STAMFORD, Conn., April 12 /PRNewswire-FirstCall/ -- The Board of Directors of Pitney Bowes Inc. (NYSE: PBI) declared a quarterly cash dividend of the company's common stock of 30.5 cents per share, payable June 12, 2004, to stockholders of record May 21, 2004; a quarterly cash dividend of 53 cents per share on the company's $2.12 convertible preference stock, payable July 1, 2004, to stockholders of record June 15, 2004, and a quarterly cash dividend of 50 cents per share on the company's 4 percent convertible cumulative preferred stock, payable August 1, 2004, to stockholders of record July 15, 2004.

Pitney Bowes is the world's leading provider of integrated mail and document management systems, services and solutions. The $4.6 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. More information on the company is available at www.pb.com.

     Contact:  Marianne Fulgenzi
               Director, External Affairs
               203-351-6974
               Marianne.fulgenzi@pb.com


SOURCE  Pitney Bowes Inc.
    -0-                             04/12/2004
    /CONTACT:  Marianne Fulgenzi, Director, External Affairs of Pitney Bowes
Inc., +1-203-351-6974, or Marianne.fulgenzi@pb.com /
    /Web site:  http://www.pitneybowes.com/
    (PBI)

CO:  Pitney Bowes Inc.
ST:  Connecticut
IN:  CPR ITE MLM
SU:  DIV

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0099 04/12/2004 17:36 EDT http://www.prnewswire.com