STAMFORD, Conn., Jan 29, 2002 /PRNewswire-FirstCall via COMTEX/ -- Pitney Bowes Inc. (NYSE: PBI) has announced its plan to offer up to euro 250MM of Notes next week, subject to market conditions, as part of a plan to partially hedge its expanding European operations. The notes will pay interest semi-annually and have a medium-term maturity. The Company has applied to list the notes on the Luxembourg Exchange.

The securities will be issued pursuant to Pitney Bowes' existing shelf registration statement deemed effective by the Securities and Exchange Commission on October 26, 2001. Net proceeds of the offering will be used for general corporate purposes, which will include repaying commercial paper, financing acquisitions and repurchasing PBI stock. The underwriting group will consist of Goldman Sachs International as sole bookrunner, Deutsche Bank, ABN Amro and JP Morgan.

Pitney Bowes is a global provider of integrated mail and document management solutions headquartered in Stamford, Connecticut.

This news release is not an offer to sell or a solicitation of an offer to buy any security. Any such offer may only be made by means of the preliminary prospectus supplement and the related prospectus, copies of which may be obtained starting Monday from the managers of the offering.

     Contact:  Dan Burris
               Pitney Bowes Inc.
               203-351-6477

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SOURCE Pitney Bowes Inc.

CONTACT:          Dan Burris, Pitney Bowes Inc., +1-203-351-6477

URL:              http://www.pitneybowes.com
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