Cambridge, MA — February 12, 2001 — Pageflex, Inc., announced today that it has entered into a Software Development and Licensing Agreement with Xerox Corporation under which Xerox has the right to resell Pageflex's Mpower and Persona software on a non-exclusive worldwide basis through Xerox's extensive sales channel. Pageflex's software will also be incorporated into a soon-to-be-announced solution from Xerox for the personalization and customization market. In addition, Pageflex has performed and will continue to perform certain development work for Xerox as part of this agreement.   "Pageflex has become a key strategic partner for Xerox in the areas of document customization and personalization," said Chris Bondy, Vice President/Chief Engineer, Variable Data Products and Solutions of Xerox. "We have been working closely with the Pageflex team to create new solutions for the personalization and customization market that are Internet relevant and optimized for the DocuColor 2000 Series Production Color Press. We're excited about the scalability of the Pageflex technology and our ability to offer Xerox customers 'basic' or 'advanced' solutions using the same core technology."   "Pageflex and Xerox have a long-term commitment to producing highly effective solutions for the growing personalization and customization market as evidenced by the signing of this Agreement," said Sang Lee, Vice President of Sales and Marketing of Pageflex. "As a leader in business hardware, software, and services, Xerox is in an ideal position to help its customers output sophisticated, customized documents created using Pageflex technology to create a powerful CRM solution."