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Xerox Receives $500 Million Financing Commitment, Secured By Inventory

Press release from the issuing company

STAMFORD, Conn.--June 5, 2001--Xerox Corporation (NYSE: XRX) today announced that it has received a commitment letter from Bankers Trust Company, a subsidiary of Deutsche Bank, for a fully underwritten secured revolving borrowing facility of $500 million. The financing will be secured by Xerox's North American inventory. "This agreement provides further evidence of Xerox's improved financial strength and liquidity," said Paul A. Allaire, Xerox chairman and chief executive officer.