Exhibit 99



          IKON SUBSIDIARY PRICES $852 MILLION LEASE-BACKED NOTES SERIES
                                     2003-1


Valley Forge, Pennsylvania--April 16, 2003--IKON Office Solutions, Inc.
(NYSE:IKN) today announced that IKON Receivables Funding, LLC will issue, on or
about April 23, 2003, approximately $852 million of equipment lease-backed
notes. IOS Capital LLC, a subsidiary of IKON Office Solutions, will act as
Servicer. IKON Receivables Funding is a wholly owned subsidiary of IOS Capital.

The four classes of lease-backed notes are rated P-1/A-1+ and Aaa/AAA by Moody's
Investor Service and Standard & Poor's, respectively. The notes are backed by
lease contracts on copiers and other office equipment. The notes are insured by
AMBAC Assurance Corporation. Lehman Brothers and JPMorgan were the joint lead
managers on the sale, with Banc of America Securities LLC, Deutsche Bank
Securities and PNC Capital Markets acting as co-managers. The weighted average
interest rate on this transaction is 2.58%.

A registration statement related to these securities was filed and declared
effective by the Securities and Exchange Commission. This press release shall
not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.

"The asset-backed market continues to serve as a our primary source of funding
for our leasing operations," stated William S. Urkiel, Senior Vice President and
Chief Financial Officer of IKON, "With 78 percent of our customers in the U.S.
leasing their equipment purchases through IOS Capital, our ability to access the
asset-backed market at favorable terms contributes to the consistent returns we
experience in our leasing business."

IKON accounts for the asset-backed notes as borrowings, with the debt and
related assets reflected on the Company's balance sheet. Finance income related
to the pledged lease receivables is recognized over the life of the underlying
lease contracts. Asset-backed debt is generally retired with inflows from the
related lease receivables. IKON and IOS Capital are parties to a support
agreement that requires IOS Capital to maintain a debt to equity ratio not in
excess of six to one.

About IKON
IKON Office Solutions (www.ikon.com) is a leading provider of products and
services that help businesses manage document workflow and increase efficiency.
IKON provides customers with total business solutions for every office,
production and outsourcing need, including copiers and printers, color
solutions, distributed printing, facilities management, and legal document
solutions, as well as network integration, connectivity and custom workflow and
imaging application development. IOS Capital, LLC, a wholly owned subsidiary of
IKON, provides lease financing to customers and is one of the largest captive
finance companies in North America. With Fiscal 2002 revenues of $4.8 billion,
IKON has approximately 600 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 issuance and rating of the equipment lease-backed notes, the Company's
continued access to the asset-backed market, and the growth and profitability of
the Company's leasing operations. 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. Certain additional risks
and uncertainties are set forth in IKON's 2002 Annual Report on Form 10-K filed
with the Securities and Exchange Commission. 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.

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