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

Mar 19, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2007-03-16

Reporting Person: MAYES MICHELE COLEMAN (Sr VP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-16	Common Stock	M	2000	$32.1	Acquired	3500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-16	Stock Option	$32.1	M	2000	Disposed	2013-02-09	Common Stock (2000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	195.1886	Indirect