Global Imaging Acquires Blackstone Valley Office Systems

Business Wire, June 29, 2007

Global Acquisition Program Continues after Merger into Xerox

TAMPA, Fla. -- Global Imaging Systems, Inc., a wholly owned subsidiary of Xerox Corporation (NYSE: XRX), announced today that it has acquired Lincoln, R.I.-based Blackstone Valley Office Systems, as Global continues its acquisition program after merging into Xerox last month.

The acquisition provides office technology solutions through sales and service of multifunction products, fax and shredders and now will also offer a full range of Xerox document management systems in addition to their current product lines. Blackstone will continue to serve mid market customers in the Providence and northern Rhode Island areas as a satellite of Conway Office Products, a Global core company based in Nashua, N.H.

Michael Shea, Global Imaging president and chief operating officer, said, "This strategic acquisition of another independent dealer not only strengthens our growing market position in New England, but also continues our disciplined, ongoing effort to fill out our dealer network in the top 250 markets in North America."

Paul Mosley, Conway president, said, "With Blackstone, Global now has an uninterrupted service territory from the Carolinas through Maine. The acquisition also adds to Conway's density of customers and machines in field (MIF)."

Former owner Bruce Barlow, who continues as president of Blackstone Valley Office Systems, said, "We are excited about joining the Xerox-Global team and working with the Conway organization. Global's emphasis on customer service and its benchmark operating model are well known in the industry. Our management and employees look forward to utilizing Global's strengths and applying the company's best practices to take us to the next level."

About Global Imaging Systems

Global Imaging Systems focuses on small and mid-size businesses through 21 regional core companies in the U.S. that sell and service document management systems such as printers, copiers and multifunction devices; network integration services; and electronic presentation systems. As an office technology dealer, Global sells products from various suppliers including Xerox, Sharp and Konica Minolta. Xerox acquired Global Imaging earlier this year and operates it as a wholly owned subsidiary within Xerox's North American operations.