The Law Office of Weiss & Yourman Announces Class Action Lawsuit Against Xerox Corporation.

NEW YORK--(BUSINESS WIRE)--Dec. 15, 1999--

The following is an announcement by the law firm of Weiss & Yourman:

A class action lawsuit against Xerox Corporation ("Xerox" or the "Company")(NYSE:XRX) was commenced in the United States District Court for the District of Connecticut on behalf of purchasers of Xerox securities. If you purchased Xerox securities between January 25, 1999 and December 10, 1999, your rights may be affected.

The complaint charges defendants with violations of the Securities Exchange Act of 1934 and the Securities Act of 1933. The complaint alleges that defendants issued a series of false and misleading statements concerning the declining demand for the Company's products and services and engaged in a number of deceptive practices to conceal these adverse trends. Prior to the disclosure of the adverse facts, certain insiders sold hundreds of thousands of shares of Xerox common stock to the investing public at artificially inflated prices. These sellers realized over $51.77 million in proceeds from these insider trading activities.

This action seeks to recover damages on behalf of defrauded investors who purchased Xerox securities. Plaintiff is represented by Weiss & Yourman, a law firm having significant experience and expertise prosecuting class actions on behalf of investors and shareholders in federal and state courts throughout the United States, particularly those involving financial reporting improprieties. Weiss & Yourman has been appointed by numerous courts as lead counsel in class action lawsuits and in that capacity has recovered hundreds of millions of dollars on behalf of investors.

If you purchased Xerox securities during the period of January 25, 1999 and December 10, 1999, you may move the court no later than February 7, 2000, to serve as a lead plaintiff of the class. In order to serve as a lead plaintiff, you must meet certain legal requirements. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.

If you wish to receive an investor package or if you wish to discuss this action, or have any questions concerning this notice or your rights or interests with respect to this matter, or if you have any information you wish to provide to us, please contact:

Mark D. Smilow or James E. Tullman at (888) 593-4771 or (212) 682-3025 or via Internet electronic mail at wynyc@aol.com or by writing Weiss & Yourman, The French Building, 551 Fifth Avenue, Suite 1600, New York City 10176.