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Xerox Renews Agreement with VHA; To Boost Revenue to $500 Million Over 5 Years

Press release from the issuing company

ROCHESTER, N.Y., March 8, 2001  -- Xerox Corporation (NYSE: XRX) has renewed a five-year outsourcing agreement with VHA Inc., a nationwide network of community-owned healthcare systems and physicians. Xerox projects that the agreement will generate annual revenue in excess of $93 million, when combined with an existing contract with Novation, the supply chain company of VHA and the University HealthSystem Consortium. "All told, Xerox's agreements in place with VHA members and Novation are expected to generate an estimated $500 million in revenue over the life of the contracts," said Mike MacDonald, president, Xerox North American Solutions Group. "This renewal is proof of VHA's continuing confidence in Xerox as its business partner in offering services, solutions and products to a membership that represents nearly 30 percent of the not-for-profit healthcare industry nationwide." Xerox's outsourcing portfolio, which includes solutions, services, software and products, will offer VHA's 2,100 members the tools needed to maintain and improve knowledge management and document processing efforts. For example, Xerox's offerings help members manage policy and procedure manuals, and organize training and credentialing processes. The outsourcing agreement includes services offered by Xerox Connect and the management of document production systems, such as DocuTech and DocuColor printers and publishers, Document Centre digital multifunction systems, laser printers, facsimile products, analog copiers and supplies.

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