Key Role Filled in Anticipation of Sponsored Spin-off

STAMFORD, Conn., Aug. 9 /PRNewswire-FirstCall/ -- Pitney Bowes Capital Services (PBCS), a division of Pitney Bowes Inc. (NYSE: PBI) announced the hiring of David A. Klanica as Vice President and Chief Financial Officer. This position will report directly to Keith Williamson, President, PBCS, and is in anticipation of the planned spin-off of PBCS as an independent, publicly traded company.

Mr. Klanica will help transition the division to an independent, publicly traded company and will serve as the new entity's senior financial officer. "David is a seasoned financial professional who is skilled in managing complex business processes requiring strong interpersonal skills, financial acumen and common sense," said Keith Williamson who will be CEO of the new entity. "He will be a tremendous asset as we go forward as an independent company, and I am thrilled he is joining our very strong leadership team." Mr. Klanica has 29 years of financial management experience, including service with GE Capital where he was Global Technical Controller for Commercial Equipment Financing. He also held positions at Mercedes-Benz Credit Corporation as Director, Accounting Services, and with KPMG LLP as Senior Audit Manager. Mr. Klanica holds a Bachelor of Science Degree in Accounting from Quinnipiac University. He is a Certified Public Accountant and member of the American Institute of Certified Public Accountants and The Connecticut Society of Certified Public Accountants.

Mr. Williamson also noted the recent hire of Clarence J. Bastarache as Vice President and Chief Information Officer, PBCS. Mr. Bastarache assumed responsibility for implementing the technical systems and infrastructures that will support PBCS as a stand-alone company once the spin-off is completed. He has 20 years of diverse Information Technology and Financial Services experience. Prior to joining Pitney Bowes, he had served as Chief Information Officer for the Automotive Finance division of Mercedes-Benz Credit Corporation and subsequently Daimler Chrysler Capital Services, where he led global business process reengineering efforts and IT strategy/organization for a $12 billion finance company. Prior to that, Mr. Bastarache spent nine years with People's Bank in Bridgeport, CT where he held a number of technical support, system development and IT project management positions. Mr. Bastarache received a B.S. degree in Computer and Information Science from Sacred Heart University and holds an A.S. degree from Quinnipiac University.

Mr. Klanica and Mr. Bastarache join a very seasoned team of executive, sales and operational professionals who have worked together for more than a decade, have an average tenure of 25 years in the financial services industry and have built a long track record of success with PBCS.

Pitney Bowes Capital Services provides strategic, custom-tailored commercial financing solutions. With a 25-year heritage and a portfolio of managed assets exceeding $2 billion, PBCS offers an array of quality financing, leasing and advisory services in three areas: Capital Equipment; Vendor Financing; and Commercial Real Estate through its PREFCO business unit. The company's sales force throughout the U.S., supported by top-notch operations, brings the knowledge and flexibility to quickly arrange creative, customized and reliable transactions that deliver a high-quality experience for clients. For more information, please visit http://www.pbcapitalservices.com .

Pitney Bowes is the world's leading provider of integrated mail and document management systems, services and solutions. The $5.3 billion company helps organizations of all sizes efficiently and effectively manage their mission-critical mail and document flow in physical, digital and hybrid formats. Its solutions range from addressing software and metering systems to print stream management, electronic bill presentment and presort mail services. The company's 80-plus years of technological leadership have produced many major innovations in the mailing industry, and it is consistently on the Intellectual Property Owner's list of top U.S. patent holders. With approximately 35,000 employees worldwide, Pitney Bowes serves more than 2 million businesses through direct and dealer operations. Visit http://www.pb.com/pbcs for more information on Capital Services. More information on the company can be found at http://www.pb.com .

     Press-       Sheryl Y. Battles
                  VP, Corporate Communications
                  (203) 351-6808 or
                  Peter Kerr
                  Dir., Media and Editorial Relations
                  (203) 351-6350


SOURCE  Pitney Bowes Inc.
    -0-                             08/09/2005
    /CONTACT:  Press - Sheryl Y. Battles, VP, Corporate Communications,
+1-203-351-6808 or Peter Kerr, Dir., Media and Editorial Relations,
+1-203-351-6350, or Financial - Charles F. McBride, VP, Investor Relations,
+1-203-351-6349, all of Pitney Bowes/
    /Web site:  http://www.pb.com
                http://www.pbcapitalservices.com
                http://www.pb.com/pbcs /
    (PBI)

CO:  Pitney Bowes Capital Services; Pitney Bowes Inc.
ST:  Connecticut
IN:  FIN PUB OFP CPR STW
SU:  PER

KO
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8346 08/09/2005 07:01 EDT http://www.prnewswire.com