Stamford, Conn.--(BUSINESS WIRE)--Feb. 8, 2000--Today, Pitney Bowes Inc. (NYSE: PBI) announced that its board of directors declared a quarterly cash dividend on the company's common stock of 28.5 cents per share, up from 25.5 cents per share in 1999, payable March 12, 2000, to stockholders of record February 25, 2000. As the company indicated in its announcement of full-year 1999 performance, this represents an 11.8 percent increase compared to 1999, marking the eighteenth consecutive year of double-digit dividend increases. Pitney Bowes has paid a dividend on common stock each year since 1934. The directors also declared a quarterly cash dividend of 53 cents per share on the company's $2.12 convertible preference stock, payable April 1, 2000, to stockholders of record March 17, 2000, and a quarterly cash dividend of 50 cents per share on the company's 4% convertible cumulative preferred stock, payable May 1, 2000, to stockholders of record April 14, 2000.

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 and subsequent Form 8-K current report filed with the Securities and Exchange Commission.

     CONTACT:  Sheryl Y. Battles
               Executive Director,
               External Affairs
               203/351-6808
                    or
               Financial
               Charles McBride
               Executive Director,
               Investor Relations
               203/351-6349