Florida-based Delta Business Systems helps form new IKON Office Solutions, creating leading U.S. office technology provider

Business Wire, Dec 26, 1996

ORLANDO, Fla.--(BUSINESS WIRE)--Dec. 26, 1996--

Company now employs 1,600 statewide, with projected revenues

of $270 million

Orlando-based Delta Business Systems, the southeast's largest independent distributor of office equipment, Thursday announced that it has combined operations with its parent company's other office solution subsidiaries to form IKON Office Solutions.

The move creates a unified network of more than 800 office locations nationwide, capable of providing the most technologically advanced office solutions in the world for Florida customers.

IKON Office Solutions (formerly Alco Standard), Valley Forge, Pa. is the largest independent marketer of office technology solutions in North America and the United Kingdom, with 1996 revenues of approximately $4.1 billion. Revenues are projected to be $10 billion by 2000. IKON, a Fortune 500 company, has been strategically purchasing office technology companies worldwide since 1983 in order to create the combined IKON force.

Since 1987, Delta Business Systems has been part of Alco Standard, which is changing its name to IKON Office Solutions in February 1997. Its New York Stock Exchange (NYSE) symbol will be IKN and will be effective in February 1997.

"By expanding our existing copier base and aggressively building our strength in office solutions, outsourcing (managing and operating on-site document support centers) and digital networking, we are poised to offer Delta's existing Florida customers the most technologically advanced offices in the world," said Ramzi Jreidini, executive vice president of IKON Florida.

IKON Florida is phasing in the name change through marketing and a statewide advertising campaign from now through April 1997.

Delta employs 908 people and fiscal year 1996 revenues were $140 million. IKON Florida will employ approximately 1,600 people statewide and fiscal year 1997 revenues are projected to be $270 million.

"We believe Delta's customers will benefit directly from the news," said Jreidini. "Now, in addition to being the largest independent distributor of copiers, color copiers, high-volume duplicators and facsimile machines in the state, we will have the added benefit of offering customers network connectivity, imaging solutions and outsourcing expertise."

According to Jreidini, as today's business world moves from analog technology towards a digital, networked environment, customers need more than just office equipment and service -- they need a strategic ally to provide total office solutions. IKON will be able offer customers throughout Florida new, enhanced services such as local area networking (LAN), wide area networking (WAN), broadcast facsimile, digital print systems and reprographics centers.

Jreidini said that all seven IKON Florida markets (map available upon request) will be led by local presidents who have the autonomy to manage sales and service functions in their respective markets. "Although we now have all the resources of a global competitor, it is imperative to our customers that decisions concerning their office products be made on a local basis," Jreidini said.

IKON's seven Florida markets are divided by region -- they are: Fort Lauderdale/West Palm Beach/Boca Raton, Jacksonville, Melbourne, Miami, Orlando, Tallahassee and Tampa. In addition, Delta Business System's former 11 branches will now be expanded to 30 branches under the IKON name. Other Florida companies that are now part of IKON Office Solutions are: Complete Business Systems of West Palm Beach, Basetec and SOS of Tampa, Omni of Melbourne, Sun International of Fort Lauderdale and Vantage of Orlando. -0-

EDITORS'S NOTE: 4-Color Map Showing IKON's Florida Market Available Upon Request.

CONTACT: CRAMER-KRASSELT

Damien Enderle, 407/236-8300