6.02.2006 ET

(CSRwire) NIAGARA FALLS, Ontario--(BUSINESS WIRE)--June 2, 2006--For decades, Xerox Corporation has infused social principles into its business practices - and the experience has shown that corporate citizenship is not just "nice to do" but necessary to do, said Jim Firestone, president of Xerox North America, in a keynote address here today.

Social responsibility actions have not only helped Xerox attract and keep top talent and strengthen its local communities, but companies today also "are driving real results and saving real dollars through integrating strong social responsibility and ethics practices throughout their operations," he said. For example, reusing and recycling printer parts "saves Xerox hundreds of millions of dollars every year" and investing in sustainable innovation like Xerox's proprietary solid ink color printing that generates 95 percent less waste than a typical color laser printer.

Firestone described the company's strategies and longstanding commitments at the 2006 North American conference of Financial Executives International, a pre-eminent association for chief financial officers and other senior finance executives. At Xerox, he said, social values - spanning diversity, environment, ethics and more - are integrated in all areas of the company.

For example, he highlighted how Xerox measures, monitors and promotes good business ethics across its work force through random surveys, help lines and consistent communication - including an internal Web site that publishes actual, sanitized ethics case examples and consequences.

He also outlined Xerox's strong record in sustainable product design and leadership in equipment remanufacturing and parts reuse. By being smart upfront and designing products and parts that can serve multiple lifetimes, Xerox not only saves money but diverts millions of pounds of potential waste from landfills.

Xerox conducts philanthropy with an eye on the future as well, Firestone noted. Xerox invests about $15 million annually in about 400 educational, cultural and social institutions that can tangibly impact the quality of life in a community for generations to come. About 80 percent of the time, a Xerox person is a volunteer with the organization. "We find that this synergy between Xerox money and Xerox people ensures a greater return on our investment," he said.

Some of the most valuable resources that Xerox shares with community organizations are the time and talents of Xerox people. Under the longstanding "Social Service Leave" program, select employees are granted up to one year - with full pay and benefits - to work for a nonprofit on a project of their own design and choosing. In Rochester, N.Y., where Xerox has its largest concentration of U.S. employees, another program enables Xerox people to volunteer as science teachers in elementary schools to foster innovation and interest in technical careers.

In addition to environmental, ethical and philanthropic areas, Xerox social responsibility efforts are aligned with diversity and employee support programs, minority- and women-owned supplier programs, and corporate governance initiatives.

Yet even with a strong legacy of success, Xerox aims to "ratchet up our expectations of what we can do," Firestone said, particularly in advancing its efforts to ensure global paper resources are used wisely, noting the company's stringent paper sourcing guidelines. "Social responsibility - like every other facet of business - is a rapidly moving target. We are trying to push ourselves to think beyond the narrow limits of 'what is' and ask the tough questions about 'what if.'"

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For more information about Xerox and social responsibility, visit www.xerox.com/csr.

NOTE TO EDITORS: For more information on Xerox, visit www.xerox.com/news. XEROX(R) is a trademark of XEROX CORPORATION.

Copyright Business Wire 2006

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