Article: Anne Mulcahy Named Xerox Chief Executive Officer.

Business & Technology Editors

STAMFORD, Conn.--(BUSINESS WIRE)--July 26, 2001

"...a proven, dynamic leader who embraces change

and anticipates the future."

The Board of Directors of Xerox Corporation (NYSE:XRX) today appointed Anne M. Mulcahy as president and chief executive officer effective Aug. 1.

Mulcahy, formerly president and chief operating officer, succeeds Paul A. Allaire as chief executive officer. Allaire continues as chairman until his retirement at the end of this year.

"This leadership transition is consistent with the Board's plans developed last year when I returned as CEO and Anne was named president ...

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