Valley Forge, Pennsylvania -December 6, 2001- IKON Office Solutions announced today that it has been awarded a five-year, multi-million dollar contract with the State of Michigan to provide a comprehensive document output management solution. The contract was awarded to IKON following a competitive bid process designed to obtain document output management services to support all 20 state departments. As part of its complete document output management solution, IKON will convert, over a period of time, the State of Michigan's current analog copier technology to a wide array of digital devices, including digital copier/printer devices, network printers, faxes and scanners. IKON will also provide fleet management services to support and maintain all devices. Under the contract, IKON will conduct a site-by-site analysis to determine the document and workflow needs of each work area in each contracting state department. Based on these consultative assessments, IKON will recommend and deliver an efficient, cost-effective mix of products and services customized for each work area. IKON will provide these products and services to implement the State of Michigan's document output management program, which is designed to provide a comprehensive, managed approach for end users to produce document output using digital, multi-functional technology. By outsourcing document output management services to IKON, the State of Michigan seeks to realize more effective management of its output devices. "We are excited about the opportunity to put IKON's consultative approach and breadth of offerings to work for the State of Michigan," said Cathy Lewis, Senior Vice President of Marketing for IKON Office Solutions. "This relationship again demonstrates the benefits of IKON's commitment to create total solutions for organizations looking to streamline document output management enterprise-wide in order to reduce document-related expenses while increasing production efficiency." "Here is an opportunity for the state, through thorough analysis, to better define its document workflow and find the best output management solutions at the best value," said Duane Berger, Director of the Department of Management and Budget for the State of Michigan. As part of its fleet management services, IKON will continue to reassess the document output needs of each work area on an ongoing basis and provide solutions to meet specific state needs as they arise. This analysis may include identifying and implementing new technologies to optimize workflow and productivity for the state. In addition, IKON will provide the state with a more accurate, centralized inventory of equipment and supplies for improved management of document workflow and production. Other tools to support the state include a single toll-free number for all service needs, electronic billing through EDI (electronic data interchange) and a customized Web site providing information about the program to state employees. IKON Office Solutions (www.ikon.com) is one of the world's leading providers of products and services that help businesses communicate. IKON provides customers with total business solutions for every office, production and outsourcing need, including copiers and printers, color solutions, distributed printing, facilities management, imaging and legal document solutions, as well as network design and consulting, e-business development and technology training. IOS Capital, Inc., 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 2001 revenues of $5.3 billion, IKON has approximately 600 locations worldwide including the United States, Canada, Mexico, the United Kingdom, France, Germany, Ireland and Denmark.