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Ricoh Merges Business Units and Consolidates Brands, Lanier

Press release from the issuing company

WEST CALDWELL, N.J., March 14 -- Ricoh Corporation today announced the merger of business units, the consolidation of two brands and the formation of Ricoh Americas Corporation through the consolidation of Ricoh Corporation and Lanier Worldwide, Inc. The new organizational structure will take effect April 1, 2007. This consolidation will streamline the new Ricoh Americas Corporation and ensures it will provide customers with the most comprehensive solutions and services. It will also combine the strengths and resources of the two companies to better address customers' document management challenges. As a result of this announcement, three main changes will be effective April 1, 2007: -- Ricoh Corporation and Lanier Worldwide, Inc. will legally merge to form one company called Ricoh Americas Corporation. The U.S. business unit of Ricoh Americas Corporation will continue to be known as Ricoh U.S. -- Lanier's direct sales channel will combine with the Ricoh U.S. direct sales channel, to form one Ricoh U.S. direct organization with the new name Ricoh Business Solutions. Lanier's direct sales channel will begin a transition from selling Lanier branded products and services to selling Ricoh branded products and services. -- Ricoh's Gestetner dealer network in the U.S. will merge with the Lanier dealer network and form a new national dealer network selling Lanier branded products. The Gestetner brand will be phased out in the United States. "Establishing this new unified organization enables Ricoh to redefine our company and our business," said Sam Ichioka, Chairman & CEO, Ricoh Americas Corporation. "As one company, we will be able to deliver a broader portfolio of products, solutions and services, as well as become a more powerful Ricoh partner for all customers." "By uniting Gestetner and Lanier's dealer's strengths, capitalizing on their heritage and continuing to leverage the advanced technology and global scope of our parent company Ricoh Company Ltd., we are able to offer a strong brand and more comprehensive resources to our customers," Ichioka added. In addition to the Lanier dealer brand, Ricoh Americas Corporation will continue to provide advanced Ricoh and Savin branded hardware and software solutions through its network of independent Ricoh and Savin dealers, as well as through IKON Office Solutions, Inc. In addition to Sam Ichioka, the executive management team of the newly formed Ricoh Americas Corporation includes: Nori Goto who will serve as vice chairman. Mr. Goto will also retain his current position as chairman & CEO of Ricoh U.S., the U.S. business unit of Ricoh Americas Corporation. Tom Salierno continues in his position as the president & COO in the Ricoh U.S. division. Alan Nielsen, the current vice president of Indirect and Major Accounts Division for Ricoh U.S., will become executive vice president of the Ricoh U.S. Indirect Division. Barry Ward, Lanier's current vice president of National Sales, will become executive vice president for the organization's direct division with the new name Ricoh Business Solutions.