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Tuesday, 02/18/2003

PAYX - Paychex Payroll Services inc.

Company Description

Paychex acquired Advantage Payroll Services, Inc., a payroll processor. Paychex, Inc. today is much more than payroll processing. But as the company's array of products and services grows, the Paychex commitment to its customers remains as strong as it was when B. Paychex is a leading national provider of payroll, human resource, and benefits services for small- to medium-sized businesses, those with fewer than 200 employees. Paychex is based in Rochester, NY and today has more than 100 locations around the country, serving hundreds of thousands of clients nationwide. In fiscal 2002, Paychex generated nearly $955 million in service revenues.

Reasons to Invest

2003 began with another national recognition for Paychex as the company was named to FORTUNE magazine's list of "100 Best Companies to Work For" in America for the second consecutive year. Paychex ranked number 88 on the list. This follows a pattern of success and growth for the company that continued in 2002. Paychex acquired Advantage Payroll Services, a comprehensive payroll processor based in Auburn, Maine. The acquisition provided Paychex with 49,000 new clients. Also in 2002 Training magazine ranked Paychex number 58 on its annual list of the top 100 training organizations. The Wall Street Journal ranked Paychex among the top 25 best performers over a 10-year period based on total shareholder return.

Shares to Qualify = 1          
Auto-reinvestment = yes
Min/Max = $250 to $10,000/Daily

Reinvestment Fees -

Dividend investment fees: None
Cash investment fees: None
Auto reinvestment fees: None

Selling Transaction Fees

$15.00 plus brokerage commission of $.10 per share will be 

The Transfer Agent and Plan Administrator is American Stock Transfer & Trust Company. You can contact as follows:

American Stock Transfer & Trust Company
Attn: Dividend Reinvestment Department
P.O. 922 Wall Street Station
New York, NY 10259-0560
Telephone: 1-877-814-9688 (toll free)


Copyright 2003

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