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DELUXE TO COMPLETE PURCHASE OF U.K. FORMS SUPPLIER

 ST. PAUL, Minn., Sept. 7 /PRNewswire/ -- Deluxe Corporation (NYSE: DLX) announced today that it has entered into an agreement to acquire the remaining 75 percent of Stockforms Ltd. from U.K.-based Pegasus Group PLC. Deluxe purchased a 25 percent interest in Stockforms in September 1992, when Deluxe and Pegasus entered into a joint venture to market business forms in the United Kingdom. Before the joint venture, Stockforms was a wholly owned subsidiary of Pegasus, which develops and markets accounting software.
 Stockforms sells original Pegasus forms and forms compatible with other major accounting software programs.
 Deluxe recently opened a manufacturing plant in central England to print business forms for the U.K. market. "We see significant potential for accounting software forms, as new, lower cost software is introduced," said Harold Haverty, Deluxe Corporation chairman and CEO.
 Terms of the transaction were not disclosed.
 Deluxe Corporation is an industry leader in providing products and services to the financial payment systems industry. The company is the nation's largest check printer and also provides electronic funds transfer (EFT) processing services and software, debit and credit card services, and account verification services to financial institutions. the company also provides check authorization services to retailers. Deluxe's Business Systems Division produces a variety of computer and business forms and related products for small businesses and professional practices; and also tax forms and electronic tax filing services to tax preparation professionals. The company's Consumer Specialty Products Division markets greeting cards, gift wrap, stationery and a variety of related products to households.
 -0- 9/07/93
 /CONTACT: Stuart Alexander, vice president, Corporate Public Relations, 612-483-7358 or Charles M. Osborne, senior vice president and chief financial officer, 612-483-7355, both of Deluxe Corporation/
 (DLX)


CO: Deluxe Corporation ST: Minnesota IN: FIN SU: TNM

DS-DB -- MN006 -- 9222 09/07/93 09:40 EDT
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Publication:PR Newswire
Date:Sep 7, 1993
Words:302
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