August 18, 2000 - 425: Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions | Deluxe Corporation (DLX)

Filed by: Deluxe Corporation
Pursuant to Rule 425 under the Securities Act of 1933
Commission No.: 0-30791
Subject Company: eFunds Corporation

[LOGO] DELUXE DELUXE CORPORATION
P.O. Box 64235
St. Paul, MN 55164-0235
(651) 483-7111

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N E W S R E L E A S E FOR ADDITIONAL INFORMATION:
STUART ALEXANDER
Vice President
Investor Relations
(651) 483-7358

LOIS M. MARTIN
Senior Vice President
Chief Financial Officer
(651) 481-4222

August 17, 2000

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WE URGE INVESTORS AND SECURITY HOLDERS TO READ eFUNDS CORPORATION'S REGISTRATION
STATEMENT ON FORM S-4, INCLUDING THE PROSPECTUS RELATING TO THE EXCHANGE OFFER
DESCRIBED HEREIN, WHEN IT BECOMES AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION. WHEN THESE AND OTHER DOCUMENTS RELATING TO THE TRANSACTION ARE
FILED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION, THEY MAY BE OBTAINED
FREE AT THE SEC'S WEB SITE AT www.sec.gov. HOLDERS OF DELUXE COMMON STOCK MAY
ALSO OBTAIN EACH OF THESE DOCUMENTS (WHEN THEY BECOME AVAILABLE) FOR FREE BY
DIRECTING YOUR REQUEST TO DELUXE CORPORATION, C/O SHAREOWNER SERVICES, P.O. BOX
64873, SAINT PAUL, MINNESOTA 55164-0873. THIS COMMUNICATION SHALL NOT CONSTITUTE
AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY
SALE OF SECURITIES IN ANY STATE IN WHICH THE OFFER, SOLICITATION OR SALE WOULD
BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF
ANY SUCH STATE. NO OFFERING OF SECURITIES SHALL BE MADE EXCEPT BY MEANS OF A
PROSPECTUS MEETING THE REQUIREMENTS OF SECTION 10 OF THE SECURITIES ACT OF 1933,
AS AMENDED.
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DELUXE TO FILE AMENDED 10-Q FOR SECOND QUARTER
Tax rate related to gain is adjusted

St. Paul, Minn.--Deluxe Corporation (NYSE: DLX) announced today that it is
filing a 10-Q/A for the second quarter to amend its previously reported
provision for income taxes associated with the one-time gains from the Initial
Public Offering (IPO) and planned split-off of eFunds. Deluxe indicated that the
adjustment to the tax provision will be made at the time of the split-off.

"Following receipt of a favorable tax ruling from the Internal Revenue Service
(IRS) with respect to the planned split-off, and in preparation for our third
quarter S-4 filing, we and our independent auditors re-evaluated the tax
treatment on the one-time gains," said Lois Martin, Deluxe's Chief Financial
Officer. "We believe it is appropriate to reflect the favorable tax effect from
the gain on the split-off of eFunds in the quarter the split is completed,
treating it as a discrete transaction, rather than accounting for it through an
adjustment of our annualized effective tax rate."

Deluxe stated that its operating income for the first half of the year is
unchanged and that it expects to complete the split-off of eFunds before year
end.

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AMENDED FINANCIAL RESULTS
Restated net earnings for the second quarter were $.83 per diluted share and
six-month results were $1.44 per diluted share. Second quarter 2000 earnings
include a gain of $30.1 million from the company's IPO of eFunds stock and
pretax charges of $18.4 million from an additional net adjustment for Government
Services loss contracts and expenses under executive change of control and
severance agreements. Excluding the gain and charges, the effective tax rate
remains at 37.5 percent and diluted EPS remained at $.64 in second quarter 2000
compared to $.61 in 1999.

QUARTERS ENDED JUNE 30, 2000
$ IN MILLIONS (EXCEPT PER SHARE AMOUNTS)
UNAUDITED

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PREVIOUSLY REPORTED AMENDED
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Sales 406.8 406.8
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Operating income without gain and
charges 79.0 79.0
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Operating income 60.6 60.6
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Pretax income 85.9 85.9
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Provision for income taxes 4.2 26.2
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Net income 81.7 59.7
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Basic and Diluted EPS 1.13 .83
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Dividends declared per share .37 .37
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SELECTED DATA
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Capital expenditures 21.9 21.9
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Depreciation/amortization 23.1 23.1
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EBITDA 112.5 112.5
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SIX MONTHS ENDED JUNE 30, 2000
$ IN MILLIONS (EXCEPT PER SHARE AMOUNTS)
UNAUDITED

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PREVIOUSLY REPORTED AMENDED
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Sales 811.2 811.2
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Operating income without gain and
charges 151.8 151.8
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Operating income 133.4 133.4
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Pretax income 156.8 156.8
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Provision for income taxes 30.8 52.8
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Net income 126.0 104.0
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Basic and Diluted EPS 1.74 1.44
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Dividends declared per share .74 .74
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SELECTED DATA
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Capital expenditures 42.8 42.8
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Depreciation/amortization 45.1 45.1
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EBIDTA 206.7 206.7
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STATEMENTS MADE IN THIS RELEASE CONCERNING THE COMPANY'S OR MANAGEMENT'S
INTENTIONS, EXPECTATIONS, OR PREDICTIONS ABOUT FUTURE RESULTS OR EVENTS ARE
"FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995. SUCH STATEMENTS ARE NECESSARILY SUBJECT TO RISKS
AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO VARY FROM STATED
EXPECTATIONS, AND SUCH VARIATIONS COULD BE MATERIAL AND ADVERSE. FACTORS THAT
COULD RESULT IN SUCH A VARIATION INCLUDE, BUT ARE NOT LIMITED TO, THE

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INHERENT UNRELIABILITY OF EARNINGS AND REVENUE GROWTH PREDICTIONS DUE TO
NUMEROUS FACTORS, INCLUDING MANY BEYOND THE COMPANY'S CONTROL, POTENTIAL
DIFFICULTIES, DELAYS AND UNANTICIPATED EXPENSES INHERENT IN THE DEVELOPMENT AND
MARKETING OF NEW PRODUCTS AND SERVICES, COMPETITIVE FACTORS, AND THE NUMEROUS
RISKS AND POTENTIAL ADDITIONAL COSTS, DISRUPTIONS AND DELAYS ASSOCIATED WITH THE
REORGANIZATION AND SEPARATION OF OUR BUSINESS UNITS, AND THE ESTABLISHMENT OF
NEW BUSINESS VENTURES AND E-COMMERCE BUSINESS INITIATIVES. OUR INTENTIONS WITH
RESPECT TO eFUNDS CORPORATION ARE SUBJECT TO FURTHER RISKS AND UNCERTAINTIES,
INCLUDING THE ABILITY OF eFUNDS TO SUCCESSFULLY MANAGE AND COMPLETE THE
INTEGRATION OF THREE BUSINESS SEGMENTS INTO eFUNDS; AND THE POTENTIAL THAT THE
SEPARATION OF THE TWO COMPANIES MAY DISRUPT ONE OR MORE OF DELUXE'S BUSINESSES
AND CUSTOMER RELATIONSHIPS. FURTHER, OUR ABILITY TO COMPLETE, AND THE TIMING OF,
THE SPLIT-OFF OF eFUNDS ARE SUBJECT TO MANY FACTORS, A NUMBER OF WHICH ARE
BEYOND OUR CONTROL. ADDITIONAL INFORMATION CONCERNING THESE AND OTHER FACTORS
THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANY'S CURRENT
EXPECTATIONS IS CONTAINED IN THE COMPANY'S FORM 10-Q FOR THE QUARTER ENDED JUNE
30, 2000.

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