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Xerox Cartridge Sales Top 3 Million, Reports 93% Customer Retention

Press release from the issuing company

ROCHESTER, N.Y., Xerox Corporation (NYSE: XRX) has sold more than 3 million compatible cartridges designed for Hewlett-Packard and other printers, just three years after entering the compatible supplies market. The supply line's outstanding success worldwide proves that printer owners do need and respect high-quality supplies alternatives that are more economical. It also reflects Xerox's leadership, innovation and expertise in the science of toner development and manufacturing. "Sales to date for Xerox-branded compatible cartridges are outpacing our projected plans. Last year alone, for example, revenue grew more than 40 percent worldwide," said Kam Shenai, vice president and general manager, Xerox Compatible Supplies Business Unit. "For Xerox, these sales represent all new business." Moreover, customer acceptance of the Xerox "It's Compatible" line of printer cartridges has been rising. Recent Xerox research in North America shows that of those customers who purchased a Xerox-branded compatible cartridge, 93 percent said they would likely purchase again. "This is an overwhelming customer endorsement," Shenai said, "especially in a market where there has traditionally been a reluctance to purchase a cartridge brand that differs from the equipment brand." Xerox "It's Compatible" cartridges, first introduced in late 1997, offer customers superb quality, reliability and cost savings. Customer warranty return rates are less than the industry standard of 2 percent. In addition, customers can purchase the cartridges at up to 20 percent less than the original equipment manufacturers' costs. All Xerox compatible cartridges provide print quality and yield that meets or exceeds original equipment manufacturer specifications, and they are backed by Xerox's 100% Performance Guarantee. Xerox plans to expand its compatible cartridge product portfolio throughout 2001 to continue to offer customers more choices in the printer supplies market. Currently, Xerox offers compatible cartridges for Hewlett-Packard, Canon, Apple and other brands of printers and fax machines.

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