05-08 Common Stock S 3168 $39.33 Disposed 32218 Direct
2007-05-08 Common Stock F 621 $39.55 Disposed 31597 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2007-05-07 Common Stock Option $26.58 M 5800 Disposed 2013-02-14 Common Stock (5800) Direct
2007-05-08 Common Stock Option $24.99 M 5067 Disposed 2013-03-01 Common Stock (5067) 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
Common Stock Option $39.63 2012-04-27 Common Stock (4000) 4000 Direct
Common Stock Option $32.65 2014-02-13 Common Stock (51500) 51500 Direct

Footnotes

F1: Transaction reflects withholding of shares to satisfy tax liabilities associated with vesting of restricted stock. Total ownership includes 24,300 shares of restricted stock.

F2: Sale of shares to cover exercise price of options.

F3: Withholding of shares to satisfy tax liabilities associated with option exercise.

F4: Options vest in three equal installments on the three succeeding anniversary dates of the date of grant, provided the holder remains an employee of the Company. Date entered reflects date on which first installment vests(ed).