News Release

March 20, 2010
Canon. Inc.
  • This is a joint press release by Canon Inc., Canon Finance Netherlands B.V. and Océ N.V. pursuant to article 17 paragraph 4 of the Dutch takeover decree (Besluit openbare biedingen Wft) in connection with the recommended public offer by Canon Finance Netherlands B.V. for all the issued and outstanding ordinary shares in the capital of Océ N.V. This announcement is not for release, publication or distribution, in whole or in part, in or into directly or indirectly the United States and Canada.

Canon holds 84.65% of Océ Ordinary Shares

20 March 2010— Reference is made to the press release of 28 January 2010, in which Canon Inc. ("Canon") and its subsidiary Canon Finance Netherlands B.V. (the "Offeror") and Océ N.V. ("Océ") jointly announced that the Offeror is making a fully self-funded public cash offer (the "Offer") for all the issued and outstanding ordinary shares of Océ (the "Ordinary Shares") at an offer price of EUR 8.60 per Ordinary Share and the press release of 4 March 2010, in which the Offeror declared the Offer unconditional (gestand gedaan).

Post-acceptance period

10,297,246 Ordinary Shares were tendered for acceptance under the Offer during the post-acceptance period (na-aanmeldingstermijn) that ended on 19 March 2010 at 17:30 hours CET (the "Post-Acceptance Closing Date"). The Ordinary Shares tendered under the Offer during the post-acceptance period represent 11.79% of the Ordinary Shares (including Océ's treasury shares) and have an aggregated value of EUR 88,556,315.60.

Including the Ordinary Shares that were acquired in the market during the post-acceptance period, the total number of Ordinary Shares held by or tendered to the Offeror as of the Post-Acceptance Closing Date amounts to 73,934,429 Ordinary Shares, which represent 84.65% of the total number of Ordinary Shares (including Océ's treasury shares).

The total number of shares held by or tendered to the Offeror (including Océ's financing preference shares) as of the Post-Acceptance Closing Date represents approximately 87.51% of the total issued share capital of Océ (including Océ's treasury shares).

Disclaimer

This announcement is for information purposes only and does not constitute an offer or an invitation to acquire or dispose of any securities or investment advice or an inducement to enter into investment activity. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire the securities of Canon or Océ in any jurisdiction.

The distribution of this press release may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, Canon and Océ disclaim any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither Canon, nor Océ, nor any of their advisors assumes any responsibility for any violation by any person of any of these restrictions. Any Océ shareholder who is in any doubt as to his position should consult an appropriate professional advisor without delay.

This press release is also published in Dutch; the English version will prevail over the Dutch version.