PITNEY BOWES INC /DE/ — Director's Dealing 2005

Dec 21, 2005

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2005-12-15

Reporting Person: Weiss Kevin (EVP & Pres, Mailstream)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3500	Direct
Common Stock	400.8611	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$44.2201	2008-02-08	Common Stock (8198)		Direct
Stock Option	$46.3841	2008-02-13	Common Stock (1295)		Direct
Stock Option	$64.1346	2009-02-07	Common Stock (7173)		Direct
Stock Option	$62.7011	2009-09-12	Common Stock (5124)		Direct
Stock Option	$46.3841	2010-02-13	Common Stock (7068)		Direct
Stock Option	$46.3841	2010-02-13	Common Stock (2154)		Direct
Stock Option	$36.4496	2010-09-10	Common Stock (1025)		Direct
Stock Option	$26.9932	2010-10-19	Common Stock (3121)		Direct
Stock Option	$26.9932	2010-10-19	Common Stock (7126)		Direct
Stock Option	$40.6800	2012-02-10	Common Stock (5000)		Direct
Stock Option	$32.1000	2013-02-09	Common Stock (10648)		Direct
Stock Option	$32.1000	2013-02-09	Common Stock (3352)		Direct
Stock Option	$40.0800	2014-02-08	Common Stock (17505)		Direct
Stock Option	$40.0800	2014-02-08	Common Stock (2495)		Direct
Stock Option	$46.9300	2015-02-13	Common Stock (20738)		Direct
Stock Option	$46.9300	2015-02-13	Common Stock (4262)		Direct

Footnotes

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