The inventor of the basic xerographic process was a patent attorney, Chester Carlson. The purchase of his patents by the Haloid Company of Rochester, NY, led to the introduction of the world's first automatic plain paper office copier, Xerox model 914. The copier's success was the first of many for Xerox, heralding inventions in printing, electronic publishing and document processing.

The company has been issued 16,000 US patents, making it one of the largest intellectual property portfolios in the world. In the year 2003, the company was granted over 600 US patents. Xerox's IP covers a range of areas including material science, nanotechnology, software, personal computing technologies, image processing, materials handling, ink jet printing, document management, print processing, natural language, search, user interfaces and human factors design.

Today Xerox is a leader in the imaging and document management industry with customers worldwide, with its partnership with Fuji-Xerox. Xerox has investments of $1.5 billion per year in research and development. Xerox laboratories in the US, Canada and Europe employ 1,000 staff, including 11 scientists who have each been issued over 100 patents to their name.

Xerox has garnered numerous global awards in its history. Since 1980, Xerox and Fuji Xerox have won 25 national quality awards in 20 countries, including the world's three most prestigious. In the United States, Xerox is a two-time winner of the Malcolm Baldridge National Quality Award: for Xerox Business Services in 1997 and for Xerox Business Products and Systems in 1989. Xerox Europe, formerly Rank Xerox, won the first European Quality Award in 1992. Fuji Xerox won the Deming Prize, Japan's highest quality award, in 1980.

XEROX+IPVALUE
In 2003, Xerox Corporation appointed IPVALUE Management as the worldwide agent for the commercialization of its portfolio of intellectual property. IPVALUE's responsibilities include patent licensing, technology licensing and technology transfer, as well as ensuring that Xerox's Intellectual Property is protected.

"Our partnership with IPVALUE is a valuable asset to our business. With IPVALUE, we gain world-class expertise, resources and focus to maximize the proliferation of our patented technologies and enhance the return on our inventions to the benefit of our shareholders."

Herve Gallaire, President of the Xerox Innovation Group and Xerox's Chief Technology Officer

For more information visit www.xerox.com