For Immediate Release

STAMFORD, Conn., May 30, 2002 -- Pitney Bowes Inc. (NYSE: PBI) has entered into a new international partnership with Italian owned Printel, the world’s third largest hybrid mail producer, to provide advanced integrated mail and document management solutions for Printel’s global customer base. Through the partnership, Printel will utilize Pitney Bowes as the sole technology provider for automated document factory (ADF) solutions and work together with Pitney Bowes to grow and expand the business worldwide. This becomes the single largest contract for Pitney Bowes Document Messaging Technologies, at more than $15 million, to equip Printel’s facilities and worldwide subsidiaries with inserting systems, installation and support services.

“Pitney Bowes offered Printel the perfect fit as both a partner and system provider because they offer superior technology with the ability to integrate with our current systems,” said Dr. Vittorio Farina, president and CEO, Printel. “Pitney Bowes has a reputation for providing mailing and inserting systems that deliver maximum productivity and high-integrity, which are two factors that are very important to our clients. Additionally, the new Pitney Bowes inserting systems will be instrumental in helping Printel achieve its goal of producing over 2 billion mail pieces per year by 2003.”

Pitney Bowes Document Messaging Technologies will supply Printel with Advanced Productivity System (APS™-18 Series), the FX10F Series Flats and Olympus™ II MT Mail Sorters.

Printel will also implement several Pitney Bowes software solutions to further enhance mail operations. This will include Document Messaging Technologies’ DFWorks™ software portfolio of integrated solutions for value-added management of the document factory and docSense’s StreamWeaver® 6.0, a print stream engineering tool that improves efficiency and productivity in the advanced hard-copy printing and digital distribution environments.

“Printel is a true dominant force in global mailing, producing 1.3 billion envelopes per year,” said Brian Baxendale, president, Pitney Bowes Document Messaging Technologies. “Leveraging a partnership with Printel, Pitney Bowes will further expand our worldwide presence as the mailing and inserting solution provider of choice backed by an internationally respected mail industry leader.

Pitney Bowes Inc. is a $4.1 billion global provider of integrated mail and document management solutions headquartered in Stamford, Conns. Pitney Bowes Document Messaging Technologies features leading-edge large-scale solutions for high volume mailers. The company's broad portfolio of products and services, software and financing adds value to messages by reducing end-to-end costs, increasing user convenience and ensuring delivery reliability and security. More Information about Pitney Bowes is available at www.pb.com.

Printel is a joint partnership between Poste Italiane and Ilte, Italy’s largest digital printing center. The objective of Printel is to become a model of efficiency and productivity by leveraging “Print On Demand” technology. This technology allows customers to create personalized printed documents without incurring the expense of traditional typographic processes. Currently all major Banks and Telecom Companies in Italy benefit from Printel services for billings and customer “one to one” marketing activities. This equates to approximately 1.3 billion envelopes per year.

Media Contact:
Christopher Tessier
Manager, Public Relations
203-351-7210
Christopher.Tessier@pb.com