STAMFORD, Conn., July 12 /PRNewswire-FirstCall/ -- The Board of Directors of Pitney Bowes Inc. (NYSE: PBI) declared a quarterly cash dividend of the company's common stock of 30.5 cents per share, payable September 12, 2004, to stockholders of record on August 20, 2004; a quarterly cash dividend of 53 cents per share on the company's $2.12 convertible preference stock, payable October 1, 2004, to stockholders of record September 15, 2004; and a quarterly cash dividend of 50 cents per share on the company's 4 percent convertible cumulative preferred stock, payable November 1, 2004, to stockholders of record October 15, 2004.

The company will announce its second quarter 2004 financial results on Monday, July 26 and management will host a conference call at 5:00 p.m. on that day. Instructions for listening to the conference call over the WEB are available on the Investor Relations page of the company's website at http://www.pb.com/investorrelations.

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 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 on the company is available at http://www.pb.com.

     Sheryl Y. Battles
     VP, Corp. Communications
     203-351-6808


SOURCE  Pitney Bowes Inc.
    -0-                             07/12/2004
    /CONTACT:  Sheryl Y. Battles, VP, Corp. Communications, for Pitney Bowes
Inc., +1-203-351-6808, or Charles F. McBride, VP, Investor Relations,
+1-203-351-6349/
    /Web site:  http://www.pb.com
                http://www.pb.com/investorrelations /
    (PBI)

CO:  Pitney Bowes Inc.
ST:  Connecticut
IN:  OFP
SU:  DIV CCA

JL 
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2533 07/12/2004 10:44 EDT http://www.prnewswire.com