DELUXE CORP — Director's Dealing 2008

Feb 15, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELUXE CORP (DLX)
CIK: 0000027996
Period of Report: 2008-02-13

Reporting Person: Peterson Terry D (V.P., Controller & CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-02-13	Common Stock	F	344	$22.99	Disposed	11436	Direct
2008-02-14	Common Stock	F	2289	$22.34	Disposed	9322	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Option	$39.63	2012-04-27	Common Stock (2150)	2150	Direct
Common Stock Option	$26.58	2013-02-14	Common Stock (10800)	10800	Direct
Common Stock Option	$32.65	2014-02-13	Common Stock (15400)	15400	Direct

Footnotes

F1: Transaction reflects withholding of shares to satisfy tax liabilities associated with vestingof restricted stock. Total ownership includes 3,030 shares of restricted stock and includes 175 shares purchased under the Employee Stock Purchase Plan on 7/31/2007.

F2: 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).