Time and Attendance and Workforce Management Solutions

Paychex Announces Acquisition of Stromberg

Florida-based Stromberg is leading provider of time and attendance solutions .

Rochester, NY (April 13, 2004) – Paychex, Inc., a leading national provider of payroll and human resource services, today announced the acquisition of Stromberg, a market leader in time and attendance software solutions for mid- to large-sized businesses. Stromberg, founded in 1989, is based in Lake Mary, Florida. It provides products that support over 500,000 worksite employees at companies throughout the U.S.

Stromberg’s suite of labor management products includes time and attendance, employee self-service, scheduling, and other workforce management solutions. In October 2003, Paychex acquired Stromberg’s Time In A Box product, a Windows-based time and attendance solution for small- to medium-sized businesses.

“We were extremely pleased with the immediate success of Time In A Box, which led us to pursue this latest acquisition. The additional products gained through this acquisition further complement the payroll and human resource services we now provide our clients,” said Walter Turek, senior vice president of sales and marketing for Paychex. “This relationship with Stromberg is a great fit for Paychex. It gives us the opportunity to offer another valuable service to our clients.”

“Stromberg shares Paychex’s commitment to superior customer service,” said Seth Bernstein, CEO and president of Stromberg. “This partnership will allow us to leverage Paychex’s significant resources, giving both our clients and our employees an opportunity to grow.” All Stromberg employees will be offered employment opportunities with Paychex. The transaction was structured as an acquisition of substantially all of the assets of Stromberg by a wholly owned subsidiary of Paychex.

About Paychex

Paychex, Inc. (NASDAQ:PAYX) is a leading national 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®. Human resource and benefits outsourcing 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 490,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com.

• Stromberg Live!Customer conference