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PITNEY BOWES INC /DE/ Director's Dealing 2004

Jun 18, 2004

31710_dirs_2004-06-18_745b0ec5-c56b-4aa1-8943-0a723ed2dc1d.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2004-06-17

Reporting Person: NOLOP BRUCE P (EVP and CFO)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2004-06-17 Common Stock M 14750.0000 $26.9932 Acquired 66550.0000 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2004-06-17 Stock Option $26.9932 M 14750.0000 Disposed 2010-10-19 Common Stock (14750.0000) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 264.8601 Indirect

Footnotes

F1: Shares are held indirectly through the Pitney Bowes Inc. 401(k) Plan and its related excess plan.