Exhibit 10





						Date: November 19, 1996

Mr. John Fairbanks, CFO
New England Business Service, Inc.
500 Main Street
Groton, MA 01471

Dear John:

	We are pleased to inform you that the necessary internal approval has
been obtained for the establishment of an informal "money market" lending 
arrangement with NEBS. Loans under this arrangement will be at fixed rates 
quoted by the The First National Bank of Boston with maturities of up to thirty
days. Prepayment of loans will not be permitted and if any loans are paid on 
a date other than the maturity date thereof (whether by acceleration or 
otherwise), you shall compensate us for any funding losses and other costs
(including lost profits) incurred as a result of such payment. Each loan must
be at least $1,000,000 and aggregate loans under this arrangement may not exceed
$10,000,000. This arrangement is not a commitment to lend, and from time to time
the Bank may not quote rates on some or all maturities.

	We agree that upon your advice by telephone from time to time to our 
Money Market Desk at (617) 434-7725 that you wish to borrow money under this
facility and our agreement to lend, we will forthwith lend you such amount at 
the quoted rate of interest by crediting such an amount to your demand deposit
account with us, or, upon your instructions, by wiring such amount to such other
account as you may direct. Borrowings shall be evidenced by a Promissory Note in
the form attached hereto. Each borrowing and the corresponding information (see
attached note schedule) will be recorded the day of the telephone call. Our 
corresponding advices of credit and debit will be additional evidence of 
borrowings. You authorize us to keep the official record of all borrowings under
this "money market" lending arrangement in the format described above, and you
agree that this record shall be prima facie evidence of the amount of the 
borrowings under this facility.

	This letter and the Promissory Note evidence your promise to pay all 
such borrowings with interest on their respective maturity dates.

	This "money market" lending arrangement remains in force until 
October 31, 1997.

If the foregoing satisfactorily sets forth the terms and conditions of this 
lending arrangement, please indicate your acceptance thereof by executing and 
returning the attached copy of this letter and the attached Promissory Note, 
along with a $5,000 facility set-up fee.


						Sincerely,

						/s/Christopher D. Francis
						-------------------------
						Christopher D. Francis
						Vice President



Accepted:

BY:    /s/John F. Fairbanks
       --------------------
TITLE: Vice President & CFO

Date:  November 20, 1996