8-K

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                  SECURITIES AND EXCHANGE COMMISSION

                       Washington, D.C.  20549

                               Form 8-K

                            CURRENT REPORT

    Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

      Date of Report (Date of earliest event reported): April 24, 2003

                   NEW ENGLAND BUSINESS SERVICE, INC.
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          (Exact name of registrant as specified in its charter)

Delaware                          1-11427           04-2942374
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(State or other jurisdiction   (Commission            (IRS Employer
 of incorporation)              File Number)    Identification No.)

        500 Main Street, Groton, MA                     01471
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    (Address of principal executive offices)          (ZIP Code)

Registrant's telephone number, including area code:  (978) 448-6111
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Item 5.  Other Events.
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On April 24, 2003, New England Business Service, Inc. issued a
press release announcing that it had entered into a definitive
merger agreement to acquire Safeguard Business Systems, Inc.  A
copy of the press release is filed as Exhibit 99 hereto and is
incorporated herein by reference.

Item 7.  Financial Statements, Pro Forma Financial Information
and Exhibits.
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(c)  Exhibits.
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99.  Press release dated April 24, 2003.

                               SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by theundersigned hereunto duly authorized.

                                      NEW ENGLAND BUSINESS SERVICE, INC.
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                                                (Registrant)

April 24, 2003                               DANIEL M. JUNIUS
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    Date                                    Daniel M. Junius
                                            Executive Vice President, Chief
                                            Financial Officer and
                                            Treasurer

EX-99

FOR IMMEDIATE RELEASE          FOR FURTHER INFORMATION CONTACT:
                               DANIEL M. JUNIUS AT (978) 449-3416



             NEW ENGLAND BUSINESS SERVICE, INC. AGREES
            TO ACQUIRE SAFEGUARD BUSINESS SYSTEMS, INC.


GROTON, MA  April 24, 2003  New England Business Service, Inc.
(NYSE: NEB) today announced that it has entered into a definitive
agreement to acquire Safeguard Business Systems, Inc.  Safeguard
Business Systems manufactures and markets a line of checks,
check-writing systems and business forms to small businesses
through a network of approximately 360 distributors in the U.S.
and Canada.  Safeguard Business Systems, headquartered in Dallas,
Texas, had revenues of approximately $158 million in 2002.

To acquire 100% of the stock of Safeguard Business Systems and
retire their debt, NEBS will pay $72.5 million in cash, subject
to a post-closing working capital adjustment.  The financial
impact of the acquisition in fiscal year 2003 is projected to be
minimal, but significantly accretive beginning in fiscal 2004.
The transaction is anticipated to close in early June 2003,
subject to regulatory and Safeguard Business Systems shareholder
approvals.

Mr. Robert J. Murray, NEBS Chairman and CEO, stated, "The
acquisition of Safeguard Business Systems will solidify NEBS'
leadership position in serving the small business market.
Through their relationships with distributors throughout the U.S.
and Canada, Safeguard Business Systems sells checks, check-
writing systems and various other business products to more than
600,000 active small business customers.  Their distributor
channel, and the product set they sell, are highly complementary
to the NEBS current business model.  The combination will provide
them access to our broad product line and present opportunities
to improve significantly the operating efficiencies of both
companies."

Mr. Mike Magill, President and Chief Executive Officer of
Safeguard Business Systems, commented, "Safeguard Business
Systems is pleased to be joining forces with New England Business
Service, Inc.  We believe this combination will capitalize on the
unique strengths of both companies.  In particular, we see
opportunities for expanded product offerings through our strong
network of local, independent distributors in the U.S. and
Canada.  We share NEBS dedication to quality and customer
service, and are excited about the potential of this
partnership."

New England Business Service, Inc. is a leading business-to-
business direct marketing company with 2.5 million active small
business customers in the United States, Canada, the United
Kingdom and France.  NEBS supplies a wide variety of business
products and services which are marketed through direct mail,
telesales, a direct sales force, dealers and the Internet. NEBS
also designs, embroiders and sells specialty apparel products
through distributors and independent sales representatives to the
promotional products/advertising specialty industry, primarily in
the United States.  More information about NEBS is available at
the Company's web site, www.nebs.com.

Safeguard Business Systems was founded in 1956 as a manufacturer
of commercial checking products.  Today they offer hundreds of
items to more than 600,000 small business customers across the
U.S. and Canada, including printed products, promotional items,
and corporate apparel.  Safeguard Business Systems delivers these
products through a network of more than 360 local distributors
who average 17 years of experience.  This extra effort ensures
that their customers have access to the product expertise and
personal service they need to run a successful business.  Learn
more at www.GoSafeguard.com.

This press release contains forward-looking statements, including
expectations for future revenue and earnings performance arising
from current trends in referenced product lines and channels, and
other initiatives.  These forward-looking statements reflect New
England Business Service, Inc.'s current expectations only, and
the Company expressly disclaims any current intention to update
such statements.  There can be no assurance that the Company's
actual results will not differ materially from those expressed or
implied by these statements due to various risks and
uncertainties, including the possible inability to complete the
Safeguard Business Systems acquisition, the risks and
uncertainties associated with successfully integrating the two
companies and retaining key personnel, changed customer
preferences or economic conditions affecting demand for the
Company's products, and other factors described in the New
England Business Service, Inc.'s Quarterly Report on Form 10-Q
for the fiscal quarter ended December 28, 2002, on file with the
Securities and Exchange Commission.