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Fortune Names Xerox a Top 50 Company for Minorities

Press release from the issuing company

STAMFORD, Conn.--June 27, 2003-- For the sixth consecutive year, Xerox Corporation has been named to Fortune magazine's list of "50 Best Companies for Minorities," reflecting the company's consistent efforts to support an inclusive environment both inside and out. Xerox was noted for its sponsorship of scholarships for minority students pursuing technical or engineering degrees as well as its work-study internships. In addition, about one-third of Xerox's U.S. work force consists of minorities, and nearly one-quarter of its officials and managers. At No. 13, Xerox also was the highest-ranked technology company on the 2003 list. Fortune compiled results for its sixth annual list by surveying the Fortune 1000 plus the 200 largest private employers. Companies were evaluated on minority representation in the overall work force, among the highest-paid employees and among new hires, as well as on overall diversity programs, corporate philanthropy and commitment to using minority- and women-owned businesses as suppliers. "Anyone who believed that corporate America's devotion to diversity would wilt in the face of hard times should take a look at this year's Top 50," Fortune reports in its upcoming July 7 issue. "It has outdone the 2002 list across the board." Consistently recognized over the years for its leadership role in diversity, Xerox has a comprehensive set of diversity programs to support its goals, including balanced work force initiatives, minority and women supplier programs, six independent employee caucus groups, minority scholarship programs, an array of work-life benefits and other activities. In addition to the Fortune citation, Xerox this week received the 2003 Corporation of the Year award from the Upstate New York Regional Minority Purchasing Council Inc., for Xerox's continuing commitment to a world-class supplier diversity program. In 2002 Xerox purchased more than $20 million of goods and services from minority business enterprises in the upstate New York region, and provided educational opportunities through workshops, training classes and scholarships. Yesterday, Xerox received the Corporate Leadership Award from the Urban League of Southwestern Connecticut Inc. The award is given annually to companies that "best exemplify support for the goals and values of the Urban League movement." The Xerox Foundation has supported the Urban League for more than 25 years, and Xerox people have actively served as leaders and as volunteers for the organization.