Pitney Bowes SmartMailer Software with Delivery Point Validation Reduces
                          Undeliverable Mail Pieces

STAMFORD, Conn., Dec. 11 /PRNewswire-FirstCall/ -- Pitney Bowes Inc. (NYSE: PBI) today launched its Delivery Point Validation (DPV(TM)) feature available for its SmartMailer(TM) 7 Mail Management Software. Pitney Bowes DPV technology can save businesses money by dramatically reducing profit-stealing returned mail pieces due to incorrect or invalid addresses. This also results in less time and expense businesses spend to re-create and process returned mail.

"Undeliverable mail costs businesses billions of dollars each year," said Timothy M. Bates, Vice President, Customer Marketing, Pitney Bowes. "Our Delivery Point Validation software can substantially reduce these costs by cross-referencing each address with United States Postal Service(R) databases to ensure a valid and current delivery point prior to a mailing. By combining DPV with SmartMailer(TM) 7, we've created a powerful solution that helps businesses better manage their mail flow and get the most value out of their customer communications. Mail is a very cost-effective channel to retain existing customers, grow the value of each relationship and acquire new customers."

SmartMailer(TM) 7 Mail Management Software allows mailers to more effectively manage their address database. Its Duplicate Detection feature finds duplicate names and addresses and flags them for the mailer to delete, eliminating unnecessary and costly redundant mail pieces. SmartMailer(TM) 7 also offers an easy-to-use "Wizard" type interface as well as a variety of presort methods approved by the USPS which can help mailers earn significant postal discounts. In addition, with our integrated Envelope Designer(TM) Plus and Clip Art, businesses can use fonts, logos and graphics to create more professional and action-oriented envelopes that can increase openability and response rates. SmartMailer(TM) 7 also offers ForwardTrak(TM) Net, an optional integrated move update tool designed to further maximize mailing efforts by allowing the user to identify and update change of address information on-line and in real time directly from their PC.

For more information on SmartMailer(TM) 7 with DPV, please visit our website at pb.com.

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 2 million businesses through direct and dealer operations.

    * Pitney Bowes Inc. is a non-exclusive licensee of the United States
      Postal Service.
    * DPV is a trademark owned by the United States Postal Service.
    * The price of the DPV option for SmartMailer 7 is offered by Pitney Bowes
      Inc., and is not established, controlled, or approved by the United
      States Postal Service or the United States Government.

     Contact:  Dan Burris
               Pitney Bowes
               203-351-6477
               daniel.burris@pb.com

SOURCE  Pitney Bowes Inc.
    -0-                             12/11/2003
    /CONTACT:  Dan Burris, Pitney Bowes, +1-203-351-6477,
daniel.burris@pb.com/
    /Web site:  http://pb.com /
    (PBI)

CO:  Pitney Bowes Inc.
ST:  Connecticut
IN:  OFP CPR STW
SU:  PDT

MT 
-- NYTH099 --
5154 12/11/2003 09:12 EST http://www.prnewswire.com