- Partnership Underscores Pitney Bowes Commitment to the Healthcare Industry -

STAMFORD, Conn., May 25 /PRNewswire-FirstCall/ -- Pitney Bowes Inc. (NYSE: PBI) today announced that Pitney Bowes Management Services has received a special partner award for outstanding performance in Facilities and Engineering from Bristol-Myers Squibb, a leading global provider of pharmaceutical and related healthcare products. The award was delivered in conjunction with Bristol-Myers Squibb's first annual North American Supplier Conference, hosted on May 24th in New York City. The event brought together key executives from the company and its various suppliers and business partners to discuss the state of the business, highlight new innovations and define the structure of future collaborations. Bristol-Myers Squibb recognized Pitney Bowes for its partnership and success in delivering savings in excess of $800,000 over the last two years.

"We are happy to include Pitney Bowes Management Services among our list of trusted partners," stated Wayne Eppinger, Director of Global Engineering and Facilities Sourcing, Bristol-Myers Squibb. "Their willingness to walk in our shoes and learn our business has allowed us to develop new savings and efficiencies for Bristol-Myers Squibb, while exceeding year-over-year performance agreements. Specifically, Pitney Bowes Management Services has demonstrated its expertise in managing important healthcare business processes and is today effectively providing important document management services."

The Pitney Bowes/Bristol-Myers Squibb relationship began in 1997, when Pitney Bowes began managing the mail and document facilities across half a dozen Bristol-Myers Squibb sites in New Jersey and New York. These services focused on mail management, reproduction, forms management and Desktop Publishing. Since then, Pitney Bowes has expanded its presence and today employs nearly 180 staff members across nine sites, and influences critical business processes including Clinical Fulfillment, Lab Services, and Customer Care processing.

Pitney Bowes also has partnered with Bristol-Myers Squibb Administrative Services to:

     * Develop a portal for business cards and company stationary.
     * Establish a network color capability to all sites in Central New
       Jersey.  This resulted in cost savings and increased productivity by
       shortening business cycle time by one to two days.
     * Utilize online invoicing tool, ECOutlook to centralize all Pitney Bowes
       billing online.
     * Provide consultative services to benchmark Bristol-Myers Squibb
       locations on a national and global status.

"Many document and operations professionals in the healthcare industry are eager to find new ways to increase efficiency and savings for their organizations," stated Arlen Hennock, Vice President, Global Enterprise Solutions, Pitney Bowes Inc. "We have remained the leader in our industry because of our core philosophy and ability to deliver solutions unique to the specialized markets where we participate, including the Government Sector, Legal, Healthcare and Financial Services. We base our success not only on our ability to exceed customer expectations and provide them with savings, but in the fact that we create solutions for our customer's strategic business processes which is often an important means of competitive differentiation."

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global pharmaceutical and related healthcare products company whose mission is to extend and enhance human life. Visit Bristol-Myers Squibb on the World Wide Web at www.bms.com

About Pitney Bowes

Pitney Bowes Management Services provides critical document management and records and information management solutions to the healthcare industry and engineers integrated solutions for law firms, corporate legal departments and government agencies. Pitney Bowes' 80-plus years of technological leadership has produced many major innovations in the mailing industry and more than 3,500 active patents with applications in a variety of markets, including printing, shipping, encryption, and financial services. With approximately 33,000 employees worldwide, Pitney Bowes serves more than 2 million businesses through direct and dealer operations. More information about Pitney Bowes can be found at www.pb.com.

    Contact:
             Christopher Tessier
             Manager, Public Relations
             203-351-7210
             Christopher.Tessier@pb.com


SOURCE  Pitney Bowes Inc.
    -0-                             05/25/2004
    /CONTACT:  Christopher Tessier, Manager, Public Relations of Pitney Bowes
Inc., +1-203-351-7210, or Christopher.Tessier@pb.com /
    /Web site:  http://www.pb.com
                http://www.bms.com /
    (PBI)

CO:  Pitney Bowes Inc.; Bristol-Myers Squibb
ST:  Connecticut
IN:  HEA MTC
SU:  AWD

AC 
-- NYTU173 --
2081 05/25/2004 13:46 EDT http://www.prnewswire.com