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PITNEY BOWES INC /DE/ Director's Dealing 2007

May 31, 2007

31710_dirs_2007-05-31_6bd02f1c-7c9c-472a-a1f3-56434543c000.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: 2007-05-30

Reporting Person: NOLOP BRUCE P (EVP and CFO)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2007-05-30 Common Stock M 2495 $40.08 Acquired 78147 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2007-05-30 Stock Option $40.08 M 2495 Disposed 2014-02-08 Common Stock (2495) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 69.1844 Indirect