Company Recognized For Its Successful Leadership Development Practices

STAMFORD, Conn., Oct. 7 /PRNewswire-FirstCall/ -- Pitney Bowes Inc. (NYSE: PBI) today announced it has been ranked in Chief Executive Magazine's List of Top 20 Companies for Leaders. The judges panel, which consisted of world-renowned authors, professors, business executives and executive coaches, used data from Hewitt Associates' recent leadership study in their selection of Pitney Bowes as a top company for leadership.

"We are very proud to be named one of the Top 20 Companies for Leaders," said Pitney Bowes Chairman and CEO Michael J. Critelli. "Developing a diverse group of leadership talent is a key part of our corporate growth strategy and an area that I am personally dedicated to. In order to realize our long-term growth targets, we need to have a steady pipeline of leaders ready to accept new challenges and deliver on our promise to increase customer and shareholder value."

Hewitt Associates, a global human resources outsourcing and consulting firm, conducted the leadership survey, which highlighted the key factors that differentiate the top companies, and identified companies that consistently produce great leaders. More than 300 major companies nationwide participated in the study and approximately 60 finalist companies were selected and interviewed. Responses were analyzed based on several measures, including the breadth and depth of leadership development practices, degree of senior team support, performance management practices and company financial performance.

"Great leadership is critical, given the ever-changing nature of today's corporate environment," said Marc Effron, global practice leader, Leadership Consulting at Hewitt Associates, a global human resources outsourcing and consulting firm. "Now more than ever, companies need to focus on leadership development by aligning their initiatives to business goals, identifying and developing future leaders, and eliciting support from senior management."

In 2000, Pitney Bowes made a commitment to develop its leadership and enhance key skills across its management team with the launch of its LEAD Program, a multi-faceted, integrated, global initiative to build the talent to lead the company's present business, as well as into the future.

"At Pitney Bowes, we have a very strong leadership and talent development process that has the full support of the CEO and Board of Directors," said Johnna G. Torsone, Senior Vice President and Chief Human Resources Officer at Pitney Bowes. "Developing existing leaders and attracting new talent is critical to our ability to succeed in a competitive global market."

Pitney Bowes was ranked number 16. The five independent judges were Judy Dobrynzski, managing editor, business news, CNBC; Marshall Goldsmith, executive coach and author; Rakesh Khurana, assistant professor, Harvard Business School; Robert Mittelstaedt, vice dean of executive education at the Wharton School, University of Pennsylvania; and Jeffrey Sonnenfeld, associate dean, Yale School of Management.

Chief Executive magazine (www.chiefexecutive.net), a leading source of intelligence for and about CEOs, provides ideas, strategies and tactics for top corporate leaders seeking to build more effective organizations.

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.

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


SOURCE  Pitney Bowes Inc.
    -0-                             10/07/2003
    /CONTACT:  Dan Burris of Pitney Bowes, +1-203-351-6477 or
daniel.burris@pb.com/
    /Web site:  http://www.pitneybowes.com
                http://www.chiefexecutive.net /
    (PBI)

CO:  Pitney Bowes Inc.; Hewitt Associates
ST:  Connecticut
IN:  OFP PUB
SU:  AWD

NM 
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1038 10/07/2003 12:19 EDT http://www.prnewswire.com