Investors Choice

Dividend Reinvestment & Direct Stock Purchase and Sale Plan (DRIP)

This enhanced plan allows you to perform various online transactions including buying and selling common stock of Paychex, Inc.

• Letter to the Shareholders*
• Investors Choice Highlights*
• Plan Purpose and Key Features Summary*
• How the Plan Works*
• Plan Technical Information*
• Enrollment Application*

Investors Choice Contact the Plan Administrator

Telephone

877-814-9688 (toll free)

Internet:

www.amstock.com

Mail:

American Stock Transfer & Trust Company
59 Maiden Lane
New York, NY 10038

Information about Paychex, Inc.

Paychex, Inc.
911 Panorama Trail S.
Rochester, NY 14625-0397
(585) 385-6666

The common stock of Paychex, Inc. trades on the NASDAQ stock market under the symbol PAYX.