Pitney Bowes Declares Common, Preference and Preferred Stock Dividends

STAMFORD, Conn.--(BUSINESS WIRE)--July 12, 1999--Today, the board of directors of Pitney Bowes Inc. (NYSE:PBI) declared a quarterly cash dividend of the company's common stock to 25.5 cents per share, payable September 12, 1999, to stockholders of record August 27, 1999. The directors also declared a quarterly cash dividend of 53 cents per share on the company's $2.12 convertible preference stock, payable October 1, 1999, to stockholders of record September 16, 1999, and a quarterly cash dividend of 50 cents per share on the company's 4% convertible cumulative preferred stock, payable November 1, 1999, to stockholders of record October 15, 1999.

Pitney Bowes is a global provider of informed mail and messaging management. For more information about the company visit www.pitneybowes.com.

The forward-looking statements contained in this news release involve risks and uncertainties, and are subject to change based on various important factors including timely development and acceptance of new products, gaining product approval, successful entry into new markets, changes in interest rates, and changes in postal regulations, as more fully outlined in the company's 1998 Form 10-K Annual Report filed with the Securities and Exchange Commission.

    

    CONTACT: Sheryl Y. Battles
             Executive Director,
             External Affairs
             203/351-6808
             or
             Financial - Charles F. McBride
             Executive Director,
             Investor Relations
             203/351-6349