Xerox Signs Services Contract with Siemens Business Services, Inc.

Norwalk, Conn., Nov 29, 2006 - Siemens Business Services, Inc., today announced that it has signed a multi-year maintenance services contract with Xerox Corporation (NYSE: XRX).

Under the terms of the agreement, Siemens will provide maintenance services for Xerox black and white and color network printers, as well as select multifunctional systems throughout the United States that are under warranty or an existing service contract. Xerox is consolidating under Siemens its U.S. technical service support currently provided by several service partners.

“Through our relationship with Siemens, we’re creating a more integrated, flexible and efficient model for delivering quality service to our customers,” said William Steenburgh, senior vice president, Xerox Services. “Like Xerox, Siemens has a proven track record for excellence. By combining forces, we’re strengthening our commitment to customer satisfaction.”

The process for scheduling Xerox service does not change. Xerox customers will continue to contact Xerox call centers directly for service. Xerox will then dispatch the appropriate service representatives for qualified service calls.

“Technology know-how is at the core of our business,” said Steve Cameron, senior vice president of Managed Services for Siemens Business Services, Inc. “We’re proud Xerox has chosen to partner with Siemens and we look forward to supporting their clients’ needs throughout the U.S.”

About Xerox Corporation

Xerox Corporation is a global technology and services enterprise that helps businesses deploy Smarter Document ManagementTM strategies and find better ways to work. It offers an array of innovative document solutions, services and systems -- including color and black-and-white printers, digital presses, multifunction devices and digital copiers -- designed for offices and production-printing environments. It also offers associated document management services, supplies, and software. For more information, call 800-ASK-XEROX or visit www.xerox.com.

About Siemens Business Services

Siemens Business Services, Inc. is one of Siemens operating companies in the United States. Siemens Business Services is an internationally leading IT service provider. With its comprehensive know-how and specific sector knowledge, this division of Siemens offers solutions and services from a single source - from consulting to systems integration and management of IT infrastructures. Siemens Business Services is among the top ten outsourcing providers worldwide. With 34,000 employees, Siemens Business Services achieved worldwide sales of $6.5 billion USD in fiscal 2006 (9/30/06). For more information, please visit Siemens Business Services on the Web at www.usa.siemens.com/sbs.

About Siemens AG

Siemens AG (NYSE:SI) is one of the largest global electronics and engineering companies with reported worldwide sales of $107.4 billion in fiscal 2006. Founded nearly 160 years ago, the company is a leader in the areas of Medical, Power, Automation and Control, Transportation, Information and Communications, Lighting, Building Technologies, Water Technologies and Services and Home Appliances. With its U.S. corporate headquarters in New York City, Siemens in the USA has sales of $21.4 billion and employs approximately 67,000 people throughout all 50 states and Puerto Rico. Eleven of Siemens’ worldwide businesses are based in the United States. With its global headquarters in Munich, Siemens AG and its subsidiaries employ 475,000 people in 190 countries. For more information on Siemens in the United States: www.usa.siemens.com.

###

SIEMENS is a registered trademark of Siemens AG. All other company, brand, product, and service names are trademarks or registered trademarks of their respective holders.

©2006 Siemens Business Services, Inc.

Contact Information

Marla Davids

Siemens AG

Contact via E-mail