SPINOFF: Automatic Data Processing [ADP] and Broadridge Financial Solutions, Inc. [BR]

Issue:
On 3/30/2007 Automatic Data Processing, Inc. [ADP] distributed 0.25 shares of Broadridge Financial Solutions, Inc. [BR] for each share of ADP owned in a regular spinoff.

Cause:
This is a normal spinoff, as discussed on the company website at
http://www.investquest.com/iq/a/adp/main/TaxBasisLtr-spreadsheet.mailing.pdf

Resolution:
Enter the spinoff transaction in accordance with the instructions at
http://www.iclub.com/support/kb/default.asp?page=normal_spinoff.

Here's the information you need for the spinoff:

1. Spinoff date - 3/30/2007
2. Parent company - Automatic Data Processing, Inc. [ADP]
3. Remaining basis percentage of Parent Company, [ADP] - 90.33.
4. Number of shares held in parent company - provided by software.
5. There is one daughter company - Broadridge Financial Solutions, Inc. [BR]
6. Number of shares of BR received - This will be the number of shares owned in ADP multiplied by 0.25 (make sure to include fractional shares).
7. Price per share of daughter company - $19.58.
8. Cash received in lieu of fractional shares - take from broker statement.