TRUMBULL, Conn.--(BUSINESS WIRE)--Jan. 16, 2001--Pitney Bowes Inc. (NYSE:PBI) today announced the appointment of Joseph D. Skrzypczak as chief financial officer, Pitney Bowes Office Systems. Skrzypczak will oversee the financial, accounting, administrative, information technology, and reporting responsibilities of the office systems business, and help guide the business as it transitions into an independent, publicly traded company later this year.

Previously, Skrzypczak served as chief operating officer and chief financial officer of Dictaphone Corporation, and played an integral part in doubling Dictaphone's 1999 cash flows from $30 million to $60 million and recording the company's best revenue growth period in ten years. "Joe's exemplary track record, familiarity with the challenges faced by a direct sales and service organization and awareness of the competitive pressures within the office products industry will make him a key member of our transition team," stated Marc Breslawsky, chief executive officer, Pitney Bowes Office Systems.

Skrzypczak is no stranger to Pitney Bowes Office Systems, having joined them in 1981 after positions with Revlon and Price Waterhouse. Up until the sale of Dictaphone in 1995 by Pitney Bowes, Skrzypczak held several positions at Pitney Bowes including vice president of finance for Pitney Bowes Office Systems Division which included the Dictaphone Corporation, and Pitney Bowes Copier and Facsimile Systems, where he was directly responsible for all financial and administrative activities of those units. During that time, the Copier Systems business grew into a profitable business, and the Facsimile Division recorded year after year of strong revenue and growth.

"During a period of accelerated technological development, changing market dynamics and fierce competition, I have watched Pitney Bowes Office Systems develop into a world class solution provider," stated Skrzypczak. "The recently announced spin-off of the business from Pitney Bowes Inc. will enable Office Systems to move faster and more efficiently while capitalizing on the resources and relationships of one of the most trusted brands in the business. With the best line of copiers in the industry, leadership position in the corporate fax market, and possessing an experienced national sales force, no company is better suited to meet the ever increasing demands of customers."

Pitney Bowes Office Systems offers high performance, leading-edge analog and digital copier/printer and facsimile systems for the corporate market through a coast-to-coast direct sales/service organization. All products are supported by the company's Customer Satisfaction Guarantee. Pitney Bowes Office Systems is the recipient of the "Digital Imaging System of the Year" from Buyers Laboratory Inc., and has received the 2000 "Editors Choice Award" from Better Buys for Business. For more information on Pitney Bowes Office Systems digital multifunction, analog copier and facsimile products, customers may log on to www.pitneybowes.com.

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