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Xerox Cuts Price On Color Presses in Move to Extend Market Leadership

Press release from the issuing company

ROCHESTER, N.Y.--June 7, 2001-- To expand market share gains and extend its color leadership, Xerox Corporation (NYSE: XRX - news) has reduced prices on its popular DocuColor 2000 Series digital color presses and the Phaser 750 network color printer. The move follows recent independent market research showing the company increased market share in 2000 in key color segments in the United States and Europe. Since its introduction last year, the DocuColor 2000 Series' excellent market acceptance has resulted in manufacturing efficiencies that have lowered costs. Xerox is passing these savings along to customers. Effective immediately in the U.S., the list price has been dropped $7,000, or up to 7 percent, on the DocuColor 2045 and 2060. The DocuColor 2045 went from $98,000 to $91,000, and the DocuColor 2060 was reduced from $143,000 to $136,000. The price of the DocuColor 2000 optional scanner was also decreased by $7,000 to $19,000. "We expect to protect and expand this market by making it easier for customers to own the premier products and transition to digital color printing,'' said Gerhard Moll, senior vice president and general manager, Xerox Color Solutions Business Unit. "The DocuColor 2000 Series presses deliver better productivity and produce high-quality prints on a wider range of paper stocks and weights than any other product on the market.'' In addition, the estimated retail price (ERP) for Xerox's Phaser 750 color laser printer has been reduced by $200 to $1,999, making it an economical choice for network office workgroups. And through June 30, Xerox is offering a $500 end-user rebate on its Phaser 1235 color printer, which offers speed and media flexibility for medium and large workgroups. The product has an ERP of $3,499. Success in Xerox color products continues to power the company's turnaround. DocuColor 2000 installations in 2000 exceeded projections by 25 percent. And in the first quarter of 2001, the company posted year-over-year color revenue increases close to 20 percent, led by strong placements of the DocuColor 2000 Series, the DocuColor 12 color printer/copier and Phaser color network printers. According to the latest independent research, Xerox came into 2001 with momentum from record placements in digital color copying and printing in 2000. Don Dixon of Gartner Group's Dataquest said, "Xerox's market share in the 11-to-40 pages-per-minute segment of the U.S. market jumped from 26 percent in 1999 to 40 percent in 2000.'' He added, "In fact, this places Xerox squarely in the leadership position of the fastest growing segments of the color copying/printing space, and in the best position to reap the revenues associated with this very productive part of the market.'' New CAP Ventures figures also show Xerox's dominance in U.S. color production printing market, with an 85 percent market share in 2000. The segment includes color devices that print at 24 ppm or more, such as the DocuColor 2000 Series products. Xerox color copiers also fared well last year in Western Europe, according to CAP Ventures Ltd. It reports that Xerox increased its market share from 24 percent in calendar year 1999 to 38 percent in 2000 in color laser copying.

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