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Xerox Names Harry Beeth Controller, Corporate Officer

Press release from the issuing company

STAMFORD, Conn.--Aug. 27, 2002--Xerox Corporation today announced the election of Harry R. Beeth as corporate vice president and controller, effective Sept. 1. As controller, Beeth oversees the company's financial planning and analysis, accounting, internal controls and financial systems. Beeth joins Xerox after 32 years with International Business Machines, where he served in various senior finance positions including vice president of finance for IBM's multibillion-dollar server group and assistant controller. "Xerox continues to make tremendous progress in strengthening its global finance organization with a clear focus on accounting and internal controls as well as effective planning and analysis," said Lawrence A. Zimmerman, Xerox senior vice president and chief financial officer, to whom Beeth will report. "Harry's proven track record, critical skills and extensive experience in these areas contribute to the important role the finance organization plays in building value for Xerox stakeholders." Beeth, 57, joined IBM in 1967 as a general accountant and assumed increasingly responsible management and executive finance positions. He led the finance organization of IBM's server group from 1998 until his retirement in 2000. He was vice president of finance for IBM's microelectronics division from 1996-1998 and served as assistant controller for the corporation from 1994-1996. Beeth is a graduate of St. John's University in New York, where he earned a bachelor of arts degree in 1967 and a master's degree in business administration in 1970.