STAMFORD, Conn., Sept. 12 /PRNewswire-FirstCall/ -- The Board of Directors of Pitney Bowes Inc. (NYSE: PBI) today authorized the repurchase of up to $300 million of the company's common stock. The company expects to repurchase these shares in the open market over the next 12 to 24 months.

The move demonstrates the Board's continued confidence in the company's strategic direction according to company Chairman and CEO Michael J. Critelli. "We continue to execute on our disciplined strategies to deliver enhanced value to shareholders and customers," Critelli said. "Consistent with these strategies, we are using our free cash flow to increase dividends, repurchase shares of our stock and make acquisitions within our strategic framework. Today's action by the Board signals its endorsement that we are on the right path."

About Pitney Bowes Inc.

Pitney Bowes is the world's leading provider of integrated mail and document management systems, services and solutions. The $5.3 billion company helps organizations of all sizes efficiently and effectively manage their mission-critical mail and document flow in physical, digital and hybrid formats. Its solutions range from addressing software and metering systems to print stream management, electronic bill presentment and presort mail services. The company's 80-plus years of technological leadership have produced many major innovations in the mailing industry, and it is consistently on the Intellectual Property Owners Association's list of top U.S. patent holders. With approximately 35,000 employees worldwide, Pitney Bowes serves more than 2 million businesses through direct and dealer operations. More information on the company can be found at www.pb.com.

     Media Contact:
     Sheryl Battles
     Pitney Bowes Inc.
     VP, Corporate Communications
     203-351-6808

SOURCE  Pitney Bowes Inc.
    -0-                             09/12/2005
    /CONTACT:  Media: Sheryl Battles of Pitney Bowes Inc., VP, Corporate
Communications, +1-203-351-6808   /
    /Web site:  http://www.pb.com /
    (PBI)

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

LK
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9983 09/12/2005 13:28 EDT http://www.prnewswire.com