RICHARD K. TAYLOR OF TOSHIBA AMERICA BUSINESS SOLUTIONS RECEIVES SECOND "EXECUTIVE OF THE YEAR" HONOR FROM MARKETING RESEARCH CONSULTANTS, INC.

Senior Vice President of Sales, Marketing and Business Operations Recognized For Leadership and Integrity in Annual Survey of Independent Dealerships

IRVINE, California, (Jul 28, 2003)

Toshiba America Business Solutions (TABS) today announced that Richard K. Taylor, senior vice president, Sales, Marketing and Business Operations for TABS has been named "Executive of the Year" by Marketing Research Consultants (MRC) of Glastonbury, Connecticut, the industry group which publishes a leading office equipment trade journal, The Cannata Report. The prestigious award was presented to Taylor during a ceremony in New York, NY, marking the second time Taylor has garnered the distinction of "Executive of the Year" through MRC's 18th annual survey of independent copier dealerships. Taylor was last bestowed the honor in 2001.

"This is the second time that Rick Taylor has received the accolade of Copier Industry Executive of the Year," said Frank G. Cannata, president, Marketing Research Consultants, Inc. "It is fitting that Taylor joins a very select group of people who have earned that distinction. All that we can add is, it is well-deserved."

"I am honored to receive the 'Executive of the Year' award. It means that I have earned the respect of the dealer community for which I am most grateful," said Rick Taylor, senior vice president, Sales, Marketing, Business Operations, TABS. "However, this award also speaks volumes about Toshiba's unwavering commitment to providing our customers with world-class products, services and support. Our ongoing goal is to introduce revolutionary new imaging technology, e-business initiatives and solutions that will continue to position dealers on the road to prosperity and success in the coming year."

Taylor joined TABS in 1995 and was quickly promoted to his role as senior vice president of Sales, Marketing and Business Operations. Under his leadership, Toshiba has introduced and expanded a number of successful strategic business initiatives including TOPAC, a wholly-owned subsidiary which operates a network of office equipment dealers throughout the United States, and e-business strategies designed to improve sales and service to the dealer network. Earlier this year, TABS launched the GEM Connect Portal, an extension of the award-winning dealer FYI Portal designed for Toshiba's GEM (Government, Education and Major Accounts) program, which now serves more than 600 dealers and 15,000 users. TABS also garnered the AIIM 2003 Best Practice award with Interwoven, Inc. for its integration of leading content management technology to increase dealer support services and sales effectiveness via the FYI Portal.

Prior to joining TABS, Taylor served as president of Better Office Systems, an Alco Standard Company and completed a decade of employment with the Savin Corporation, where he held a number of senior executive positions. He began his professional career in various sales capacities with Xerox.

About Toshiba America Business Solutions

Toshiba America Business Solutions, Inc. (TABS) manages product planning, marketing, sales, service support and distribution of copiers, facsimiles, multifunction printing products, network controllers and toner products throughout the United States, Latin America and the Caribbean. Headquartered in Irvine, Calif., TABS comprises four divisions: the Electronic Imaging Division, Toner Products Division, Document Solutions Engineering Division and TOPAC, a subsidiary which operates a network of office equipment dealers.

Named the most favored manufacturer in seven of the past eight years by the Business Technology Association (BTA), Toshiba's entire product line, customer support and marketing distribution policies are a marker for the industry. Among the many other awards garnered in recent years, Toshiba was named the "Copier Manufacturer of the Year" by the Marketing Research Consultants (MRC) in 1997, 1998, 2001 and 2002 and received the CIO Web Business award for its leading edge intranet site in 1998, 1999 and 2000.

TABS is an independent operating company of Toshiba Corp., the fifth largest electronics/electrical equipment company and the world's 77th largest company in terms of sales. Toshiba Corporation is a world leader in high technology products with more than 300 major subsidiaries and affiliates worldwide. Fiscal year revenue in 2002 was approximately $47 billion.

For more information on Toshiba copier, facsimile and printer products, or for a local dealer, call 1 800 GO TOSHIBA or visit the TABS Web site at www.copiers.toshiba.com.