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Danka Seeks to Raise $175 Million

Press release from the issuing company

ST. PETERSBURG, Fla.--June 10, 2003-- Danka Business Systems PLC today announced it is proposing to offer $175 million of senior notes due 2010. Danka proposes to use the net proceeds of the offering to repay outstanding indebtedness under Danka's existing bank credit facility, to redeem its zero coupon senior subordinated notes due 2004 and for general corporate purposes.