STAMFORD, Conn.--(BUSINESS WIRE)--April 13, 2000--

Company Leverages Intellectual Property Strategically

to Deliver Innovation In the New Economy

Pitney Bowes Inc. (NYSE:PBI) today announced that for the 14th consecutive year the Washington, D.C.-based Intellectual Property Owners (IPO) Association, has ranked it in the top 200 companies worldwide receiving U.S. patents.

While this accolade is for U.S. patents only, the company currently holds more than 3,300 active patents worldwide as a result of its consistent investment and commitment to research and development. Pitney Bowes' wealth of intellectual assets cover a range of technologies and business applications that are key in the new economy such as ticketing, cellular telephones, shipping, laser printing, encryption and mailing to name a few.

"Intellectual property is the cornerstone of innovation in both the old and the new economy," said Michael J. Critelli, chairman and CEO of Pitney Bowes. "A part of our growth strategy is to leverage our broad range of technological assets aggressively in the new economy by direct development and delivery of innovative products and services; formation of strategic alliances or joint ventures using our intellectual property as a significant portion of our investment; and by licensing our technology to others who are interested in participating in markets which use the technology.

"We feel this strategy constitutes a winning outcome for everyone because it results in a steady stream of innovation to the marketplace, strategic alliances which speed the commercialization of breakthrough technology, a recurring source of revenue and income and a fair return to our shareholders for our significant investment in research and development."

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

"Pitney Bowes was literally founded on technological innovation. Our 14 consecutive appearances on IPO's list underscore our unwavering focus on developing and applying technologies to help businesses of all sizes effectively manage mission-critical business communications," Critelli concluded.

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.

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

Charles F. McBride, 203/351-6349 (Investor Relations)