PITNEY BOWES INC /DE/ — Director's Dealing 2009

Nov 12, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2009-11-09

Reporting Person: Dobson David C (EVP & President, PBMS)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-11-09	Restricted Stock Units	$0	A	6015	Acquired	2013-02-05	Common Stock (6015)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6231	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of Pitney Bowes common stock.

F2: The restricted stock units will vest in full on February 5, 2013, provided predetermined performance criteria are achieved in 2010.