Exhibit 99.1
FOR IMMEDIATE RELEASE
PAYCHEX ELECTS NEW BOARD MEMBER
Pamela A. Joseph, chairman and CEO of NOVA Information Systems, is 20-year veteran
of financial services industry
Rochester, NY (November 23, 2005) — Paychex, Inc. today announced that the Paychex Board of
Directors has elected Pamela A. Joseph as a board member.
Ms. Joseph is chairman of U.S. Bancorp Payment Services and chief executive officer of
Atlanta-based NOVA Information Systems, Inc., a wholly owned subsidiary of U.S. Bancorp that
manages and facilitates payment processing on behalf of retailers, financial institutions,
associations, government agencies, and merchant services providers. Joseph also oversees U.S.
Bank’s Retail Payment Systems and Transaction Services divisions. Services provided include ATM
processing, consumer and small business credit card issuing, affinity cards, co-brand cards, debit
and prepaid products. Ms. Joseph is a vice chairman of U.S. Bancorp and a member of its 13-member
managing committee.
“Pamela is a very talented and successful professional who will bring unique and valuable
contributions to the Paychex Board of Directors,” said Jonathan J. Judge, Paychex president and
CEO. “She has tremendous experience in the small and medium-sized business space, and, as a
20-year veteran of the financial services industry, Pamela understands the large volume transaction
business.
“She will be a great asset to Paychex, and we are thrilled to welcome her to the Paychex Board of
Directors,” Judge added.
Ms. Joseph joined NOVA in 1994 as vice president of marketing. She held various senior management
positions during her tenure before assuming her current role as chairman and CEO in November 2004.
NOVA processes approximately $125 billion annually in payment services transactions, generating
more than $1 billion in annualized revenues.
Before joining NOVA, Ms. Joseph was director of new market development for VISA International.
Prior to her tenure with VISA, Ms. Joseph served more than eight years in the banking industry with
Wells Fargo Bank, where she held various senior sales and marketing positions.
Ms. Joseph holds a bachelor’s degree in business administration from the University of Illinois at
Urbana-Champaign.
-More-
Exhibit 99.1
Paychex Elects New Board Member
Page 2 of 2
November 23, 2005
About Paychex
Paychex, Inc. (NASDAQ:PAYX) 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, time and attendance
solutions, and employee pay services, including direct deposit, check signing, and
Readychex®. Human Resource Services include 401(k) plan recordkeeping, workers’
compensation administration, section 125 plans, a professional employer organization, 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 522,000 payroll
clients nationwide. For more information about Paychex and our
products, visit www.paychex.com.
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For more information, contact:
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Investor Relations: |
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John Morphy, CFO, or Terri Allen
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(585) 383-3406 |
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Media Relations: |
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Laura Saxby Lynch
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(585) 383-3074 or |
Corporate Communications Manager
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lsaxbylynch@paychex.com |