Pitney Bowes Declares Common, Preference and Preferred Stock Dividends

STAMFORD, Conn.--(BUSINESS WIRE)--Jan. 28,l 1999-- Today, Pitney Bowes Inc. (NYSE: PBI) announced that its board of directors declared a quarterly cash dividend on the company's common stock of 25.5 cents per share up from 22.5 cents per share, payable March 12, 1999, to stockholders of record February 25, 1999. As the company indicated in its announcement of full-year 1998 performance, this represents a 13.3 percent increase compared to 1998, marking the seventeenth consecutive year of double-digit dividend increases. Pitney Bowes has paid a dividend on common stock each year since 1934. The directors also declared a quarterly cash dividend of 53 cents per share on the company's $2.12 convertible preference stock, payable April 1, 1999, to stockholders of record March 17, 1999, and a quarterly cash dividend of 50 cents per share on the company's 4% convertible cumulative preferred stock, payable May 1, 1999, to stockholders of record April 16, 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 1997 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 McBride
              Executive Director,
              Investor Relations
              (203) 351-6349