Hanover, MA…November 12, 2003 - According to I. T. Strategies, in 2002 narrow format ink jet printers generated $29 billion worldwide in retail revenues from hardware, ink and media. This is expected to grow to retail revenues of almost $43 billion by 2007. Ink currently is -- and will continue to be -- the largest segment: 50% of the market ($14 billion) in 2002 and growing to 56% of the market ($24 billion) by 2007. Media will increase from 12% of the market ($3.6 billion) in 2002 to 15% ($6.3 billion) by 2007. Hardware revenue – driven by continually decreasing prices -- will decrease from 38% of the market ($10.7 billion) in 2002 to 29% ($12.5 billion) in 2007. The active installed base of narrow format ink jet printers (both standalone and multifunction) is forecast to grow from 144 million units in 2002 to almost 192 million in 2007. Although more than 80% of the installed base throughout the forecast period are standalone narrow format ink jet printers, the growth in the segment will come from multifunction devices. According to Marco Boer, a Consulting Partner with I. T. Strategies, the profits are in multifunction devices, which over the forecast period will generate more than 35% more revenue (hardware + ink + media) than standalone ink jet printers as users have the ability to both print and copy in color as well as fax.