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Xerox and Pitney Bowes Settle Patent Infringement Case

Press release from the issuing company

STAMFORD, Conn.--Sept. 19, 2002--Xerox Corporation and Pitney Bowes Inc. announced today that they have resolved their pending patent infringement litigation on mutually acceptable terms. While details of the settlement agreement are confidential, Xerox denied any infringement. The company will make a one-time payment to Pitney Bowes in an amount that is not material to Xerox. Pitney Bowes sued Xerox in June 2001 in the United States District Court for the District of Connecticut claiming infringement on a Pitney Bowes patent. The patent in question expired on May 31, 2000, which precludes any ongoing licensing agreement.