Xerox CIS announces 1H99 results

Xerox CIS has announced the results of its work in the first half of the year in Russia, some plans for future and introduced its new general director Igor Simonov. The company reported a profit of $2 million before tax, although the revenue had decreased by about 30 percent, compared with the same period last year. The restructuring of the Russian office carried out late last year allowed the company to cut operational expenses by 52 percent. Future plans of Xerox in Russia include the development of relations with large regional enterprises. According to Mr. Simonov, two such projects are now underway with customers in Samara and Ufa.

Xerox CIS: (+7 0950 956-37-00 www.xerox.ru

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