Lexmark AR04

Life can be complicated.

2004 Annual Report

Contents

1 Financial Highlights

3 Letter to Shareholders

5 Lexmark’s Strategy

7 Enterprise

11 Small & Medium Business

17 Consumer

21 Corporate Citizenship

25 Sales Offices

27 Corporate Information

LEXMARK 2004 ANNUAL REPORT

uncomplicate
At Lexmark, our mission is to
make it easier for businesses and
consumers to move information
between the paper and digital worlds.
We understand what our customers
really want. Solutions. Simplicity.
It’s how we u n c o m p l i c a t e
printing, business, life.


Financial Highlights
(Dollars in millions, except per share data)

Statement of Earnings Data: 2001 2000
2004 2003 2002

Revenue $ 4,104.3 $ 3,767.3
$ 5,313.8 $ 4,754.7 $ 4,356.4
Cost of revenue (1) 2,865.3 2,550.9
3,522.4 3,209.6 2,985.8

Gross profit 1,239.0 1,216.4
1,791.4 1,545.1 1,370.6

Research and development 246.2 216.5
312.7 265.7 247.9
Selling, general and administrative 593.4 542.9
746.6 685.5 617.8
Restructuring and related (reversal) charges (1) (2) (3) 58.4 41.3
– – (5.9)
(5.9)

Operating expense 898.0 800.7
1,059.3 951.2 859.8

Operating income 341.0 415.7
732.1 593.9 510.8

Interest (income) expense, net 14.8 12.8
(14.5)
(14.5) (0.4) 9.0
(0.4)
Other expense 8.4 6.5
0.1 0.8 6.2

Earnings before income taxes 317.8 396.4
746.5 593.5 495.6
Provision for income taxes (4) (5) 44.2 111.0
177.8 154.3 128.9

Net earnings $ 273.6 $ 285.4
$ 568.7 $ 439.2 $ 366.7

Diluted net earnings per common share $ 2.05 $ 2.13
$ 4.28 $ 3.34 $ 2.79
Shares used in per share calculation 133.8 134.3
132.9 131.4 131.6

Statement of Financial Position Data:

Working capital $ 562.0 $ 264.7
$ 1,533.2 $ 1,260.5 $ 699.8
Total assets 2,449.9 2,073.2
4,124.3 3,450.4 2,808.1
Total debt 160.1 148.9
151.0 150.4 161.5
Stockholders’ equity 1,075.9 777.0
2,082.9 1,643.0 1,081.6

Other Key Data:

Net cash from operations (6) $ 195.7 $ 476.3
$ 775.4 $ 747.6 $ 815.6
Capital expenditures $ 214.4 $ 296.8
$ 198.3 $ 93.8 $ 111.7
Debt to total capital ratio (7) 13% 16%
7% 8% 13%
Number of employees (8) 12,700 13,000
13,400 11,800 12,100

(1) Amounts include the impact of restructuring and other charges in 2001 of $87.7 million ($64.5 million, net of tax), which resulted in a $0.48 reduction in diluted net earnings per share. Inventory write-offs of $29.3 million associated with the
restructuring actions were included in cost of revenue.
(2) Amounts include the benefit of a $5.9 million ($4.4 million, net of tax) reversal of restructuring and other charges in 2002, which resulted in a $0.03 increase in diluted net earnings per share.
(3) Amounts include the impact of restructuring and related charges in 2000 of $41.3 million ($29.7 million, net of tax), which resulted in a $0.22 reduction in diluted net earnings per share.
(4) Provision for income taxes in 2004 includes a $20.0 million benefit from the resolution of income tax matters, which resulted in a $0.15 increase in diluted net earnings per share.
(5) Provision for income taxes in 2001 includes a $40.0 million benefit from the resolution of income tax matters, which resulted in a $0.30 increase in diluted net earnings per share.
(6) Cash flows from investing and financing activities, which are not presented, are integral components of total cash flow activity.
(7) The debt to total capital ratio is computed by dividing total debt (which includes both short-term and long-term debt) by the sum of total debt and stockholders’ equity.
(8) Represents the approximate number of full-time equivalent employees at December 31 of each year.

1 LEXMARK 2004 ANNUAL REPORT

$6.0
Lexmark’s revenue rose 12 percent
WORLDWIDE REVENUE
($ in billions)
in 2004 to $5.3 billion.
$5.3
$5.0
$4.8
$4.4
$4.0
$4.1
$3.8
$3.0

$2.0

$1.0

$0.0
2000 2001 2002 2003 2004

$3.5
Lexmark has generated approximately
CUMULATIVE NET CASH PROVIDED BY
OPERATING ACTIVITIES SINCE 2000
$3.0 billion cumulative net cash from
($ in billions)
$3.0
$3.0
operating activities over the past five years.
$2.5

$2.2
$2.0

$1.5
$1.5

$1.0

$0.7
$0.5
$0.5

$0.0
2000 2001 2002 2003 2004

$5.00
Earnings per share were $4.28 in
DILUTED NET EARNINGS PER SHARE

2004, compared to $3.34 in 2003.
$ 4.28
$4.00

$3.34
$3.00
$2.79
$2.00
$ 2.13 $2.05

$1.00

$0.00
2000 2001 2002 2003 2004

2000 EPS was reduced by 22 cents as a result of restructuring and related
charges. 2001 EPS was reduced by 48 cents as a result of restructuring and
related charges and was increased by 30 cents as a result of an income tax
reversal due to the resolution of tax matters. 2002 EPS was increased by 3
cents as a result of reversal of restructuring and related charges. 2004 EPS
was increased by 15 cents as a result of an income tax reversal due to the
resolution of tax matters.

2

To my fellow shareholders:

our future sales of supplies, which is
Despite mixed economic and market
the profit engine for Lexmark. In 2004,
conditions around the world last
we had double-digit hardware revenue
year, Lexmark continued to grow
growth in every quarter. For the year,
based on the strength of our products
hardware revenue grew 14 percent,
and services and on our unending
a significant improvement over our 8
commitment to meeting the needs of
percent growth in 2003, and marks our
our customers.
strongest hardware revenue growth
since 1998.
For the year, revenue was $5.3 billion,
up 12 percent from 2003. Operating
2004 was not only a strong year in
income was $732 million, up 23
terms of revenue and profit growth, it
percent, and diluted net earnings per
was an important year of investment
share were $4.28, a year-over-year
in Lexmark’s future. Strategically,
increase of 28 percent. For the year, we
we’re expanding our product line to
continued to see strong cash generation,
enter and increase our presence in
with net cash provided by operating
future growth segments such as photo
activities of $775 million. Most
inkjets, business inkjets, low-end
encouraging was the double-digit unit
mono lasers, color lasers and laser
growth for the year in both our laser
multifunction devices. We’re also
printer and inkjet printer shipments.
focused on differentiating ourselves
through “easy-to-use” products and
One of the most important metrics
through our corporate solutions and
for Lexmark is our hardware revenue
services business. We see significant
growth because sales of hardware drive


growth opportunities ahead, but these distributed printing and imaging, will be helpful in conveying some of the
opportunities require investment. which continues to be a growth impact this commitment has with our
market with attractive opportunities. customers. In closing, I would like to
As a result, we’ve embarked on several - Our supplies-based business model, thank our employees and our business
key strategic initiatives to pursue these with the majority of our revenue partners for their contributions to our
opportunities and to drive the long- coming from our recurring core
term growth of the company. The first supplies, provides consistency and
key initiative is to increase our level funds future investments.
At Lexmark, we spend less time
of research and development spending - And we believe we are unique in the
talking about our technology
to pursue these additional segments. market with our vertical integration in
and more time listening to our
The second key initiative is to increase technology and our close interaction
customers.
awareness of Lexmark and to develop with our customers.
our brand position. We started these
investments in 2004 and will continue At Lexmark, we have a strong sense of
them in 2005. Although these values, including strong commitments to success, and I would like to express my
investments will result in a higher level of the environment, to the diversity of our gratitude to our shareholders for putting
operating expense, they are prudent and workforce, and to the communities in your continued trust in Lexmark.
necessary to sustain profitable growth. which we live and work.
Sincerely,
As we look to the future, we feel very As a company, we have a single vision:
optimistic about Lexmark – our position Customers For Life. Within Lexmark
Paul J. Curlander
in the market, our technology, and our there is a strong commitment to meeting
opportunities to grow. this high standard. Hopefully the Chairman and Chief Executive Officer
- We’re exclusively focused in customer stories contained in this report March 2005

4

LEXMARK’S STRATEGY

U n d er s tanding the business

Lexmark executives from left to right: David Goodnight, vice president, Asia Pacific and Latin America; Vincent Cole, vice president,
general counsel and secretary; Gary Morin, executive vice president and CFO; Jeri Stromquist, vice president, human resources; Paul
Curlander, chairman and CEO; Paul Rooke, executive vice president and president of the Printing Solutions and Services Division; Najib
Bahous, vice president and president of the Consumer Printer Division.


LEXMARK’S STRATEGY

We invest in technologies, products and we develop all three core print
Our exclusive focus on printing makes us
paths to market that enable us to bring technologies — monochrome laser,
relatively simple to understand. But there
innovative printing solutions to the color laser and inkjet.
is more to the Lexmark story that merits
distributed printing and imaging market. - We sell that technology to our
discussion as we plan for our continued
Our industry-leading features spur customers through our retail-centric
success.
hardware sales and add to our installed consumer teams, and our large
Our strategy base. The installed base of printers, in account industry teams, driving
turn, drives recurring sales of supplies.
Under our well-defined strategy, we want to:
Supplies are the profit engine of the
- Expand our product line to enter and
business model, representing significantly
increase our presence in the future
We are the only major company
more than half of our gross profit. Our
growth segments – segments such as
that is 100 percent focused on
supplies profits then fund new research
color lasers and home photo printers,
customers’ printing needs.
and development investments, further
where Lexmark is currently under-
fueling technological advances.
represented.
- Build our market position with
And the cycle begins again.
consumers and business customers
by differentiating ourselves through customer responsiveness and flexibility
Our competitive advantages
easy-to-use products, and through that is unmatched in the industry.
Lexmark has a number of strengths that
our corporate solutions and services Since we develop our own technology,
truly distinguish us from the rest of the
business. we have the capability to respond
crowd.
- Develop our brand image and directly to our customers’ needs with
- We are the only major company in the
awareness as the printing and imaging tailored business solutions.
industry that is 100 percent focused
company that makes it easy to get
on distributed output. We are not
things done. These core strengths give us confidence
distracted by non-printing businesses, that we can capitalize on the key trends
Our business model nor are we subsidizing other in the market to grow and expand our
businesses out of our profit stream.
Our business model is very straight- installed base of products.
- Unlike most of our competitors,
forward.

6

ENTERPRISE

W h y w o uld a printer compan y
w a n t you to print less?


ENTERPRISE

The answer is simple. Our goal is to earn proposition and enable us to provide
Lexmark C762 Color Laser Printer

Customers For Life. By helping customers managed services for large customers with
improve their business processes, we earn distributed printing environments, where
their trust. In order to develop long- devices reside closer to the end users. By
hardware is MarkVisionTM Professional,
term relationships, we show our large our industry-leading platform for device
enterprise customers that Lexmark’s management.
unique expertise can help customers be
It’s not just about printing. It’s
more productive, more efficient and more Helping customers move information from
helping our customers to work
responsive – with lower costs. the paper to the digital world – and back
more productively and less
– is part of our move proposition. We
expensively.
Another distinguishing characteristic of have devices featuring intuitive, touch-
Lexmark is our large account sales force, screen displays that allow anyone – bank
which is aligned by industry. This structure tellers, dock workers, nurses, teachers,
allows us to be the leader in a wide variety store clerks – to scan, print, copy, fax or definition, these distributed devices are
of market-specific solutions. The result e-mail with virtually no training. Many of impractical to track with on-site labor,
of our customer knowledge is a tiered the largest companies in the world have which is why our expertise and unique
proposition we call “print, move, manage.” experienced the customizable functions software help customers proactively
that we design. In many cases, these optimize their systems by better knowing
Our print proposition continues to grow customizable functions reduce the time of how their assets are being utilized.
stronger each year. As developers of our paper-based processes from days down to
own laser technology, we have a broad the time it takes to push a button.
range of monochrome laser printers, color
laser printers and powerful multifunction Our distributed fleet management services
form the backbone of Lexmark’s manage
devices. Layered onto this easy-to-use

8

ENTERPRISE

L ex m a rk a n d Newsweek: Delivering good
n e w s t o a lead er in d elivering news

Lexmark worked with Newsweek to
Writing, editing and publishing a people have uncovered information
tailor a solution that accomplished all
chronicle of global events for 21 million they never would have been able to
three. Applying Lexmark’s “Print, Move,
people in 190 countries every seven days discover before,” said Leonard Carella,
Manage” philosophy, we conducted an in-
requires the kind of content-management Newsweek’s vice president and chief
depth output assessment of Newsweek’s
expertise that makes Newsweek one technical officer. “This has led to better
printing infrastructure. Our findings
of the most decorated and trusted and faster decision making.”
helped us design a customized print-
periodicals in the world.
on-demand solution that consolidated But the CTO is not the only one cheering
printing hardware throughout the
Newsweek’s New York headquarters, the the good news; the CFO also has
magazine’s offices.
hub of news-gathering operations as far reason to applaud the change thanks to
flung as Moscow and Mexico City, used significant cost savings for Newsweek.
The new approach integrates our ongoing
to rely on a mainframe-based printing Newer equipment and better processes
consulting services with our robust
system to publish financial reports at an for less money – now that’s the kind
document-management software and
offsite location. Business managers on of business solution that can make
Lexmark monochrome and color MFPs.
five floors of the Manhattan offices relied headlines.
Consequently, productivity has increased
on a printing system that management
as Newsweek employees now have on-
viewed as both costly and inefficient.
demand access to financial reports.
Newsweek sought a new solution to
“Because data is freely available and
save money, reduce waste and improve
accessible in ways never before possible,
the speed of content delivery – and


Leonard Carella
Vice President and Chief Technical Officer
Newsweek

10

SMALL & MEDIUM BUSINESS

U n i q u e b usin esses, unique n eeds.



Lexmark X7170 can manage and
We pay close attention to our customers. Lexmark X7170 Office Productivity All-In-One

distribute documents, convert scanned
We interview them. We observe activity
information to text with industry-leading
in their work settings. And we tailor
character-recognition software, create
our technology to meet their needs. One large companies, but with duty cycles,
common concern we used to hear from acquisition prices and maintenance costs
small and medium businesses (SMBs) is better suited for a smaller organization.
that they have special and unique needs,
Lexmark’s exclusive Productivity
so they didn’t want to have to choose One of our breakthrough products for
Suite is loaded with tools to help
from the same devices being offered to this demand was 2004’s introduction of
small businesses capture, produce,
large enterprises. the Lexmark X7170. We call it the Office
manage and distribute documents
Productivity All-In-One because it does
with ease.
We listened. We heard. And we more than print, scan, copy and fax. It
responded. actually helps SMBs manage information
in their businesses. It comes with our
Just as smaller businesses must do exclusive Productivity Suite software that and search PDFs, scan to e-mail, and
more with less, the same is expected serves as an interface between the printer manage and edit photos.
of workplace printers. Our customers and the PC.
want to not only print, but also fax, copy In other words, thanks to Lexmark,
and scan images to be e-mailed around In addition to the easy execution of you don’t have to be a big company to
their organization – the same as at common office printing tasks, the perform like one.

12


L ex m a rk a nd YGM: Helping a small
c o m p a n y become a big business

manufacturer with factories in Asia
Not every small and medium business printers (monochrome, color and
and Africa.
imagines itself as a global titan, multifunction) that offer the network
but virtually all SMBs would like scanning and printing that meets
At its Hong Kong headquarters, YGM
to experience growth without the YGM’s needs.
has 300 employees who used to share
headaches associated with being
10 printers, two copiers, two faxes and
a large enterprise. Lexmark helps “We save manpower because the
two scanners – none of which were
them make their business processes machines don’t break down, we save
networked.
simpler so they can stay focused on money because the acquisition and
development, marketing, production or maintenance costs were lower than
Lloyd Hui is the system administrator
fulfillment. other options, and we save time
who decided the company could because people are no longer walking
be more competitive if it improved
Take YGM Co., LTD, for example. long distances to stand in line at a
efficiency and reduced costs for these
From its humble beginnings as a slow printer,” said Mr. Hui. “We chose
workflow functions. His search for a
small garment factory with 20 Lexmark because their products have
solution led him to Lexmark, where
sewing machines, YGM has grown the flexibility to expand – which we
we set him up with an array of laser
into a respected original equipment expect them to do while we grow.”


Lloyd Hui
System Administrator
YGM Co., LTD

14


L ex m a rk and UDLA: Changing
t h e rules for class paper s

From its beginnings as a two-year college send their print jobs to the school’s print
curriculum; it also has a pioneering
in Mexico City more than 60 years ago, server, where the document is stored until
IT solution to improve the coursework
the Universidad de las Americas Puebla the student is ready to visit one of the
experience for more than 8,000 students.
(UDLA) has evolved into one of the most touch-screen kiosks around campus.”
prestigious higher learning institutions With the help of Lexmark’s hardware
in Mexico. Fully certified by accrediting They access their queue and print on
and software, UDLA installed 30 printing
organizations in both Mexico and the demand. The charge for the printing is
stations (25 in monochrome and five in
United States, its nearly 600 professors automatically debited from the student’s
color) in labs, libraries and residential
teach 36 degree programs, including account, so the solution is as user-friendly
areas around campus.
27 masters degrees and two doctorate for UDLA as it is for the students.
programs. “Today, our students no longer need to
be in a computer lab to print their term
But the evolution of the school has not papers,” said Juan Carlos Jenkins, the
been limited to the scope of the academic school’s CIO. “Instead, they wirelessly


Juan Carlos Jenkins
Chief Information Officer
UDLA

16

CONSUMER

O u r i n k jets are, quite simply,
better printers.


CONSUMER

Lexmark P6250 Home Photo Center All-In-One

Want to print the perfect photo to
If your time is at a premium… if sound obvious, but it’s not always the
share with your family without all
simplicity is important to you… if you case with all technology companies. At
of the “techy” hassle? Lexmark’s
want high-quality output without having Lexmark, we are vigorous in our research
new photo printers make all of the
to work hard to get it… then Lexmark’s of customers’ preferences and needs
adjustments for you, eliminating the
inkjets are the choice for you. – and their demand for simplicity has
hassle and producing brilliant prints.
led us to break the “chain of pain” that
The uncomplicated nature of the used to accompany such popular tasks as
Lexmark printing experience and the printing photos at home.
stunning output that results are no improvement drives us to pursue superior
accident; they are the product of our print quality, longer-lasting inks, higher-
These ease-of-use features are combined
mindset. We are focused on delivering value cartridges and faster output.
with a new level of technological
customer-driven products. That may innovation. Our constant quest for

18

L ex m a rk a n d YOU: Making printing at
h o m e e a sier than making toas t

your images right on the control panel
From busy moms to shutterbugs, a high-quality copy. But don’t take our
thanks to the color LCD screen, which
everyone enjoys the convenience of word for it…
will also give you a video preview so you
printing documents or photos at home,
know exactly how your print will turn
but thanks to Lexmark no one needs “The Lexmark P6250 is a good all-a-
out. An ingenious light bar makes sure
to be a rocket scientist to know how to round home printing solution. I have
the original is oriented correctly for
produce great output. We make it easy recommended it to many of my students.
perfect prints the first time. It’s so easy
for you to print what you want so you I love the archival photo quality, the
to use that a five-year-old could operate
can get on with your life. We’ve made great document prints, and it has by far
this printer. But they wouldn’t be able to
everything about our home-printing the best and quickest scanning features
shove a toy in the card reader because of
products easier to use because we want I have ever used. It has become an
the protective cover we built in.
the customer’s purchase decision to be invaluable tool in my scrapbook business.
just as easy to make. The memory card readers mean that I
From one-button operations to a light bar can manipulate and print my pictures
that ensures correct paper orientation, to
Take, for example, the Lexmark P6250 immediately and have sample products
LCD screens with tutorials, our products
that we unveiled in 2004. Without any for my students and customers in
are engineered to make the user’s
PC connection, you’re just seconds away minutes.”
experience simple and uncomplicated. So
from printing high-resolution digital – Paula F. Jones, Canada
even if you’re distracted or in a hurry,
photos. Enlargements or reductions are
you’re only one click away from making
just a single button away. You can crop


Paula Jones
Scrapbooker
Canada

20

CORPORATE CITIZENSHIP

I t ’s m o r e than just being a good
c o rporate citizen…



We also measure success by the difference for conference room wall hangings or Partnering with schools all across the
we make in the communities where we employee manuals. At Lexmark, we live United States, Lexmark donates inkjet
conduct business. them. We make them count. printers, CD-ROMs with high-resolution
art masterpieces from a consortium
“We are responsible to the communities in We donate millions of dollars each of Europe’s leading museums, and
which we live and work, the environment, year through traditional charitable corresponding lesson plans that apply the
and to the world community” are words cash contributions, in-kind support and artwork to aid in the teaching of math,
that appear in the employee-drafted equipment donations. Another program history, social studies and humanities.
Vision and Values Statement that guides of which we are very proud is the
Lexmark. These are not merely words Lexmark Print Art Educational Program.

22


… i t ’ s a p ar tner ship in education.

Among the 22,000 schools across the was, ‘Wow, I can’t believe they did this!’ house the technology for the rest of the
United States that are part of the Print I think the principals were almost more year.
Art Educational Program are the six excited than the teachers because they’re
schools of the Ozark R-VI school district not used to things walking in for free.” “Our staff implemented the technology
in southwest Missouri. the way it was intended, which made us
Ozark R-VI is proof that the program very successful in reaching the maximum
“In a growing district, it sometimes succeeds beyond the boundaries of the art number of kids,” Snelling concluded.
seems like new equipment is the most room. While some of the schools deployed
difficult thing to get – especially at the the technology in the art classes, others
elementary level,” said Karen Snelling, put the printers and CDs in their libraries.
the district’s technology coordinator. In fact, Dr. Kim Fitzpatrick, the principal
at Ozark’s South Elementary, held a
“So when the Lexmark printers showed contest among all the teachers in her
up,” Snelling continued, “the reaction school to determine which class would


Karen Snelling
Technology Coordinator
Ozark R-VI Schools

24

Sales Offices

Asia Pacific Tokyo, Japan Quebec City, Quebec
(813) 5649 0222 (418) 650-4484
Brisbane, Australia
(617) 3229 1890 Seoul, Korea Toronto, Ontario
(822) 2189-6800 (905) 763-0560
Canberra, Australia
(612) 6285 1177 Petaling Jaya, Malaysia Vancouver, British Columbia
(603) 7492 0862 (604) 732-9755
Melbourne, Australia
(613) 9473 3100 Auckland, New Zealand
(649) 359 7474
Europe, Middle East
Sydney, Australia
and Africa
(612) 9930 3500 Manila, Philippines
(632) 375 1750
Perth, Australia Wien, Austria
(618) 9480 8666 Singapore 43 1 797 32 0
(65) 6467 9898
Beijing, China Zaventem, Belgium
(8610) 6517 2888 Kaohsiung, Taiwan 32 2 716 74 11
886-7-235-0660
Chengdu, China Birkeroed, Denmark
(8628) 8620 3977 Taipei, Taiwan 45 45 99 88 88
886-2-2531-2335
Guangzhou, China Marlow, England
(8620) 3877 2810 Bangkok, Thailand 44 8704 440044
(662) 343 1729
Hong Kong, China Espoo, Finland
(852) 2866 8900 358 9 525 340

Shanghai, China Paris, France
Canada
(8621) 6335 1600 33 146 67 40 00

Chennai, India Calgary, Alberta Dietzenbach, Germany
(9144) 2822 4949 (403) 228-2833 49 6074 488 0

Mumbai, India Edmonton, Alberta Milan, Italy
(9122) 2605 7744 (780) 448-2373 39 02 70395 1

New Delhi, India Montreal, Quebec Naarden, The Netherlands
(9111) 2620 7302 (450) 676-5396 31 35 69 94 600

Jakarta, Indonesia Ottawa, Ontario Oslo, Norway
(6221) 5299 4418 (613) 747-4264 47 2276 3500


Krakow, Poland Quito, Ecuador Houston, Texas
48 12 290 14 00 5932-255-8488 (713) 260-8012

Lisbon, Portugal Mexico City, Mexico Irvine, California
351 21 415 3450 52-55-1105-7000 (714) 371-2044

Johannesburg, South Africa Lima, Perú Lexington, Kentucky
27 11 329 0999 511-243-1090 (859) 232-2000

Barcelona, Spain San Juan, Puerto Rico Lexington, Massachusetts
34 934 30 63 07 787-620-8757 (781) 402-3852

Madrid, Spain Coral Gables, Florida, USA Montvale, New Jersey
34 91 436 00 48 305-447-2200 (201) 307-4601

Solna, Sweden Caracas, Venezuela New York, New York
46 8 52 25 79 00 58-212-232-1376 (212) 880-2825

Thalwil, Switzerland Plymouth Meeting, Pennsylvania
41 44 722 88 11 (610) 832-5359

United States
For Central and Eastern Europe; CIS/Baltics; Rockville, Maryland
Greece; Turkey; Israel; the Middle East; (301) 212-5905
North, West and East Africa, and the Indian Atlanta, Georgia
Ocean region, contact the Lexmark Export (770) 510-1778 San Francisco, California
Division in Geneva at 41 22 710 72 42. (925) 658-9609
Bloomington, Minnesota
(952) 896-2100 Seattle, Washington
(425) 453-9082
Chicago, Illinois
Latin America (847) 318-5702 Southfield, Michigan
(248) 263-3262
Buenos Aires, Argentina Dallas, Texas
5411-4319-8900 (214) 257-0049 St. Louis, Missouri
(636) 681-1210
São Paulo, Brazil El Segundo, California
5511-3046-6200 (310) 341-6851

Santiago, Chile Fort Lauderdale, Florida
562-280-9500 (954) 938-3804

Bogotá, Colombia Highlands Ranch, Colorado
571-416-5618 (720) 239-0258

26

C o rporate Information
Independent Registered Public Accounting Firm
Executive Officers
Board of Directors

PricewaterhouseCoopers LLP
Paul J. Curlander, chairman and chief executive officer
Paul J. Curlander, chairman and chief executive officer of
201 East Main Street
Lexmark
Najib Bahous, vice president and president of the Consumer
Suite 1400
Printer Division
B. Charles Ames, principal of Clayton, Dubilier & Rice, Inc.
Lexington, Kentucky 40507
(859) 255-3366
Daniel P. Bork, vice president, tax
Teresa Beck, former president of American Stores Co.

Vincent J. Cole, Esq., vice president, general counsel and
Frank T. Cary, former chairman and chief executive officer of
Transfer Agent
secretary
IBM

The Bank of New York
David L. Goodnight, vice president, Asia Pacific and Latin
William R. Fields, chairman and chief executive officer of APEC
(800) 524-4458
America
(China) Asset Management Ltd.
Stock transfer site: www.stockbny.com
Gary E. Morin, executive vice president and chief financial
Ralph E. Gomory, president of the Alfred P. Sloan Foundation
E-mail: shareowners@bankofny.com
officer
Send shareholder inquiries to:
Stephen R. Hardis, former chairman and chief executive
Shareholder Relations Department
Richard A. Pelini, vice president and treasurer
officer of Eaton Corp.
Box 11258
Paul A. Rooke, executive vice president and president of the
James F. Hardymon, former chairman and chief executive
Church Street Station
Printing Solutions and Services Division
officer of Textron, Inc.
New York, NY 10286-1258
Send certificates for transfer and address changes to:
Gary D. Stromquist, vice president and corporate controller
Robert Holland Jr., general partner of Williams Capital Partners
Receive and Deliver Department
Jeri I. Stromquist, vice president, human resources
Marvin L. Mann, chairman emeritus and former chairman and
Box 11002
chief executive officer of Lexmark
Church Street Station
Investor Relations
New York, NY 10286-1002
Michael J. Maples, former executive vice president
and member of the Office of the President of Microsoft Corp.
John Morgan
Annual Meeting
Lexmark International, Inc.
Martin D. Walker, former chairman and chief executive officer
One Lexmark Centre Drive
of the M.A. Hanna Co.
Lexmark International, Inc., will hold its annual meeting of
Lexington, Kentucky 40550
shareholders at 8 a.m. EDT, Thursday, April 28, 2005,
(859) 232-5568
at the Embassy Suites Hotel, 1801 Newtown Pike,
irinfo@lexmark.com
Lexington, Kentucky.
http://investor.lexmark.com

“Safe harbor” statement under the Private Securities Litigation Reform Act of 1995:

This document may contain forward-looking statements that are based on current expectations, estimates and projections and management’s beliefs and assumptions. All statements which are not statements of historical fact are forward-looking
statements. These statements are not guarantees of future performance and involve certain risks and uncertainties which are difficult to predict and could affect the company’s actual results. Therefore, actual outcomes and results may differ
materially from what is expressed or forecasted in such forward-looking statements. The company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Such risks and uncertainties include, but are not limited to, the impact of competitors’ products, aggressive pricing from competitors and resellers, market acceptance of new products and pricing programs, management of the company’s and
resellers’ inventory levels, increased investment to support product development and marketing, the ability and/or incremental expense to produce and deliver products to satisfy customer demand, conflicts among sales channels, changes in a
country’s or region’s political or economic conditions, currency fluctuations, financial failure or loss of business with a key customer, reseller or supplier, production and supply difficulties including disruptions at important points of exit and entry
and distribution centers, competition in aftermarket supplies, unforeseen cost impacts, the outcome of pending and future litigation or governmental proceedings, intellectual property and other legal claims and expenses, difficulties or delays in
software and information systems implementations, and other risks described in the company’s Securities and Exchange Commission filings.

© 2005 Lexmark International, Inc. All rights reserved. Printed in the United States of America, March 2005. Lexmark, Lexmark with diamond design and MarkVision are trademarks of Lexmark International, Inc., registered in the United States
and/or other countries. Other trademarks are the property of their respective owners.

This is recycled paper.

71K-6600-09


www.lexm ark.com

One Lexmark Centre Drive, Lexington, Kentucky 40550 USA 71K-6600-09
(859) 232-2000

Lexmark AR04

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