Pitney Bowes Declares Common, Preference and Preferred Stock Dividends

STAMFORD, Conn.--(BUSINESS WIRE)--April 12, 1999--

Today, the board of directors of Pitney Bowes Inc. (NYSE: PBI) declared a quarterly cash dividend of the company's common stock to 25.5 cents per share, payable June 12, 1999, to stockholders of record May 28, 1999. The directors also declared a quarterly cash dividend of 53 cents per share on the company's $2.12 convertible preference stock, payable July 1, 1999, to stockholders of record June 16, 1999, and a quarterly cash dividend of 50 cents per share on the company's 4% convertible cumulative preferred stock, payable August 1, 1999, to stockholders of record July 16, 1999.

Pitney Bowes is a global provider of informed mail and messaging management. For more information about the company visit www.pitneybowes.com.

The forward-looking statements contained in this news release involve risks and uncertainties, and are subject to change based on various important factors including timely development and acceptance of new products, 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 1998 Form 10-K Annual Report filed with the Securities and Exchange Commission.

    
    CONTACT: Sheryl Y. Battles
             Executive Director,
             External Affairs
             (203) 351-6808

             Financial -
             Charles F. McBride
             Executive Director,
             Investor Relations
             (203) 351-6349