DELUXE CORP — Director's Dealing 2008

Jun 16, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2008-06-13

Reporting Person: ODWYER MARY ANN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-06-13	Common Stock	J	847	$20.67	Acquired	19771	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Option	$42.35	2011-05-04	Common Stock (1000)	1000	Direct
Common Stock Option	$39.63	2012-04-27	Common Stock (1000)	1000	Direct

Footnotes

F1: Shares acquired represent restricted stock units received in lieu of directors' fees pursuant to the Company's Non-employee Director Stock and Deferral Plan. These units convert to shares of Common Stock on deferred dates specified by the director. Total direct ownership reported in column 5 includes 3,293 shares of restricted stock and 11,887 restricted stock units.

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).