Exhibit 99
Contacts:

Veronica L. Rosa                                                 Steven K. Eck
Investor Relations                                               Media Relations
610-408-7196                                                     610-408-7295
vrosa@ikon.com                                                   seck@ikon.com


                        IKON OFFICE SOLUTIONS COMMENTS ON
                         FOURTH QUARTER AND FISCAL 2002

              Accelerates Cost Saving Actions as Company Continues
                          to Streamline Infrastructure

Valley Forge, Pennsylvania - October 1, 2001 -IKON Office Solutions (NYSE:IKN)
announced today its decision to exit from or downsize selected non-strategic
business units, as well as the acceleration of other cost cutting actions
designed to provide long-term structural benefits.

"Over the last few years, we have made great progress in positioning IKON as a
driving force within the business communications industry, by expanding our
product and service offerings in key growth markets," said James J. Forese,
Chairman and Chief Executive Officer, IKON Office Solutions. "At the same time,
our strategic initiatives designed to increase productivity have supported the
critical investments necessary to implement change within this organization,
while creating strong cash flows, and a greater ability to respond to
ever-changing market conditions. Today, however, we must respond with even more
vigor to the current economic environment and the challenges that it will
present to our competitors, customers, and to IKON. In light of this, we intend
to take more aggressive actions as we enter the new fiscal year to deliver
permanent cost reduction benefits and operating margin expansion."

Among the many cost saving and productivity initiatives already underway, the
following specific actions have been targeted for Fiscal 2002 and will be
included in a pretax restructuring charge of approximately $65 million to be
recorded in the fourth quarter of Fiscal 2001:
     o    Exiting from the Company's telephony operations in both the U.S. and
          Europe;
     o    The closing of a number of non-strategic digital print production
          centers as the Company aligns its distributed print capabilities
          around the opportunities associated with contractual, repetitive print
          work, major account services, and facilities management offerings;
          and,
     o    Further downsizing of operational infrastructures throughout the
          organization as the Company leverages and intensifies prior
          standardization and centralization initiatives.



These restructuring actions will result in the reduction of approximately 1,600
employees over the next 12 months. Annualized savings from these measures are
expected to reach approximately $50 million.

IKON's fourth quarter results will also include a $10 million charge to increase
the Company's tax reserve in response to recent IRS position and court decisions
surrounding the use of leveraged corporate owned life insurance (COLI) programs,
which were commonly used by many companies during the 1990's.

Impacted by recent political and economic events, earnings per share for the
fourth quarter, excluding the charges mentioned above, are expected to be in the
range of $.09 - $.12, compared to previously communicated guidance of $.14. In
addition, the impact of the restructuring charge is expected to reduce earnings
per share for the fourth quarter by approximately $.34, which includes
approximately $.13 attributable to goodwill associated with the charge. Also,
the impact of the COLI charge is expected to reduce fourth quarter earnings per
share by an additional $.07 per share. Free cash flow remains on target, and is
expected to exceed $200 million for the fiscal year 2001.

"For Fiscal 2002, we expect the economy to put significant pressure on our
revenues," Mr. Forese said. "Therefore, we are taking appropriate actions as we
enter into Fiscal 2002. In addition to the accelerated actions identified with
the restructuring charge, we will be further reducing our workforce by an
additional 1,000 employees over the next 12 months, primarily through
attrition."

Earnings per share for Fiscal 2002 are expected to be in the range of $.84 -
$.89, which reflects the benefit of approximately $.24 per share associated with
the elimination of goodwill amortization in accordance with the Company's
adoption of Financial Accounting Standards Board (FASB) Statement No. 142 on
October 1, 2001.

"IKON is clearly gaining strength and recognition within the industry as a total
solutions provider," Mr. Forese concluded. "More importantly, we have continued
to lay out, plan and execute strategies in pursuit of our long-term vision. We
remain confident that these strategies will position IKON not only for economic
recovery, but for solid earnings growth for Fiscal 2002 and beyond."

Additional details regarding the fourth quarter and the Company's outlook for
Fiscal 2002 will be communicated on October 25, 2001 when the Company announces
its results for the quarter ended September 30, 2001.



IKON Office Solutions (www.ikon.com) is one of the world's leading providers of
products and services that help businesses communicate. IKON provides customers
with total business solutions for every office, production and outsourcing need,
including copiers and printers, color solutions, distributed printing,
facilities management, imaging and legal document solutions, as well as network
design and consulting, e-business development, telecommunications services and
technology training. With fiscal 2000 revenues of $5.4 billion, IKON has
approximately 800 locations worldwide including the United States, Canada,
Mexico, the United Kingdom, France, Germany, Ireland, and Denmark.




This news release includes information which may constitute forward-looking
statements within the meaning of the federal securities laws. These
forward-looking statements include, but are not limited to, statements relating
to the Company's outlook for the fourth quarter and fiscal year 2002 and the
expected long-term growth and annual savings from the restructuring plan.
Although IKON believes the expectations contained in such forward-looking
statements are reasonable, it can give no assurances that such expectations will
prove correct. Such forward-looking statements are based upon management's
current plans or expectations and are subject to a number of risks and
uncertainties, including, but not limited to: risks and uncertainties relating
to conducting operations in a competitive environment and a changing industry;
delays, difficulties, management transitions and employment issues associated
with consolidation of, and/or changes in business operations; managing the
integration of existing and acquired companies; risks and uncertainties
associated with existing or future vendor relationships; and general economic
conditions. As a consequence of these and other risks and uncertainties, IKON's
current plans, anticipated actions and future financial condition and results
may differ materially from those expressed in any forward-looking statements.
Certain additional risks and uncertainties are set forth in IKON's 2000 Annual
Report on Form 10-K/A filed with the Securities and Exchange Commission.



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