'Diversity Best Practices' Organization Recognizes Xerox for Diversity Leadership, Advocacy.

STAMFORD, Conn. -- Acknowledging Xerox Corporation (NYSE: XRX) and its longstanding leadership as a champion for diversity, Diversity Best Practices and The Business Women's Network have honored Xerox chairman and chief executive officer Anne M. Mulcahy with the 2004 Diversity CEO Leadership Award.

Mulcahy was one of 10 company CEOs to receive the award last night at an event in Washington, D.C. According to DBP/BWN, the Leadership Awards "showcase the nation's progressive business leaders for embracing diversity in markets, workforces and communities." Recipients selected are those who lead the way in workplace diversity; have demonstrated a vision for the future; and have supported community, philanthropic and supplier diversity initiatives.

Creating an environment of diversity and inclusion for Xerox employees, customers and suppliers has been a core value at Xerox since the 1960s.

"Xerox's effort to make diversity a business imperative as much as a social one is not only worthy of recognition, but is an extraordinary example for other companies to follow," said Edie Fraser, president and founder of Diversity Best Practices and the Business Women's Network. "Xerox takes advantage of every opportunity to create a business culture that is progressive and inclusive."

Xerox respects and promotes diversity through many company policies and practices: for example, supporting six independent employee "caucus groups," offering domestic partner benefits and work-life benefits, providing leadership training and development programs, maintaining a strong supplier diversity program, and granting scholarship support to minority students and schools.

Xerox's diversity record has frequently been recognized by external organizations over the years. Last year, Diversity Best Practices named Xerox among the top 10 U.S. companies in its report, Best of the Best: Corporate Awards for Diversity and Women 2003-2004. Xerox was also No. 10 in the "Top 50 Companies for Diversity" by DiversityInc magazine, No. 17 in Fortune magazine's list of "50 Best Companies for Minorities," and among the "top 30 companies for executive women" according to the National Association for Female Executives.

Diversity Best Practices and The Business Women's Network are Washington, D.C.-based organizations providing resources, publications, and benchmarking services for diversity and women in business.

For more information about Xerox and diversity, visit www.xerox.com/diversity.

For more information about Diversity Best Practices, visit www.diversitybestpractices.com.

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