pg 248-256e About CovidienCovidien is a leading global healthcare products company that creates innovativemedical solutions for better patient outcomes and

pg 248-256e About CovidienCovidien is a leading global healthcare products company that creates innovativemedical solutions for better patient outcomes and delivers value throughclinical leadership and excellence. Covidien manufactures, distributes andservices a diverse range of industry-leading product lines in four segments:Medical Devices, Imaging Solutions, Pharmaceutical Products and MedicalSupplies. With 2008 revenue of nearly $10 billion, Covidien has more than 41,000employees worldwide in 59 countries, and its products are sold in over 140countries Please visit covidien to learn more about our business. CovidienDiana Sousa, 203-492-7610Vice President CommunicationsSurgical orBruce Farmer, 508-452-4372Vice PresidentPublic orColeman Lannum, CFA, 508-452-4343Vice PresidentInvestor orBrian Nameth, 508-452-4363DirectorInvestor Copyright Business Wire 2009. FISCAL 2009 HIGHLIGHTS* Total revenue increased 1% to $2.1 billion * Service revenue increased 4% to $2.0 billion. * Operating income decreased 3% to $805.2 million, as combined interest on fundsheld for clients and investment income decreased 48%.

* Operating income, net of certain items, increased 5% to $729.7 million. * Net income decreased 7% to $533.5 million, while diluted earnings per sharedecreased 5% to $1.48 per share * Cash flow from operations was $688.8 million. * Dividends paid to shareholders were $447.7 million.ROCHESTER, N.Y.–(Business Wire)–Paychex, Inc. (“we,” “our,” or “us”) (NASDAQ:PAYX) today announced total revenueof $2.1 billion for the fiscal year ended May 31, 2009 (“fiscal 2009″), a 1%increase over the prior fiscal year. Net income decreased 7% to $533.5 millionand diluted earnings per share decreased 5% to $1.48 per share. “Fiscal 2009 was one of the most challenging years in Paychex history.

We werefaced with many difficulties including the weakest economic conditions we haveever experienced, a severe credit crisis, and extremely low investment rates ofreturn on our funds held for clients. Despite this, our team responded well tothe challenge by delivering record levels of operating income, net of certainitems. In addition, despite this volatile period, we continued to grow revenue,expand our operating margins, invest in our business, and provide excellentcustomer service,” commented Jonathan J Judge, President and Chief ExecutiveOfficer of Paychex. “Our financial position remains strong with cash and total corporate investmentsincreasing approximately $140 million during fiscal 2009. We generated thisgrowth while paying 84% of our net income in dividends to our stockholders,”added Mr Judge. Payroll service revenue increased 1% over the prior fiscal year to $1.5 billion.The increase was primarily due to our annual price increase and growth in theutilization of ancillary payroll services, offset by weak economic conditionsthat adversely impacted revenue growth.

Weak economic conditions resulted in ayear over year decrease of 3.1% in our client base, a 2.9% decrease in checksper client, a 19% decrease in new client sales from new business starts, and a17% increase in clients lost due to companies going out of business or no longerhaving any employees. As of May 31, 2009 and May 31, 2008, 93% of our clientsutilized our payroll tax administration services, and nearly all of our newclients purchase these services. Employee payment services utilization was 75%as of May 31, 2009 compared to 73% as of May 31, 2008, with over 80% of our newclients selecting these services. Human Resource Services revenue increased 11% to $523.6 million for fiscal 2009.Growth in these services was generated from the following: comprehensive humanresource outsourcing services clients increased 10% to 18,000 with clientemployees increasing 3% to 453,000; workers` compensation insurance clientsincreased 6% to 77,000; and retirement services clients increased 2% to 50,000.Health and benefits services revenue, our newest offering, grew 70% to $20.9million for fiscal 2009.