Deluxe Corp. realignment creates independent, publicly traded company

ST. PAUL, Minn. - Deluxe Corp.'s board of directors has approved a plan for a strategic realignment of Deluxe that will create two independent companies. Under the plan, Deluxe will combine its eFunds and iDLX Technology Partners businesses into a separate, independent publicly traded company, to be called eFunds Corp. Deluxe Paper Payment Systems (PPS) will continue to operate under the Deluxe Corporation name and be traded under the ticker symbol DLX. J.A. Blanchard, Deluxe Corp. chairman and CEO will become chairman and CEO of eFunds Corp. In addition, Debra Janssen, president/CEO of the original eFunds division, will become president/CEO of the new eFunds entity; and Dr. Nikhil Sinha, president/CEO, iDLX Technology Partners will become executive vice president for global corporate development. In addition, Lawrence Mosner, currently vice chairman, Deluxe Corp., will become chairman and CEO of Deluxe; and Ronald Eilers, currently president/CEO, Deluxe Paper Payment Systems, will become president/COO of Deluxe following completion of the split-off. Deluxe announced the formation of eFunds Corp. in April 1999 by combining its electronic transaction and payment protection businesses under one umbrella company.These include Deluxe Electronic Payment Systems; Debit BureauT; Chex Systems Inc.; SCANT (Shared Check Authorization Network); and Deluxe's check conversion business.