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Ikon Named Exclusive Provider of Equipment/Services by McKesson Corp.

Press release from the issuing company

Five-Year, Multi-Million Dollar Contract Includes Outsourcing of Print and Mailroom Facilities Valley Forge, Pennsylvania - October 16, 2002 - IKON Office Solutions (NYSE: IKN) announced today that it has been selected by McKesson Corporation, the world's leading healthcare services company, as its partner for strategic document management solutions. The national contract names IKON as the exclusive provider of office equipment and services for McKesson's 250 U.S. locations. Under the agreement, IKON will conduct a comprehensive document and workflow analysis, on a site-by-site basis, to develop a custom solution consisting of the optimum combination of products and services for each location. Based on the specific needs, IKON will provide services that include staffing and management of on-site copy and mail centers and off-site print production services. In addition, IKON will provide and maintain digital multi-function equipment (copier/fax/scanner/printer) manufactured by Canon and Ricoh. "We set the bar very high when we began our search for an office equipment provider. It was important for us to find a partner that would help us realize our goals for cost savings at the same time as ensuring that we maintained quality equipment and high standards of service - all on a national level," said Kim Salley, VP, Corporate Procurement at McKesson Corporation. "IKON has proven to us that they not only understand our needs, but they have the ability to manage and execute the strategy that will put us where we want to be." "We are excited about the opportunity to put IKON's scope, our consultative approach and our breadth of offerings to work nationally for McKesson," said Dennis LeStrange, Senior Vice President and head of IKON North America, IKON Office Solutions. "IKON's full range of business communications solutions will allow us to support McKesson's document management goals in cost-effective ways ideally suited to the needs of each individual site. Whether it's through the use of our on-site and off-site print production capabilities or an array of equipment offerings, IKON can help streamline and optimize McKesson's document workflow and production process."