Deluxe Acquires Custom Direct to Strengthen its Consumer Services

ST. PAUL, MN—April 12, 2010—Deluxe Corp. (NYSE: DLX) announced today that it has acquired all the outstanding shares of Custom Direct, Inc. ("Custom Direct"), a Joppa, MD-based provider of direct-to-consumer checks. Deluxe paid $98 million in cash of which approximately $86 million was used to extinguish Custom Direct's outstanding debt. The acquisition was funded with a draw on the Company's credit facility.

"The acquisition of Custom Direct creates a tremendous opportunity to further execute on a key core focus area of our strategy, optimizing the cash flow in our direct-to-consumer channel," said Lee Schram, CEO of Deluxe. "We expect the transaction will offer significant value to shareholders as we enhance the revenue and cost efficiencies in this profitable channel."

During the remainder of 2010, the acquisition is expected to generate approximately $60 million in revenue and over $15 million of additional operating cash flow. The acquisition is also expected to be neutral to earnings per share after recording approximately $2 million in transaction-related costs in 2010, and be accretive to EPS by over $0.10 in 2011.

Included in these estimates are revenue synergies from improvements to call center scripting and cost reductions from leveraging procurement for reduced delivery and media spend, increased manufacturing efficiencies and SG&A cost reductions. Also, the company stated that it has no immediate plans to close any facilities as a result of the acquisition.

About Deluxe Corp.
Deluxe Corp. is a growth engine for small businesses and financial institutions. Through its industry-leading businesses and brands, the Company helps small businesses and financial institutions attract and retain customers. The Company employs a multi-channel strategy to provide a suite of life-cycle driven solutions to its customers. In addition to its personalized printed products, the Company offers a growing suite of business services, including logo design, payroll, web design and hosting, business networking and other web-based services to help small business grow. In the financial services industry, Deluxe sells check programs and fraud prevention, customer loyalty and retention programs to help banks build lasting relationships and grow core deposits. The Company also sells personalized checks, accessories and other services directly to consumers. For more information about Deluxe, visit http://www.deluxe.com.

About Custom Direct
Custom Direct is a provider of consumer checks, selling under multiple brands including the Check Gallery(R), Styles Checks(R) and Artistic Checks(R) names. In addition, Custom Direct produces other stationery products, custom designs and printed products, including print-on-demand products marketed to consumers and small businesses through its Janzoon.com website. Immediately prior to the acquisition by Deluxe, Custom Direct spun-off its EZShield(SM) product line to EZShield Parent, Inc., a subsidiary of EdgeStone Capital Equity Fund III of Toronto, Ontario. For more information on EZShield, visit http://www.ezshield.com and on Custom Direct, visit http://www.cdi-us.com.