STAMFORD, Conn., Oct. 25 /PRNewswire/ -- Pitney Bowes Capital Services, a division of Pitney Bowes, Inc. (NYSE: PBI), today announced the launch of PitneyEscrow.com, the first in a series of solutions in the PitneyB2BCapital suite of online financial services. PitneyEscrow.com will provide e-marketplaces with escrow management, funds management, secure communications and logistics services.

"Pitney Bowes Capital Services' goal is to become the leading online financial solutions provider by providing procurement companies, suppliers and auction sites with versatile payment systems for their business operations," said Keith H. Williamson, president of Pitney Bowes Capital Services. "In addition, PitneyEscrow.com will offer both buyers and sellers increased control by securely holding funds until all terms of the purchase are complete."

"Our approach is to leverage Pitney Bowes' position as a trusted online financial services provider," said Michael Ryan, vice president of Pitney Bowes Capital Services. "As more transactions move online, PitneyEscrow.com will ensure a secure environment for both buyers and sellers and will enhance transaction efficiency."

To build the comprehensive online escrow system, Bowstreet was chosen to carry out XML integration for future partner sites. The automated interconnecting of companies in a next-generation "business web" will dramatically expand Pitney Bowes' market reach while reducing the time and complexity of integrating partner sites.

"PitneyEscrow will facilitate an environment conducive to secure online transactions between buyers and sellers," stated Bob Crowley, president and CEO of Bowstreet, a leading provider of business web automation solutions for plug-and-play e-commerce.

With Bowstreet, PitneyEscrow.com will create the backbone for its platform that will bring security to sizable transactions in digital marketplaces between unknown buyers and sellers.

Further supporting the company's online venture, elcom, inc. has signed on to become the first partner site to benefit from PitneyEscrow's capabilities. elcom, inc., an e-marketplace solutions provider for computer and office products, will greatly benefit from the dramatic growth for electronics products, as forecast by the Boston Consulting Group.

"Pitney Bowes Capital Services' escrow management tools will drastically reduce the number of transaction abandonment and assist in rapidly executing online transactions for a variety of equipment. It is poised to become the preferred partner for businesses looking to cut delivery times for their products and to eliminate accounts in arrears," said Timothy Lindner, senior vice president of elcom, inc., the eProcurement and eMarketplace solutions subsidiary of Elcom International, Inc. (Nasdaq: ELCO).

Pitney Bowes Bank, an FDIC insured institution, will play a crucial role in making PitneyEscrow.com the one-stop solution for purchasing agents. Additionally, PitneyEscrow's technology ensures both server and registration security by utilizing SSL and 128-bit browsers, thus enabling secure transactions.

About Pitney Bowes Capital Services

In addition to being a market leader of large-ticket equipment financing for the Fortune 1000, Pitney Bowes Capital Services, through its PitneyB2BCapital suite of products and services, is rapidly becoming a leading facilitator of online financial services. PitneyB2BCapital offers real-time, secure transactions using innovative proprietary technology, providing buyers and sellers with the security of a trusted third party. Additional information on the PitneyB2BCapital suite can be found at http://www.pitneyb2bcapital.pb.com or PitneyEscrow at http://www.pitneyescrow.pb.com. Pitney Bowes Capital Services is a division of Pitney Bowes Inc., a $4.4 billion global provider of messaging management. Additional information on Pitney Bowes can be found at http://www.pitneybowes.com.

About Bowstreet

Bowstreet provides XML infrastructure for plug-and-play e-commerce. Bowstreet's Business Web Factory and businessweb.com use change automation technology to create business webs: fluid interconnected collections of web services that come together dynamically over the Internet to create entirely new business models. Bowstreet's pioneering solutions enable companies to sell new products and services, create new channels of distribution and develop new business initiatives at a fraction of the time and cost of today's approaches. For more information, call 603-559-1900 or visit http://www.bowstreet.com.

About Elcom International, Inc.

Elcom International, Inc. (http://www.elcominternational.com), through its wholly-owned subsidiary, elcom, inc., is the global leader of remotely-hosted eProcurement and eMarketplace solutions. elcom's innovative technology leadership with PECOS Internet Procurement Manager, the world's first "live" remotely-hosted eProcurement platform, and PECOS Internet Exchange Manager, its second generation eMarketplace platform, establishes the next standard of value and enables enterprises of all sizes to realize the many benefits of B2B eCommerce without the burden of infrastructure investment and ongoing content and system management. elcom, inc. competes against such companies as Ariba, Inc., Commerce One, PurchasePro.com, and Clarus Corporation.

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 1999 Form 10-K Annual Report filed with the Securities and Exchange Commission.

Statement Under the Private Securities Litigation Reform Act

This press release includes statements that may constitute forward-looking statements. All statements other than statements of historical fact, including, without limitation, those with respect to the Company's objectives, plans and strategies set forth herein and those preceded by or that include the words "believes," "intends," "expects," "will," "plans," "anticipates," or similar expressions, are forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Such risks and uncertainties include: the overall markets' and individual customers' acceptance and usage of the Company's electronic commerce software systems, the uncertainties surrounding the negotiation and formation of any joint venture, the risks of doing business in foreign countries, and the impact of competitive technology products as well as factors and other risks detailed in the Company's Registration Statement on Form S-3 and from time to time in the Company's other reports filed with the SEC. The Company assumes no obligation to update any of the formats of, or information contained or referenced, in this announcement.

    Pitney Bowes Contacts:
    Kelly O'Brien                            Thomas Lutazi
    Pitney Bowes Capital Services            PR 21 for Pitney Bowes
    Tel:  (203) 922-4291                     Capital Services
    Fax:  (203) 922-4083                     Tel:  (212) 299-8995
    kobrien@pbfs.com                         Fax:  (212) 462-1026
                                             thomas_lutazi@pr21.com

    Bowstreet Contacts:
    Ann Kelly                                Jeff Aubin
    Bowstreet                                Beaupre & Co. Public
    Tel:  (603)-559-1557                     Relations Inc.
    akelly@bowstreet.com                     Tel: (603)-559-5838
                                             jaubin@beaupre.com

    elcom, inc. Contacts:
                                             Edelman Public Relations:
    Investor Relations                       Chris Barber
    E-mail:  invrel@elcom                    Tel:  (617) 878-2005
    Voicemail:  (781) 501-4094               Chris_Barber@Edelman.com

SOURCE Pitney Bowes Capital Services

CONTACT: Kelly O'Brien of Pitney Bowes Capital Services, 203-922-4291, or fax, 203-922-4083, or kobrien@pbfs.com; or Thomas Lutazi of PR 21, 212-299-8995, or fax, 212-462-1026, or thomas_lutazi@pr21.com, for Pitney Bowes Capital Services; or Ann Kelly of Bowstreet, 603-559-1557, or akelly@bowstreet.com; or Jeff Aubin of Beaupre & Co. Public Relations Inc., 603-559-5838, or jaubin@beaupre.com, for Bowstreet; or Investor Relations of elcom, inc., voicemail, 781-501-4094, or invrel@elcom; or Chris Barber of Edelman Public Relations, 617-878-2005, or Chris_Barber@Edelman.com, for elcom, inc./