Xerox Investor Relations provides investors, financial analysts and potential shareholders clear, consistent and credible information about the company’s financial performance, strategic intent and expectations for long-term profitable revenue growth. We communicate with our shareholders in a timely manner, providing accurate, complete and publicly accessible information through press releases, Webcasts, quarterly earnings presentations, annual reports and Securities and Exchange Commission (SEC) filings. In 2008, our engagement with investors included these and other activities:

• More than 100 institutional investors, analysts and investment bankers participated in the company’s annual investor conference in New York City.
• Xerox executives participated in six brokerage conferences.
• Investors and analysts met with Xerox leaders at the AIIM/On Demand, drupa and GraphExpo trade shows.
• The company hosted 38 small group meetings with potential investors in major markets including Boston, Chicago, New York, San Francisco, Los Angeles, Philadelphia, Baltimore, Kansas City, London, Frankfurt, Zurich and Milan.
• Xerox executives spoke with investors/analysts through approximately 250 one-on-one meetings and phone calls.

2008 Investment Styles

Institutional investors hold more than 85% of Xerox’s common shares, with the top 10 investors holding about 50% of those shares. Xerox enforces a stringent policy on financial disclosure that helps ensure the company complies with applicable laws, including the U.S. Securities and Exchange Commission Fair Disclosure Rules (Regulation FD), which was enacted in 2000 to govern disclosure of material, non-public information to the investment community.

The financial disclosure policy is circulated to all corporate officers annually and shared in detail with Xerox’s country general managers and finance executives. It is also shared with communications and public relations professionals worldwide and is available at www.xerox.com/investor.