UDC 517.53For the entire Dirichlet series f (z) = X 1 n=0 ane zλn , we establish necessary and sufficient conditions on the coefficients an and exponents λn under which the function f has the Paley effect, i.e., the condition lim supis satisfied, where M f (r) and T f (r) are the maximum modulus and the Nevanlinna characteristic of the function f, respectively.