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

Mar 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2007-02-26

Reporting Person: TORSONE JOHNNA G (Sr. VP & Chief HR Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-26	Common Stock	G	50	—	Disposed	35431	Direct
2007-02-27	Common Stock	G	22	—	Disposed	35409	Direct
2007-02-27	Common Stock	G	105	—	Disposed	35304	Direct
2007-02-27	Common Stock	G	215	—	Disposed	35089	Direct
2007-02-27	Common Stock	G	215	—	Disposed	34874	Direct
2007-02-28	Common Stock	G	38	—	Disposed	34836	Direct
2007-03-01	Common Stock	G	55	—	Disposed	34781	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	575.4294	Indirect