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Daisytek International Named to Russell 2000 Index.

Business Editors

ALLEN, Texas--(BUSINESS WIRE)--July 10, 2001

Frank Russell Company has added Daisytek International Corporation (Nasdaq:DZTK), a $1.2 billion wholesale distributor of computer and office supplies and provider of marketing and demand-generation services, to its Russell 2000(R) Index.

Annual reconstitution of the Russell indexes, which was finalized yesterday, captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000(R) Index. The largest 1,000 companies in the ranking comprise the large cap Russell 1000(R) Index while the remaining 2,000 companies become the small cap Russell 2000.

Membership in Russell's 21 U.S. equity indexes -- widely used as benchmarks for both passive and active investment strategies -- is determined strictly by market capitalization rankings and style attributes, rather than by subjective opinion or committee decisions. This ability to more accurately reflect market reality is one reason why Russell's benchmarks are widely used to evaluate investment managers.

"Daisytek's performance in the market in recent months has been recognized, and we are proud to be included in the closely watched Russell indexes," said President and CEO Jim Powell. "I am pleased with our inclusion in this prestigious group."

Daisytek is implementing a strategic growth plan that includes expansion to include a full line of office products; providing products through retailers in the grocery, drug, Web-based reseller and convenience channels; creating fee-based revenues through the VirtualDemand division, which provides outsourced sales and marketing support for clients; and widening Daisytek's international reach in attractive non-U.S. markets. Daisytek has a market capitalization of more than $200 million.

"The success of our strategies are paying off and it is gratifying to see our market capitalization more than double since this time last year," Powell said.

About Daisytek

Daisytek is a leading wholesale distributor of computer and office supplies and professional tape products, in addition to providing marketing and demand generation services. Daisytek sells its products and services in the United States, Canada, Australia, Mexico and South America. Daisytek distributes more than 17,000 nationally known, name-brand computer and office supplies products and over 2,800 professional tape products from numerous manufacturers. Daisytek is headquartered in Allen, Texas. This news release and more information about Daisytek are available at www.daisytek.com. This Web site is not part of this release. Daisytek is a registered trademark of Daisytek, Incorporated. All rights reserved.

About Frank Russell Company

Frank Russell Company, a global investment services firm, provides manager-of-manager investment products and services in more than 35 countries. Russell manages $66 billion in assets and advises clients representing more than US $1 trillion worldwide. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. The company ranks 13th on Fortune magazine's top 100 best companies to work for in the United States. For more information, go to www.russell.com.

The matters discussed in this news release contain both historical and forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. You can identify these statements by the fact that they do not relate strictly to historical or current facts, but rather reflect our current expectations concerning future results and events. Forward-looking statements relating to such matters as our financial condition and operations, including forecasted information, are based on our management's current intent, belief or expectations regarding our industry or us. These forward-looking statements including forecasts are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. In addition, some forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expected or forecasted in such forward-looking statements. We undertake no obligation to update publicly any forward-looking statement for any reason, even if new information becomes available or other events occur in the future.

Certain factors, including but not limited to, general economic conditions, industry trends, the loss of key suppliers or customers, the loss of strategic product shipping relationships, customer demand, product availability, competition (including pricing and availability), risks inherent in acquiring, integrating and operating new businesses, concentrations of credit risk, distribution efficiencies, capacity constraints, technological difficulties, exchange rate fluctuations, and the regulatory and trade environment (both domestic and foreign) could cause our actual results to differ materially from the anticipated results or other expectations expressed in our forward-looking statements. In addition, statements in this press release relating to the expected benefits of the contemplated transaction are subject to risks relating to the timing and successful completion of transitioning certain information technology, integration of the acquired assets into Daisytek's operations, unanticipated expenditures and changing relationships with customers, suppliers and strategic partners. There may be additional risks that we do not currently view as material or that are not presently known.

Other factors that could affect Daisytek are set forth in Daisytek's 10-K for the fiscal year ended March 31, 2001.
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Date:Jul 10, 2001
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