Code of Business Ethics and Conduct Conclusion

Situations are bound to arise that are not addressed specifically in this Code of Business Ethics and Conduct. If you find yourself in such a situation, consider the basic principle that is evident throughout the Paychex Code of Business Ethics and Conduct:

The highest standards of conduct are the standards to apply to all business relationships and behavior.

Proper business behavior begins with basic honesty and integrity in everything you do. Good judgment, plus an awareness of the Paychex Ethics guidelines will certainly enhance your ability to make sound business decisions – business decisions that enhance Paychex' reputation and its ability to compete successfully in its markets.

For more information about Paychex Investor Relations, please contact:

Terri Allen
Paychex Investor Relations
911 Panorama Trail S.
Rochester, NY 14625
585-383-3406

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Paychex named one of "World's Most Ethical Companies" by Ethisphere Magazine

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