STAMFORD, Conn.--(BUSINESS WIRE)--July 10, 2000--The board of directors of Pitney Bowes Inc. (NYSE:PBI) today elected John S. McFarlane, President, Network Service Provider Division of Sun Microsystems, to the board effective October 1, 2000.

The Network Service Provider Division of Sun Microsystems focuses on the needs of network-based telecommunications companies, cable operators, and the network equipment suppliers who develop products and technologies to the broader service provider industry. Sun Microsystems is an $11.7 billion company that designs, manufactures, markets and services network-based distributed computing systems.

"We are proud to have John McFarlane join our board of directors," said Michael J. Critelli, chairman and CEO of Pitney Bowes. "His experience, leadership and success in the telecommunications and high technology industry will prove very valuable as we position Pitney Bowes for success in the new economy."

As President of Sun's Network Service Provider Division, Mr. McFarlane is responsible for ensuring that Sun delivers comprehensive products and programs to meet the needs of large, facilities-based network service providers. He oversees the engineering, marketing, and support of hardware and software products specifically targeted to the telecommunications industry.

Mr. McFarlane was president of Sun's Solaris Software Division from April 1998 to July 1999. Prior to Sun, he spent 17 years with Nortel, where he was responsible for data networking, broadband networks, fiber-optic communications systems, enterprise networks and network management.

Mr. McFarlane was elected to the class of directors on the Pitney Bowes board whose terms expire at the 2001 Annual Meeting. He also serves on the board of directors of two Silicon Valley-based companies -- Resonate Inc. and Objectivity Inc.

The board of directors of Pitney Bowes also declared a quarterly cash dividend of the company's common stock of 28.5 cents per share, payable on September 12, 2000, to stockholders of record August 25, 2000; a quarterly cash dividend of 53 cents per share on the company's $2.12 convertible preference stock, payable October 1, 2000, to stockholders of record September 15, 2000; and, a quarterly cash dividend of 50 cents per share on the company's 4% convertible cumulative preferred stock, payable November 1, 2000, to stockholders of record October 1, 2000.

Pitney Bowes is a global provider of informed mail and messaging management. For more information about the company visit www.pitneybowes.com.

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