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ST. PAUL, Minn. – Ronald Eilers has been named by Deluxe Corp. as interim CEO, succeeding Lawrence Mosner effective immediately. Mosner previously announced he planned to retire in 2006 both as Deluxe’s CEO and chairman, and Stuart Alexander, vice president, investor relations, said Mosner had told the board he would stay on until then if necessary. Mosner has been with Deluxe for 10 years, the last five as the company’s CEO and chairman. He began his career with Deluxe as president of Deluxe Direct, and then served as executive vice president before assuming the role of CEO. According to Deluxe, Eilers was a candidate for the CEO position but removed himself from consideration a few months ago for personal reasons. A 17-year veteran of Deluxe, Eilers has served as president and chief operation officer and a member of the Deluxe Board of Directors since May 2000. Alexander said Deluxe’s board is conducting both an internal and external search for a permanent CEO and “has engaged outside assistance” in finding the appropriate person, adding that the board has not set a target date when it wants to make a decision. “Our goal is to have the best candidate in the position. Having Mr. Eilers as interim CEO gives additional time to the board to go through the selection process,” he said. He added that, “Ron has been president and COO of Deluxe, so from the standpoint of continuity, having him in place as interim CEO is a good thing.” The board of directors indicated that with Mosner’s retirement, the positions of CEO and chairman have been separated to allow Eilers to focus on day-to-day operations of Deluxe. Stephen Nachtsheim has been elected to the position of non-executive chairman of the board. But Alexander said it’s entirely possible that once a permanent CEO is hired, that position could be re-combined with the chairman spot. Among Mosner’s many accomplishments during his five years as CEO/chairman of Deluxe, Alexander offered the most significant would be the company’s acquisition in June 2004 of New England Business Services (NEBS), Groton, Mass., a leading business-to-business forms provider. As the largest acquisition in Deluxe’s history – NEBS has over $700 million in revenue and as of June 2004 had approximately 3.1 million active small business customers in the U.S. – Alexander said it ties in with Deluxe’s focus to serve the small business market segment. “That would dwarf anything else that happened during Mr. Mosner’s time as CEO,” said Alexander. -

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