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Pitney Bowes Selected as a 'Best Investment' by SmartMoney
Magazine Rates Pitney Bowes' Stock as a 'First Choice' Pick
Pitney Bowes Inc. (NYSE: PBI) is one of the "Best Investments 2002," according to SmartMoney. The publication ranked Pitney Bowes' stock as a "First Choice" in the "Office Equipment and Services" category in its January 2002 issue."This past year, Pitney Bowes has undertaken a major shift in its strategic direction to provide value to our shareholders and achieve a global market leadership position. This recognition from SmartMoney underscores our accomplishments during the year and helps set the stage for 2002, when we will continue our shareholder value focus," said Michael J. Critelli, chairman and CEO, Pitney Bowes.
During 2001, Pitney Bowes adopted an aggressive strategy to transition its business portfolio and accelerate growth. Its actions included the spin-off of its Office Systems division and a series of acquisitions and partnerships which enabled the company to expand its international presence and strengthen its portfolio of services. These acquisitions, which include Danka Services International, Vertex Interactive, SECAP and Bell & Howell's International Mail and Messaging Technologies among others, also extended Pitney Bowes' global reach and strengthened its ability to deliver cutting-edge mail and document management systems worldwide.
Other strategic moves that have enabled Pitney Bowes to deliver shareholder value include:
-- Consolidation of the company's domestic and offshore mailing
businesses into Global Mailing Solutions to leverage greater
technological and marketing efficiencies, and offer expanded
opportunities for growth, both in the U.S. and abroad.
-- Continuation of its long history of technological innovation,
emphasizing research and development around physical and digital
communications processes. The company has taken the lead in the
development of the next generation digital mailing technology. The new
digital systems greatly streamline information flow between customers
and the posts, increasing Pitney Bowes' margins with an already
well-defined customer base.
-- The growth of Pitney Bowes' Management Services group into a
$1 billion-plus business through strong organic growth and strategic
acquisitions.
-- The creation of Pitney Bowes Information Based Solutions group to grow
its customer base in financial services and the small business mailing
area, and to add to product and service offerings while expanding its
distribution capabilities.
With safety a growing concern -- particularly since October, Pitney Bowes has
also been in the forefront of mail security and innovation, with people,
products and solutions to assist its customers in managing their business mail
in a time of uncertainty.
Since 1993, SmartMoney -- The Wall Street Journal magazine of personal business -- has highlighted the stocks, bonds and funds it thinks will do well over the following 12 months.
SmartMoney personal finance magazine is a joint venture between Dow Jones & Company, Inc. (NYSE: DJ) and Hearst Communications, Inc.
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 on the company, its products and solutions visit http://www.pitneybowes.com.
Media contact: Marianne Fulgenzi 203-351-6974
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SOURCE Pitney Bowes
CONTACT: Marianne Fulgenzi of Pitney Bowes, +1-203-351-6974 URL: http://www.pitneybowes.com http://www.prnewswire.com
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