Xerox Board Declares Dividends on Common and Preferred Stock

Business Wire, July 13, 1998

STAMFORD, Conn.--(BUSINESS WIRE)--July 13, 1998--Xerox Corporation's Board of Directors today declared quarterly dividends on the company's common and preferred stock, both unchanged from the previous quarter and payable Oct. 1 to shareholders of record Sept. 4.

Payments will be 36 cents per share on the common stock and $1.5625 per share on the Series B convertible preferred stock, issued in 1989 in connection with the Xerox employee stock ownership program.

The common stock dividend is the 203rd consecutive quarterly dividend disbursement declared by Xerox. -0-

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   CONTACT:  Xerox Corporation
              Judd Everhart
              203 968-3572