Pitney Bowes Incorporates CyberCash
Internet Payment Services Into Digital
Document Delivery (D3) System
"Statement Rendering & Remittance Processing Combined in One Integrated Platform"

Stamford, Conn., November 10, 1998 -- Pitney Bowes Inc. (NYSE: PBI) the world leader in mail and messaging management, and CyberCash, Inc., the leading provider of Internet payment solutions, today announced the introduction of a breakthrough end-to-end Internet bill presentment and payment solution.

Pitney Bowes will incorporate the CyberCash suite of Internet payment services into Pitney Bowes Digital Document Delivery (D3) platform. The D3 solution provides billers with a comprehensive platform for rendering, distributing, tracking and processing bills previously distributed on paper through electronic channels such as the Internet. D3 is part of pb.commander, a suite of hardware and software products, services and financing options to help high volume mailers design and implement document factories.

"The incorporation of CyberCash into the D3 solution will allow billers to render their electronic bills with payment capabilities, thereby streamlining the entire billing process," said John F. Kwant, Director of Business Development for Pitney Bowes. "Now both statement rendering and remittance processing can be managed in one integrated system for a truly end-to-end solution," Kwant said.

One of the unique benefits of the D3 solution is its sophisticated workflow tracking capabilities. This allows a biller or a billing service provider to closely monitor and optimize every step in the statement rendering process, whether the bill is delivered on paper or through electronic delivery channels. The D3 solution also creates tailored, "one-to-one" personalized documents to maximize their impact for cross and up-selling potential.

Using CyberCash PayNow Secure Electronic Check Service^TM or Credit Card service, a biller can embed an electronic payment key on an Internet presented bill. The CyberCash Internet payment functionality takes advantage of a biller's own enrollment efforts while controlling one of the most critical functions in the Internet bill presentment and payment process, namely remittance processing and collection. As a result, billers can use multiple Internet delivery channels, such as their own Web site, e-mail, third party bill concentrators and homebanking services to distribute its bills, with the assurance that the embedded payment capability will bring the payment directly back to the biller for processing.

"Historically, the printing and mailing of a statement were separate and distinct functions from remittance processing," according Richard Crone, Vice President & General Manager of CyberCash. "Now, with this partnership, these functions are joined together into one integrated solution for Internet bill presentment and payment."

About CyberCash
CyberCash is the world leader in secure, convenient payment technologies and services, enabling e-commerce across the entire market spectrum from electronic retailing environments to the Internet.

CyberCash provides a complete line of software products and services allowing merchants, billers, financial institutions and consumers to conduct secure transactions using the broadest array of popular payment forms. Credit, debit, purchase cards, cash, checks, smart cards and alternative payment types (e.g., "frequent buyer" or loyalty programs) are all supported by CyberCash payment solutions. Leading brands of CyberCash include ICVERIFY®, PCVERIFY™, CashRegister™, NetVERIFY™, CyberCoin® and PayNow™.