Tokyo - November 1, 2008 - Ricoh Company, Ltd. announced that it completed its previously announced acquisition of IKON Office Solutions, Inc. ("IKON") through RICOH's wholly owned U.S. distribution subsidiary, Ricoh Americas Corporation ("RAC") on October 31, 2008 (EST).

1. Acquisition outline

Target:

IKON Office Solutions, Inc.

Acquisition Process:

The transaction was implemented by merging an acquisition subsidiary wholly owned by RAC, Keystone Acquisition, Inc. with and into IKON. Post merger, only IKON remains.

Acquisition Price:

U.S. $1.632 billion (approx. JPY 163.2 billion) based on an offer of U.S. $17.25 per share.

*Exchange rate is U.S. $1 = JPY100.00 based on our assumption for the third and fourth quarter.

2. Expected impact on Ricoh consolidated business results for the year ending March 31, 2009

We expect that revenue will increase by JPY 143 billion over and above the JPY 2,150 billion projected on October 28, 2008.

We do not foresee any material impact on operating income, income before income taxes and net income.

*The Company bases the forecast estimates for the fiscal year ending March 31, 2009 above upon information currently available to management, which involves risks and uncertainties that could cause actual results to differ materially from those projected.