Xerox to Deliver 5,000 Color Printers to Edward Jones in Deal Valued At Nearly $20 Million

Business Wire, March 20, 2001

Business Editors/Technology Writers

NEW YORK--(BUSINESS WIRE)--March 20, 2001

Financial Services Firm Chooses Xerox Phaser 1235 Color Printers

as Part of Move from Black and White to Color

In its biggest-ever win in office color printing, Xerox Corporation (NYSE: XRX) today announced the purchase of 5,000 Xerox Phaser(R) 1235 color printers by financial services firm Edward Jones.

Edward Jones, the St. Louis-based financial services firm, made the purchasing decision based on Xerox's advanced color printing technology and ability to meet increasing requirements for color in offices worldwide. The new color printers will provide Edward Jones investment representatives with a superior tool to better serve their clients.

With the close of this deal, Edward Jones will begin an initial deployment of 5,000 printers with plans to migrate nearly 7,000 existing offices from black-and-white to color printing. Xerox color printers will be used in an additional 4,000 offices planned to open between now and 2003. Along with the 5,000 color network printers, Edward Jones is committed to purchasing related supplies from Xerox, bringing the total purchase value to nearly $20 million.

"Edward Jones has a clear focus on serving the needs of individual investors. Color printing clearly supports this goal by improving our ability to communicate with our clients," said Rich Malone, principal of information systems, Edward Jones. "Xerox simply has the best tools for the job."

As part of an ongoing business relationship, Xerox and Edward Jones worked together to identify a solution that met Edward Jones' color printing objectives, including high printing speed and superior image quality. Last November, Xerox set a new speed benchmark with the Xerox Phaser 1235 color printer. The Phaser 1235 features single-pass technology to deliver color documents at 12 pages per minute and 20 pages per minute in black and white. This is up to four times faster than existing color laser printers at full resolution (1200 dpi). In addition, the single-pass design of the Phaser 1235 offers increased reliability over laser printers because its imaging mechanism has fewer moving parts.

"We believe this is the largest-ever office color printer deal," said Gerry Perkel, president, Xerox Office Printing Business. "Today's announcement demonstrates our commitment to lead the transition from black-and-white to color printing in the office by leveraging the speed advantages of single-pass color printing technology."

Xerox is focusing on color as part of a turnaround plan that leverages the company's unrivaled range and leadership in color products and solutions from SOHO to the networked office to production printing environments.

Customer Contact: For information on Xerox network printers, call 877-362-6567 or visit www.xerox.com/officeprinting.> NOTE TO EDITORS: For more information about Xerox, visit www.xerox.com/news. XEROX(R), The Document Company(R) and the digital X(R) are trademarks of XEROX CORPORATION.