STAMFORD, Conn., Jun 28, 2001 /PRNewswire/ -- Pitney Bowes Inc. (NYSE: PBI) today announced the settlement of a patent infringement litigation with E-Stamp Corp. E-Stamp will pay Pitney Bowes an unspecified amount in damages for settlement of Pitney Bowes' suit alleging infringement of seven of its patents relating to Internet postage. No further details of the settlement will be made available.

"We are pleased with the settlement reached with E-stamp," said Michael E. Melton, deputy general counsel, Intellectual Property and Technology Law, Pitney Bowes. "With over 3,300 active patents worldwide, we are committed to strategically managing our vast intellectual property portfolio to enhance shareholder value."

Pitney Bowes has a long history of licensing its technology, and currently has agreements with companies in a variety of industries, including printing, word processing, shipping and mailing.

Pitney Bowes is a $4 billion global provider of integrated mail and document management solutions, headquartered in Stamford, Connecticut. The company serves over 2 million businesses of all sizes through dealer and direct operations. For additional information about the company, visit http://www.pitneybowes.com.

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SOURCE Pitney Bowes Inc.

CONTACT:          Sheryl Y. Battles, Exec. Director, External Affairs,
                  203-351-6808, or Charles F. McBride, Exec. Director, Investor Relations,
                  203-351-6349, both of Pitney Bowes Inc.