Business/Technology Editors

    STAMFORD, Conn.--(BUSINESS WIRE)--May 10, 1999--

    Outsourcing Leader Provides `Just In Time' Training Materials
    for IBM Subsidiary

    Pitney Bowes Management Services, Inc. (PBMS), a wholly owned subsidiary of Pitney Bowes Inc. (NYSE:PBI), announced today that it has entered into a contract to provide Catapult, Inc., an IBM subsidiary, with a comprehensive digital document management solution for producing and distributing all of Catapult's training materials on an outsourcing basis. PBMS is a leading provider of innovative outsourcing services and solutions, and Catapult is one of the nation's leading PC and software training companies. Terms of the contract were not disclosed.

Beginning this month, PBMS is responsible for providing Catapult with a turnkey "just in time" solution for the production and distribution of courseware materials for use in thousands of computer and software training programs that the company runs all over the country. Outsourcing this process allows Catapult to reduce turnaround time in the creation and delivery of these materials, reduces inventory exposure, controls shipping costs, and provides greater flexibility to customize programs specifically for select audiences in an on-demand fashion.

PBMS' Document Services group designed and proposed a complete re-engineering of Catapult's total overall process, implemented it and now manages the process, which includes managing Catapult's digital document library, accepting custom electronic orders for targeted course materials, and producing literally millions of training manuals on-demand over the life of the agreement. PBMS also provides courseware fulfillment, media replication (CD's and floppy disks supporting course materials), and assembling content from various Catapult curricula to create customized, on-demand training programs.

"The alliance between Catapult, Inc and PBMS' Document Services group will provide a just-in-time production and fulfillment solution allowing Catapult to achieve its vision for the future," said Tom Ruttkamp, CEO, Catapult.

David J. Rupert, President of PBMS noted: "For over a decade, Pitney Bowes has been the premier provider of materials management outsourcing services for the world's largest training organizations. Our experience and familiarity with the training industry is unrivaled. As a result, market leaders like Catapult embrace Pitney Bowes' vision of training materials management; both for today and tomorrow. We have the people, the processes and the technology to provide a total solution for our customers."

PBMS specializes in helping business find opportunities to increase efficiency and the effectiveness of their support services by providing world-class mail and document management outsourcing solutions for the creation, distribution and storage of documents and messages in both paper and digital form. Customers leverage a comprehensive, diverse portfolio of on-site or off-site capabilities, including mail and message management, reprographics, facsimile, records, electronic document management services, print-on-demand and electronic distribute-then-print solutions, as well as business recovery services and document factory solutions. PBMS' proven knowledge and experience in process, analysis, design, critical measurement tools and engineering of business support functions is brought to the customer through it's proprietary standards and best practices (S&BP).

PBMS' Document Services group provides digital print-on-demand services, with expert capabilities including laser printing, customized book publishing, the creation and maintenance of databases, and the provision of nationwide distributed print. Using documents to manage information and leveraging the use of leading-edge print, software, and communication technologies, PBMS Document Services delivers customized, integrated solutions for all your printing demands.

Pitney Bowes Inc. is a $4.2 billion premier provider of informed mail and messaging management. For more information about the company, please visit our web site at: www.pitneybowes.com.

     --30--jl/ny*

     CONTACT: Pitney Bowes Inc., Stamford
              John O'Mahoney, 203/326-6170

     KEYWORD: CONNECTICUT
     INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED PUBLISHING PRODUCT