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

Jul 14, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2009-07-11

Reporting Person: De Palma Vincent (EVP & President, PBMS)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-07-11	Common Stock	F	1014	$20.775	Disposed	3972	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1047.8383	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock	$		Common Stock (502.5706)	502.5706	Direct
Restricted Stock Units	$0		Common Stock (5051)	5051	Direct
Stock Option	$43.17	2015-07-10	Common Stock (25000)	25000	Direct
Stock Option	$42.62	2016-02-12	Common Stock (28050)	28050	Direct
Stock Option	$48.03	2017-02-11	Common Stock (28777)	28777	Direct
Stock Option	$36.96	2018-02-10	Common Stock (61538)	61538	Direct
Stock Option	$24.75	2019-02-08	Common Stock (41118)	41118	Direct

Footnotes

F1: Solely for the purchase of increasing phantom stock as the result of reinvested dividends.

F2: These securities generally do not carry conversion price, exercisable date or expiration date.