Xerox CEO to Investors: Annuity Business, Industry Leadership Both Solid

NEW YORK—Nov. 24, 2008—At its annual investor conference being held here today, Xerox Corp. (NYSE: XRX) is addressing how its annuity-based business model, strong operating cash flow and industry-leading document management services and technology are assets in tough economic times.

“Our value proposition is supported by the strength of our financial position and the resiliency of our recurring revenue stream,” said Anne Mulcahy, Xerox chairman and chief executive officer. “We’re managing our operations with a close eye on the bottom line. The restructuring actions we’re taking this quarter are expected to deliver $200 million in savings next year, giving us greater flexibility to operate even more efficiently and effectively in an uncertain economic environment.