Danka To Pay Off Convertible Subordinated Notes Due April 1st

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Danka To Pay Off Convertible Subordinated Notes Due April 1st

Wednesday, March 20, 2002

Press release from the issuing company

ST. PETERSBURG, Fla.--March 19, 2002--Danka Business Systems announced that its 6.75% convertible subordinated notes due 2002 mature on April 1, 2002 and that Danka plans to pay the outstanding principal amount of $15,988,000 of 6.75% Notes in full on maturity, together with the accrued interest thereon, from Danka's available cash resources. The 6.75% Notes are convertible, subject to the terms and conditions of the indenture for the 6.75% Notes, into Danka's American depositary shares or, in the limited circumstances set out in the indenture, Danka's ordinary shares, up to 5.00 p.m. (New York City time) on April 1, 2002.

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