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DELUXE PREDICTS FOURTH QUARTER EARNINGS

 DELUXE PREDICTS FOURTH QUARTER EARNINGS
 ST. PAUL, Minn., Dec. 16 /PRNewswire/ -- Deluxe Corporation


(NYSE: DLX) announced today that it expects fourth quarter earnings to be down 6 to 8 percent compared to its year-ago fourth quarter net income results of $53.7 million, or $.63 per share.
 "Revenues and earnings will be up modestly for the full year," said President and Chief Executive Officer Harold V. Haverty, "but sales growth has been slowing for four quarters now due to the recession, and we expect that fourth quarter revenues and earnings will be below last year's levels."
 A significant portion of Deluxe's fourth quarter revenues are dependent on sales of greeting cards and gift wrap for the year-end holiday season, the company said, and revenues are running below last year's levels for the company's consumer specialty products division, which markets the greeting cards and gift wrap product lines. In addition, Deluxe's other business units are experiencing sluggish revenue growth due to the economy.
 "Because a large part of our fourth quarter is tied to the holiday season," said Haverty, "we felt it best to make a statement early as to what we expect our results will be." The company will release year-end results in late January.
 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, ATM card services, account verification services, and sales development 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. The company's consumer specialty products division markets greeting cards, gift wrap, stationery and a variety of related products to households.
 -0- 12/16/91
 /CONTACT: Stuart Alexander, vice president, 612-483-7358 or Charles M. Osborne, senior vice president, chief financial officer, 612-483-7355, both of Deluxe/
 (DLX) CO: Deluxe Corporation ST: Minnesota IN: SU: ERN


AL -- MN006 -- 2436 12/16/91 10:41 EST
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Date:Dec 16, 1991
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