IKON Office Solutions to Implement Six Sigma Initiative; Andrew Twadelle to Lead New Initiative as VP, Six Sigma

Business Wire, March 11, 2003

Business Editors/High-Tech Writers

VALLEY FORGE, Pa.--(BUSINESS WIRE)--March 11, 2003

IKON Office Solutions (NYSE:IKN), the largest independent distributor of document management products and services in the U.S. with operations throughout North America and Europe, today announced plans to develop and implement a Six Sigma initiative to drive increased customer satisfaction and process improvement. IKON executive Andrew Twadelle will lead the program as Vice President, Six Sigma, reporting directly to IKON's Chairman and Chief Executive Officer.

"IKON is focused on the needs of today's businesses, and we are working to align our internal structure and our processes to best meet our customers' needs and grow shareholder value," said Mr. Espe, Chairman and Chief Executive Officer. "Six Sigma is an extremely powerful methodology that has proven to increase customer satisfaction and overall productivity in many of today's leading businesses. I am confident that Six Sigma can be equally effective for IKON."

Six Sigma is a specific and disciplined business process designed to assist companies in increasing profitability by streamlining operations, improving quality and eliminating possible defects in every process company-wide. While traditional quality programs have focused on detecting and correcting defects, Six Sigma provides specific methods to re-create the process itself - starting from the customer's vantage point - so that any defects are effectively eliminated.

Mr. Twadelle is a seasoned business leader, with strong experience in corporate governance, reengineering, and customer-focused process improvement. In his most recent role as Vice President of Internal Audit at IKON, he effectively applied corporate governance practices throughout IKON, while also driving key business initiatives and process changes for the company. Prior to joining IKON, Mr. Twadelle was Director of Enterprise Risk Services for Deloitte & Touche LLP, where he worked with Fortune 1000 clients to identify and manage risk related to strategic, tactical, process and system areas. He also held management positions with Georgia-Pacific Corporation and Exxon, and participated in successful total quality management and reengineering projects for both companies. Mr. Twadelle holds a Bachelor of Science degree from Northeastern University, and an MBA from Houston Baptist University.

"Andrew is a valued member of IKON's senior team, with a strong commitment to our customers and a wealth of experience with quality assurance programs," continued Mr. Espe. "I am confident that he will do a great job implementing a strong Six Sigma initiative for IKON, which will enhance our focus on our customers and productivity."

In conjunction with this transition, IKON has promoted Neil Daniels to Vice President of Internal Audit. In his new role, Mr. Daniels will lead IKON's efforts to support efficient and effective operations, accurate financial reporting and compliance with laws and regulations. Most recently, Mr. Daniels served as IKON's Director of Accounting and Tax, and prior to joining IKON, he was Assistant Global Controller for Quaker Chemical Corporation and an Audit Manager at Price Waterhouse LLP. Mr. Daniels graduated magna cum laude from Temple University and is a CPA.

IKON Office Solutions (www.ikon.com) is a leading provider of products and services that help businesses manage document workflow and increase efficiency. IKON provides customers with total business solutions for every office, production and outsourcing need, including digital copiers and printers, color solutions, distributed printing, facilities management, and legal document solutions, as well as network integration, connectivity and custom workflow and imaging application development. IOS Capital, LLC, a wholly owned subsidiary of IKON, provides lease financing to customers and is one of the largest captive finance companies in North America. With Fiscal 2002 revenues of $4.8 billion, IKON has approximately 600 locations worldwide including the United States, Canada, Mexico, the United Kingdom, France, Germany, Ireland and Denmark.

This news release includes information which may constitute forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include, but are not limited to, statements relating to growing shareholder value, increasing profitability and customer satisfaction, enhancing productivity and successfully implementing the Company's Six Sigma initiative. Although IKON believes the expectations contained in such forward-looking statements are reasonable, it can give no assurances that such expectations will prove correct. Such forward-looking statements are based upon management's current plans or expectations and are subject to a number of risks and uncertainties, including, but not limited to: risks and uncertainties relating to conducting operations in a competitive environment and a changing industry; delays, difficulties, management transitions and employment issues associated with consolidation of, and/or changes in business operations; risks and uncertainties associated with existing or future vendor relationships; and general economic conditions. Certain additional risks and uncertainties are set forth in IKON's 2002 Annual Report on Form 10-K filed with the Securities and Exchange Commission. As a consequence of these and other risks and uncertainties, IKON's current plans, anticipated actions and future financial condition and results may differ materially from those expressed in any forward-looking statements.