STAMFORD, Conn., Nov. 10 /PRNewswire-FirstCall/ -- The Board of Directors of Pitney Bowes Inc. (NYSE: PBI) declared a quarterly cash dividend of the company's common stock of 30 cents per share, payable December 12, 2003, to stockholders of record on November 21, 2003; a quarterly cash dividend of 53 cents per share on the company's $2.12 convertible preference stock, payable January 1, 2004 to stockholders of record December 15, 2003; and a quarterly cash dividend of 50 cents per share on the company's four percent convertible cumulative preferred stock, payable February 1, 2004, to stockholders of record January 15, 2004.

Pitney Bowes is the world's leading provider of integrated mail and document management systems, services and solutions. The $4.4 billion company helps organizations of all sizes engineer the flow of communication to reduce costs and increase impact, and enhance customer relationships. The company's 80-plus years of technological leadership has produced many major innovations in the mailing industry and more than 2,500 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 two million businesses through direct and dealer operations.

Contact: Marianne Fulgenzi

              Director, External Affairs
              203-351-6974


SOURCE  Pitney Bowes Inc.
    -0-                             11/10/2003
    /CONTACT: Marianne Fulgenzi, Director, External Affairs of
+1-203-351-6974/
    /Web site:  http://www.pitneybowes.com/
    (PBI)

CO:  Pitney Bowes Inc.
ST:  Connecticut
IN:  CPR NET MLM OFP
SU:  DIV

LK 
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