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IKON Chairman Recaps Strategy at 2004 Annual Shareholders Meeting

Press release from the issuing company

VALLEY FORGE, Pa.--Feb. 24, 2004--Matthew J. Espe, Chairman and Chief Executive Officer of IKON Office Solutions, the world's largest independent channel for document management systems and services, today recapped its corporate priorities and plan for future growth that builds on IKON's unique market position and best-in-class document efficiency solutions and services. Mr. Espe's remarks were made during his presentation at the 2004 IKON Annual Shareholders Meeting in Malvern, Pennsylvania. At the meeting, shareholders approved the election of 12 members of the board of directors - Matthew J. Espe, Judith M. Bell, Philip E. Cushing, Thomas R. Gibson, Richard A. Jalkut, Arthur E. Johnson, Kurt M. Landgraf, Gerald Luterman, William E. McCracken, William L. Meddaugh, Anthony P. Terracciano and Marilyn Ware - to serve for the forthcoming year. In his presentation, Mr. Espe discussed IKON's strategic direction and growing importance as a strong sales and service channel for leading suppliers like Canon, Ricoh and HP. "Our market is reaching a point where the quality of services and support is as important as the quality of the products offered," commented Mr. Espe. "Utilizing a consultative approach that blends best-in-class technologies with value-add services provides IKON a tremendous advantage in our ability to offer customers a choice of cost-effective, reliable solutions that help create efficiencies at every phase of the document lifecycle." The full text of the 2004 Annual Shareholders Meeting presentation, accompanied by slides, is available on the Company's website, www.ikon.com, under Calendar & Presentations in the Investor Relations section. Mr. Espe also highlighted IKON's commitment to corporate governance and noted that according to the most recent Proxy Analysis conducted by Institutional Shareholder Services, the world's leading provider of proxy voting and corporate governance data services, IKON outperformed 99.4 percent of the companies in the Russell 3000 Index and 99.7 percent of the companies in the technology hardware and equipment group. The Company's corporate governance quotient is reflective of such factors as a majority of the Board being independent; the audit and compensation committee being comprised solely of independent directors; and the full board being elected annually.