STAMFORD, Conn., July 24 /PRNewswire-FirstCall/ -- Pitney Bowes Inc. (NYSE: PBI) today announced that it has signed a definitive agreement to acquire 100% of the stock of Print, Inc. for approximately $47 million, net of cash and debt. Print, Inc. is a leader in a rapidly growing component of the print management market that provides bundled offerings of printer supplies, service and equipment to manage document production. These operations will be integrated into a wholly-owned subsidiary of the company, and operate as part of its Pitney Bowes Direct group led by Neil Metviner, Executive Vice President and President Pitney Bowes Direct.

This acquisition helps the company add value in another critical part of the mailstream, according to Michael J. Critelli, Chairman and CEO of Pitney Bowes. "Managing the printing of documents is a key activity involved in the production of effective mail and documents. Yet, as important as it is, most businesses rely on an array of separate vendors to provide printer equipment, printer supplies such as paper, ink and toner, and maintenance and repair services for their printer fleet. By providing bundled offerings of supplies, services and equipment, Print, Inc. pioneered a holistic approach to optimizing print resources and managing total costs. It serves as the perfect platform for leveraging our national sales and service networks, management services solutions, and current printing supplies offerings, while expanding the array of comprehensive printing solutions available to all of our customers."

Print, Inc. uses the term Document Management Infrastructure (DMI) to describe this rapidly growing, emerging component of the mailstream that integrates supplies, service and printers into a consolidated program. They are a leading provider in the DMI market which is projected to grow at 30%. Print, Inc. generated approximately $49 million in revenue in 2005 by supporting small to mid-size customers in a variety of industry verticals, such as legal services. They are headquartered near Bellevue, Washington and they employ 221 people in 15 sites.

Gary Stevens, CEO and founder of Print, Inc. noted, "This acquisition represents a win for all of our customers. We are excited to become a part of the leader of the global mailstream and look forward to growing the array of high value print management solutions that we provide."

Subject to the completion of customary conditions this transaction is expected to close during the third quarter of 2006.

Pitney Bowes provides the world's most comprehensive suite of mailstream software, hardware, services and solutions to help companies manage their flow of mail, documents and packages to improve communication. Pitney Bowes, with $5.5 billion in annual revenue, takes an all-inclusive view of its customers' operations, helping organizations of all sizes enjoy the competitive advantage that comes from an optimized mailstream. The company's 86 years of technological leadership have produced many major mailstream innovations, and it is consistently on the Intellectual Property Owners Association's list of top U.S. patent holders. With approximately 34,000 employees worldwide, Pitney Bowes serves more than 2 million businesses through direct and dealer operations. More information about the company can be found at http://www.pb.com. More information about Print, Inc. can be found at http://www.printinc.com.

Certain information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are inherently uncertain and involve risks. Consequently, actual results may differ materially from those indicated by the forward-looking statements. These statements may be identified by their use of forward-looking terminology such as the words "expects," "anticipates," "intends" and other similar words. Such forward-looking statements include, but are not limited to, statements about growth strategies, market expansion, etc. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to: negative developments in economic conditions, including adverse impacts on customer demand, timely development and acceptance of new products or gaining product approval; successful entry into new markets; changes in interest rates; and changes in postal regulations, as more fully outlined in the company's 2005 Form 10-K Annual Report filed with the Securities and Exchange Commission. In addition, the forward-looking statements are subject to change based on the timing and specific terms of any announced acquisitions. The forward-looking statements contained in this news release are made as of the date hereof and we do not assume any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.

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


SOURCE  Pitney Bowes Inc.
    -0-                             07/24/2006
    /CONTACT:  Sheryl Y. Battles, VP, Corporate Communications,
+1-203-351-6808, Charles F. McBride, VP, Investor Relations, +1-203-351-6349,
both of Pitney Bowes Inc./
    /Web site:  http://www.pb.com
                http://www.printinc.com /
    (PBI)

CO:  Pitney Bowes Inc.; Print, Inc.
ST:  Connecticut
IN:  OFP CPR PEL
SU:  TNM

MJ
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8739 07/24/2006 09:00 EDT http://www.prnewswire.com