STAMFORD, Conn., Dec 18, 2003 /PRNewswire-FirstCall via Comtex/ -- Pitney Bowes Inc. (NYSE: PBI) announced today that it has amended its Stockholder Rights Plan to expire on February 20, 2004, two years before the February 20, 2006 expiration date initially provided under the plan.

Commenting on the decision, Pitney Bowes Chairman and Chief Executive Officer Michael J. Critelli stated, "This action reflects the Board's responsiveness to the wishes of our stockholders." A stockholder proposal presented at the May 2003 annual meeting requesting that the rights either be redeemed or voted upon by the stockholders received approximately 48 percent of the votes outstanding and 63 percent of the votes cast by or on behalf of stockholders. The proponent submitted a similar proposal for the Company's 2004 annual meeting, which has now been withdrawn.

The Board of Directors retains the right to adopt a new stockholder rights plan in the future to protect stockholder interests based upon changed circumstances that may arise.

Pitney Bowes engineers the flow of communication. The company is a $4.4 billion global leader of integrated mail and document management solutions headquartered in Stamford, Connecticut. For more information about the company, its products, services and solutions, visit www.pitneybowes.com

     Contact:  Marianne Fulgenzi
               Director, External Affairs
               +1-203-351-6974

SOURCE Pitney Bowes Inc.

Marianne Fulgenzi, Director, External Affairs, Pitney Bowes,
+1-203-351-6974

http://www.prnewswire.com