Xerox Canada Inc. Completes Exchange of Non-Voting Class B Exchangeable
Shares

TORONTO, Dec. 22 /CNW/ - Xerox Canada Inc. today announced that its shareholders have approved the amendment to its articles of incorporation to allow the automatic exchange of all of its outstanding Non-Voting Class B Exchangeable Shares into shares of common stock of Xerox Corporation and as a result, the transaction closed. The transaction was approved by 99.97 percent of the votes cast by the holders of Exchangeable Shares.  Xerox Canada Inc. is now a wholly-owned subsidiary of Xerox Corporation.  Xerox Canada Inc.'s transfer agent, CIBC Mellon Trust Company, is handling all aspects of the automatic exchange process for shareholders.

This release contains forward-looking information that is subject to a number of risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking information.

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For more information on Xerox Canada, visit http://www.xerox.com.

For further information:

Media Contact:
Bill McKee, Xerox Canada, 585-423-4476 (office) or 585-737-9069 (mobile)
[email protected].
Jesse Kohl, Environics Communications, 416-969-2709 (office),
[email protected].