Board Also Declares Common, Preference and Preferred Stock Dividends

STAMFORD, Conn., July 14 /PRNewswire-FirstCall/ -- The Board of Directors of Pitney Bowes Inc. (NYSE: PBI) today named Amy Crean Corn to the newly created position of Chief Governance Officer. Ms. Corn will also continue in her current position as vice president and corporate secretary.

Pitney Bowes Chairman and CEO Michael J. Critelli stated that this new position underscores the company's long-standing focus on corporate governance. "At a time when corporate governance has come under fire, creating this position will further solidify our commitment to maintaining the highest standards in corporate governance and integrity, as well as to maximizing shareholder and customer value."

In addition to providing key support to the board of directors regarding the development and implementation of best practices in governance, the Chief Governance Officer's responsibilities will include leadership of the company's Corporate Compliance and Integrity Affairs, and Safety and Environmental units.

In other board actions, the board of directors declared a quarterly cash dividend of the company's common stock of 30 cents per share, payable September 12, 2003, to stockholders of record on August 22, 2003; a quarterly cash dividend of 53 cents per share on the company's $2.12 convertible preference stock, payable October 1, 2003 to stockholders of record September 15, 2003; and a quarterly cash dividend of 50 cents per share on the company's four percent convertible cumulative preferred stock, payable November 1, 2003, to stockholders of record October 15, 2003.

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 two million businesses through direct and dealer operations. More information on the company is available at www.pb.com.

     Contact:  Marianne Fulgenzi
               Director, External Affairs
               203-351-6974
               Marianne.fulgenzi@pb.com


SOURCE  Pitney Bowes Inc.
    -0-                             07/14/2003
    /CONTACT:  Marianne Fulgenzi, Director, External Affairs of Pitney Bowes
Inc., +1-203-351-6974, Marianne.fulgenzi@pb.com /
    /Web site:  http://www.pb.com /
    (PBI)

CO:  Pitney Bowes Inc.
ST:  Connecticut
IN:  CPR PEL OFP
SU:  PER DIV

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1324 07/14/2003 13:16 EDT http://www.prnewswire.com