About Xerox With sales approaching $23 billion, Xerox is the worlds leading enterprise for business process

and document management. Its technology, expertise and services enable workplaces, from small businesses to large global enterprises. Headquartered in Norwalk, Conn, Xerox offers business process outsourcing and IT outsourcing services, including data processing, healthcare solutions, HR benefits management, finance support, transportation solutions, and customer relationship management services for commercial and government organizations worldwide. The company also provides extensive leading-edge document technology, services, software and genuine Xerox supplies for graphic communication and office printing environments of any size. The 140,000 people of Xerox serve clients in more than 160 countries. Recent Xerox Declares Increase in Quarterly Dividend on Common Stock Xerox's board of directors today declared a 35 percent increase in the companys quarterly cash dividend to 5.75 cents per share on Xerox common stock. The dividend is payable on April 30, 2013 to shareholders of record on March 28, 2013. The board also declared a quarterly cash dividend of $20 per share on Xerox Series A Convertible Perpetual Preferred Stock. The dividend is payable on April 1, 2013 to shareholders of record on March 15, 2013. Xerox Strengthens Leadership in Production Color Printing Through Acquisition of Industrial Inkjet Provider - IMPIKA Xerox has acquired Impika, a leader in the design, production and sale of production inkjet printing solutions used for industrial, commercial, security, label and package printing. Impika offers a portfolio of aqueous (water-based) inkjet presses based on proprietary technology. Impika product lines include iPrint, a range of continuous feed production printers that print at speeds as fast as 375 meters per minute, and iP ress, a range of graphic communications digital presses with resolutions of up to 2400 x 1200

dpi. Impika, based in Aubagne, France, sells its products to print providers through its direct sales force and through a global network of channel partners, including Xerox, which has been reselling the Impika brand in Europe since 2011, and recently expanded to several developing markets. In addition to Xeroxs existing xerographic production presses, the company developed and markets the worlds only high-speed waterless inkjet presses, the Xerox CiPress Production Inkjet Systems. The production inkjet market is projected to grow 21 percent annually through 2015, according to market research firm I.T. Strategies. By adding Impika technology to its offerings, Xerox will now go to market with the industrys broadest range of digital presses, strengthening its leadership in digital color production printing. Terms of the transaction were not disclosed.

2012 Patent Filings Rank Xerox among the Worlds Top Innovators Xerox received 1,215 U.S. patents in 2012, ranking the company as one of the worlds top innovators and fueling its drive to find new ways to simplify the way work gets done. The 2012 tally includes patents from Xerox and its wholly-owned subsidiaries, including the Palo Alto Research Center (PARC), A Xerox Company. Xerox's joint venture in Japan, Fuji Xerox Co. Ltd., received 686 U.S. patents in 2012. When combined, the Xerox group garnered 1,900 U.S. patents, which would have placed Xerox in the top 10 on the IFI Patent Intelligence list worldwide. This issuance is up almost 300 patents over last year, an increase of more than 17 percent. Patents are an important measure of our continued investment in innovation but more importantly, its the people behind the patents who turn these inventions into powerful solutions for our clients, said Sophie Vandebroek, Xerox chief technology officer and president of the Xerox Innovation Group. Were tapping into the creativity and customer-focus of our scientists and engineers to apply innovation in ways that not only advance our document technology but also simplify complex business processes

through Xeroxs diverse services in industries such as health care finance, customer care and transportation. Xeroxs prolific researchers have filed over 60,000 patents around the world since 1930. The company recently recognized 12 scientists for reaching personal patent milestones, which in total represent 1,550 patents over the past few years. In addition to the National Medal of Technology, the highest honor awarded by the President of the United States, Xerox has received a number of innovation awards including being named to Thomson Reuters' 2012 listing of the World's 100 Most Innovative Companies. Together, Xerox and Fuji Xerox invest about $1.5 billion annually in research, development and engineering.

Xerox Go Green Environment, Health, Safety, and Sustainability For more than a half a century, Xerox has been a leader in document technology and services. We continue to build on this heritage of innovation. Through our acquisition of Affiliated Computer Services, we now are the worlds leading enterprise for business process and document management, offering global services from claims reimbursement and automated toll transaction to customer care centers and HR benefits management. The new Xerox is dedicated to innovation, service and giving our customers the freedom to focus on what matters most: your real business. At Xerox, sustainability is our way of doing business. We have aligned our goals for the environment and health and safety in five key areas to make an impact across our value chain worldwide. Together with our suppliers, customers, and stakeholders we strive to maintain the highest standards to preserve our environment and protect and enhance the health and safety of our employees and communities.

Reduce energy use to protect our climate We reduce carbon emissions by cutting energy use in Xerox facilities and provide energy-efficient products and solutions to our customers

Preserve biodiversity and the worlds forests Xerox works with partners to advance a sustainable paper cycle through environmentally sound paper offerings, advances in forest management standards, and products and services that reduce offices dependency on paper.

Preserve clean air and clean water We are committed to eliminating the use of toxic materials and heavy metals from our product supply chain.

Prevent and manage waste Xerox products are designed to use resources efficientlyminimizing waste, and reusing or recycling materials.

Customer Financing Xerox finances a large portion of their direct channel customer purchases of Xerox equipment through bundled lease agreements. Financing facilitates customer acquisition of Xerox technology and enhances their value proposition, while providing Xerox an attractive gross margin and a reasonable return on its investment in this business. Additionally, because Xerox primarily finance their own products and have a long history of providing financing to their customers, which they able to minimize much of the risk normally associated with a finance business. Because our lease contracts permit customers to pay for equipment over time rather than at the date of installation, Xerox maintain a certain level of debt to support its investment in these lease contracts. Customer financing activity was funding through a combination of cash generated from operations, cash on hand and proceeds from capital market offerings. At December 31, 2011, we had $6.4 billion of finance receivables and $0.5 billion of equipment on operating leases, or Total Finance assets of $6.9 billion. Xerox maintain an assumed 7:1 leverage ratio of debt to equity as compared to their Finance assets, which results in a significant portion about $8.6 billion of debt being associated with its financing business.