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PITNEY BOWES INC /DE/ Director's Dealing 2004

May 11, 2004

31710_dirs_2004-05-11_b4e2b0c4-8b03-41f6-92d3-a2d28e129b5a.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: 2004-05-11

Reporting Person: HENKEL HERBERT L (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2004-05-10 Common Stock A 1400.0000 $43.53 Acquired 10078.7190 Direct

Footnotes

F1: Award of Restricted Stock under the Pitney Bowes Inc. Directors' Stock Plan in a transaction exempt under Rule 16b-3.