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Xerox Corp. (BB63)

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Tuesday 22 October, 2002

Xerox Corp.

Xerox Strengthens Presence in 'Light Production' M

Xerox Strengthens Presence in 'Light Production' Market With High-Speed System for Print Shops and Large Offices 

   ROCHESTER, N.Y.--(BUSINESS WIRE)--Oct. 22, 2002--

               Xerox 1010 Offers Industry's Lowest Entry
             Price, Fast Speed and Finishing Capabilities

In a move that will help customers realize the benefits of digital
print technology, Xerox Corporation (NYSE: XRX) today announced its
latest entry in the 'light production' segment of the digital printing
market with a 101 page-per-minute black-and-white system designed for
large offices and small- to medium-size print shops. The Xerox 1010
offers customers a digital alternative that features the speed and
simplicity of a copier and the flexibility and finishing capabilities
of a light production-printing device.

The Xerox 1010 lists at $54,100 as a standalone digital copier, making
it the least expensive and most advanced system in its class.

'Xerox led the transition from analog to digital imaging technology in
the general office, and now we are helping customers make that
transition in the light-production segment,' said Mark Waxenberg, vice
president and general manager, Xerox Monochrome Business Unit. 'The
addition of this 101-ppm digital system strengthens our offerings in
this fast-growing market segment and also increases the expansive
breadth of Xerox digital technology.'

The Xerox 1010 produces black-and-white images with 600 x 600
dots-per-inch resolution. It can be used as a production digital
copier or can be connected to a network to provide a wide range of
printer features, including scan to TIFF, job build, store and
retrieval, and digital reprint capabilities. The Xerox 1010 is the
only product in its class with a scanner that can scan both
black-and-white and full-color documents. The scanner saves documents
as industry-standard TIFF files and scans the documents to a mailbox
embedded in the 1010. The files are retrieved via a computer on the
network.

In combination with the system's ability to run a variety of paper
stocks from up to seven separate paper-feeding trays - 16-lb. bond
paper (60 gsm) up to 80-lb. cover (220 gsm) - documents can be created
and finished quickly and easily within the one device. The Xerox 1010
offers an optional 150-sheet interposer, which can integrate
black-and-white and color pages into one document automatically so a
person does not have to collate pages by hand. The system allows
pre-printed color covers and/or inserts to be integrated with a
monochrome job run on the Xerox 1010.

For example, if a worker created a mostly black text-based report and
wanted to include select pages of color graphics or charts, a user
could simply print the color pages on another device and place the
color pages in the Xerox 1010's interposer. Using the easy-to-navigate
touch screen, the operator would program the 1010 to print the
black-and-white pages and indicate where the color pages should be
placed in the document. With one push of the button, a fully
integrated report would be created.

The Xerox 1010 comes standard with finishing capabilities, including
three-position single or dual stapling, and two-hole punching for
finished booklets, reports or catalogs. Three-hole punching is an
available option.

Pricing and Availability

The Xerox 1010 is list priced at $54,100 as a standalone digital
copier, including the finisher. A network-enabled Xerox 1010
copier/printer is list priced at $62,600 and includes the EFI Fiery EX
1010 controller, a workstation that processes jobs prior to printing.
Like the standalone digital version, the network-connected
configuration also is less expensive than comparable competitive
models. Options include the interposer, which lists at $650, the
high-capacity feeder, listing at $2,700 and three-hole punching,
listing at $400.

Order taking begins in selected major U.S. and Canadian markets in
November with deliveries before the end of the year. Order taking in
European markets begins in 2003. Sales, service and leasing will be
offered through the Xerox direct sales force and authorized sales
agents.

For additional information about The Document Company Xerox, please
visit our Worldwide Web site at www.xerox.com/investor.

This release contains forward-looking statements and information
relating to Xerox that are based on our beliefs as well as assumptions
made by and information currently available to us. The words
'anticipate,' 'believe,' 'estimate,' 'expect,' 'intend,' 'will' and
similar expressions, as they relate to us, are intended to identify
forward-looking statements. Actual results could differ materially
from those projected in such forward-looking statements. Information
concerning certain factors that could cause actual results to differ
materially is included in the company's Form 10-Q for the quarter
ended June 30, 2002, as filed with the SEC.

XEROX(R), The Document Company(R) and the digital X(R) are trademarks
of XEROX CORPORATION.

   Short Name: Xerox Corp.
   Category Code: MSC
   Sequence Number: 00001020
   Time of Receipt (offset from UTC): 20021022T131151+0100

                                                                                                                                                                                                                              

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