PITNEY BOWES INC /DE/ — Director's Dealing 2007

Jun 12, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2007-06-11

Reporting Person: ROTH MICHAEL ISOR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-11	Common Stock	M	431	$34.9796	Acquired	24491.2424	Direct
2007-06-11	Common Stock	M	395	$38.0891	Acquired	24886.2424	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-11	Stock Option	$34.9796	M	431	Disposed	2007-06-29	Common Stock (431)	Direct
2007-06-11	Stock Option	$38.0891	M	395	Disposed	2007-06-29	Common Stock (395)	Direct