STAMFORD, Conn.--(BUSINESS WIRE)--May 8, 2000--Pitney Bowes Inc. (NYSE:PBI) celebrated another record year that included the 21st consecutive quarter of double-digit diluted earnings per share growth at the company's 80th Annual Meeting of Stockholders. Pitney Bowes chairman and CEO Michael J. Critelli and president and COO Marc C. Breslawsky outlined plans for continued growth.

"At the heart of our strategic vision is the recognition that e-commerce has altered the business landscape, fundamentally changing the way businesses interact with each other," noted Mr. Critelli. "Pitney Bowes is at the hub of many of the business processes that are critical to our customers' ability to do business - acquiring customers, improving operating effectiveness and efficiency, managing cash flow, managing supply chain and order fulfillment, improving operating leverage, and desktop messaging and knowledge transfer process. This presents us with a huge set of business opportunities -opportunities that we have only begun to exploit. We will continue to be at the center of these critical interfaces, applying knowledge, expertise and innovation to help our customers succeed."

Mr. Breslawsky added, "We are creating new initiatives to support our customer's mission critical business processes. We can continue to deliver customer and shareholder value through new innovations in the areas of Incoming Mail and Messaging Solutions, Desktop Messaging, Enterprise-wide Document Resource Planning, and strong international growth."

Board members re-elected to three-year terms expiring at the 2003 Annual Meeting were: William E. Butler, retired chairman and chief executive officer of Eaton Corporation; Colin G. Campbell, president of Rockefeller Brothers Fund; Jessica P. Einhorn, former managing director, The World Bank; James H. Keyes, chairman and chief executive officer, Johnson Controls, Inc.

In its regular post-annual meeting session, the Board of Directors authorized the repurchase of $300 million of the company's common shares outstanding. The company has repurchased all of the allowable shares under its previous authorization.

The company recently announced that seven senior executives acquired approximately 35,000 shares of the company's stock since the announcement of first quarter earnings. Mr. Critelli added 7,000 shares in the last three weeks to the more than 39,000 shares he has acquired earlier this year and Mr. Breslawsky increased his ownership position by nearly 30,000 shares. Since the beginning of the year Pitney Bowes executives acquired more than 114,000 shares. Shares were acquired through a combination of open market purchases and stock option exercises.

Pitney Bowes Inc. is a $4.4 billion global provider of informed mail and messaging management. It serves 118 countries through dealer and direct operations. 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 1999 Form 10-K Annual report filed with the Securities and Exchange Commission.

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