Paychex Declares Quarterly Dividend

ROCHESTER, N.Y.--(BUSINESS WIRE)--

Today the Board of Directors of Paychex, Inc. (NASDAQ:PAYX) declared a 3% increase in the Company's regular quarterly dividend from $.30 per share to $.31 per share payable August 15, 2008 to shareholders of record August 1, 2008.

Paychex, Inc. is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex(R). Human Resource Services include 401(k) plan recordkeeping, workers' compensation administration, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business.

Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices and serves approximately 561,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com.

Source: Paychex, Inc.

Released July 9, 2008