STAMFORD, Conn., May 1 /PRNewswire-FirstCall/ -- Pitney Bowes Inc. (NYSE: PBI) today announced the sale of its Oce Imagistics, Inc. lease portfolio for approximately $288 million to De Lage Landen, a subsidiary of the Rabobank Group, that specializes in international asset financing and vendor finance programs. The portfolio consists of leases for document imaging solutions, facsimile systems, copiers and multi-functional systems marketed by Oce Imagistics, a division of Oce N.V. (Nasdaq: OCENY).

The company expects to realize about $210 million of after-tax cash proceeds from the transaction and to recognize an after-tax gain of about $10 million.

The sale of the Oce Imagistics lease portfolio is part of the company's strategy to reduce its exposure to the Capital Services external financing business. The company is currently exploring a range of asset and business disposition alternatives for Capital Services including a spin-off, a sale of the business or a sale of all or a portion of the assets.

Pitney Bowes engineers the flow of communication. The company is a $5.6 billion global leader of mailstream solutions headquartered in Stamford, Connecticut. For more information about the company, its products, services and solutions, visit http://www.pitneybowes.com.

This document contains "forward-looking statements" about our expected future business and financial performance. Words such as "estimate," "project," "plan," "believe," expect," "anticipate," "intend," and similar expressions may identify forward-looking statements. Such forward-looking statements are inherently uncertain and involve risks. Consequently, actual results may differ materially from those indicated by the forward-looking statements. A variety of risks and uncertainties could cause Pitney Bowes actual results to differ materially from the anticipated results or other expectations expressed in the Pitney Bowes forward looking statements. The risks and uncertainties include, without limitation, the following: (a) underlying assumptions or expectations related to the spin-off, sale or other disposition transaction proving to be inaccurate or unrealized; (b) the timing of the Securities and Exchange Commission's review of any Pitney Bowes Capital Services registration statement; and, (c) the uncertainty of general business and economic conditions. Additional factors related to these and other expectations are more fully outlined in Pitney Bowes 2005 Form 10-K Annual Report filed with the Securities and Exchange Commission. In addition, the forward-looking statements are subject to change based on the timing and specific terms of the spin-off or other disposition transaction. Pitney Bowes undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Investors are advised however, to consult any further disclosures made on related subjects in the company's reports filed with the SEC.

Press - Sheryl Y. Battles

            VP, Corporate Communications
            (203) 351-6808


SOURCE  Pitney Bowes Inc.
    -0-                             05/01/2006
    /CONTACT:  Press - Sheryl Y. Battles, VP, Corporate Communications,
+1-203-351-6808, or Financial - Charles F. McBride, VP, Investor Relations,
+1-203-351-6349, both of Pitney Bowes Inc./
    /Web site:  http://www.pitneybowes.com /
    (PBI OCENY)

CO:  Pitney Bowes Inc.; Oce Imagistics, Inc.; Oce N.V.; De Lage Landen,;
     Rabobank Group
ST:  Connecticut
IN:  CPR OFP STW
SU:  TNM

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9420 05/01/2006 09:00 EDT http://www.prnewswire.com