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Kinkos Restructures Corporate Staff, To Move Headquarters to Dallas Area

Press release from the issuing company

VENTURA, Calif., Oct. 16 -- Kinko's, Inc., the world's leading provider of document solutions and business services, today announced the first phase of a new strategic plan that will position the company for future growth by identifying new areas of opportunity and ways to contain costs. As part of this plan, the company will relocate its corporate headquarters to a yet to be determined North Texas location and will adjust its field support structure and staffing to align with current and future needs. "These changes are required to strengthen and refocus our business so that Kinko's can more effectively serve its expanding customer base,'' said Gary Kusin, Kinko's president and chief executive officer. "The headquarters relocation has both economic and practical benefits for a company with more than 1,100 locations worldwide: a centralized location with a favorable business environment, a lower total cost of doing business, a competitive tax structure, and decreased travel costs and time. The staffing changes are a result of the need to right-size the organization and apply our resources wisely.'' Between now and the end of 2002, Kinko's will gradually transition a significant portion of the Kinko's Field Support Organization from Ventura, Calif., to North Texas. The company's main Ventura, Calif. facility will continue to house the company's technology and operational accounting departments for the foreseeable future. This includes approximately 300 team members. The organizational changes being announced today will result in the immediate reduction of approximately 350 field support positions, primarily from human resources, technology and operations support. This represents a headcount reduction of less than two percent and does not affect the branch or field management structure in any way. All departing team members are receiving competitive severance packages and outplacement support services. "This two-pronged transition will be a difficult change for our Ventura County team members and field staff functions, all of whom have worked hard over the years as part of our Kinko's family. We regret the impact such a business decision has on the lives of our people,'' said Kusin. "However, these changes are necessary to ensure the ongoing success of our company for all Kinko's team members around the world.'' About Kinko's Kinko's is the world's leading provider of document solutions and business services. Its global network of more than 1,100 digitally connected locations offers 24-hour access to technology for color printing, finishing and presentation services, Internet access, videoconferencing and Web-based on-demand printing and document management solutions. Named for the third consecutive year as one of Fortune's "100 Best Companies to Work for in America,'' Kinko's is a privately held corporation with more than 25,000 team members and locations in nine countries. It is headquartered in Ventura, Calif. For more information, please visit http://www.kinkos.com.

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