STOCKHOLDER INFORMATION WORLD HEADQUARTERS DIVIDEND REINVESTMENT PLAN  ANNUAL MEETING DIRECT DEPOSIT OF DIVIDENDS  DUPLICATE MAILINGS  10-K REPORT STOCK INFORMATION  STOCK EXCHANGES COMMENTS CONCERNING THE ANNUAL REPORT SHOULD BE SENT TO: INVESTOR INQUIRIES TRANSFER AGENT AND REGISTRAR STOCKHOLDER INQUIRIES  TRADEMARKS 31 AddressRight, Corporate Design, IntelliLink, Pitney Bowes,  and Postage by Phone are registered trademarks of Pitney Bowes Inc. APS, 9 Series, DM100, DM1000, dMail, DeliverAbility, Engineering the flow of communication, FastPac, Olympus, OnRoute,  SmartMailer, and Vitesse are trademarks of  Pitney Bowes Inc. All other trademarks, service  marks or registered trademarks are property  of the respective owners. Communications concerning transfer requirements, lost certificates, dividends, change of address or other stockholder inquiries may be made by calling (800) 648-8170, TDD phone service for the hearing impaired (781) 575-2692, for foreign holders (781) 575-2725, or by writing to the address above. EquiServe Trust Company, N.A.  PO Box 43010 Providence, RI 02940-3010 Stockholders may call EquiServe at (800) 648-8170 www.equiserve.com All investor inquiries about Pitney Bowes should be addressed to: MSC 6140 Investor Relations Pitney Bowes Inc. 1 Elmcroft Road, Stamford, CT 06926-0700 MSC 6309 Director, Marketing Communications Pitney Bowes Inc. 1 Elmcroft Road, Stamford, CT 06926-0700 Pitney Bowes common stock is traded under the symbol “PBI.”  The principal market which it is listed on is the New York Stock  Exchange. The stock is also traded on the Chicago, Philadelphia, Boston, Pacific and Cincinnati stock exchanges. Additional copies of our Form 10-K will be sent to stockholders free of charge upon written request to: MSC 6140 Investor Relations Pitney Bowes Inc. 1 Elmcroft Road, Stamford, CT 06926-0700 Accompanying this Annual Report to Stockholders is a copy of  our Annual Report on Form 10-K for the fiscal year ended December 31, 2004, as filed with the Securities and Exchange Commission. This Annual Report contains statements that are forward-looking. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the Forward-Looking Statements section of the Form 10-K. The CEO/CFO certifications required to be filed with the  SEC under Section 302 of the Sarbanes-Oxley Act of 2002 were filed as exhibits to our Annual Report on Form 10-K for the fiscal year ended December 31, 2004. The CEO certification required to be submitted  to the NYSE pursuant to Section 303A.12(a) of the NYSE Listed  Company Manual was submitted on June 1, 2004. Dividends per common share If you receive duplicate mailings because you have more than  one account listing, you may wish to save your company money  by consolidating your accounts. Please call (800) 648-8170 or  write to the agent at the address above. For information about direct deposit of dividends, please call  (800) 648-8170 or write to the agent at the address above. Owners of Pitney Bowes Inc. common stock may purchase common stock, $1 par value, with their dividends through the Dividend Reinvestment Plan. A prospectus and enrollment card may be obtained by calling (800) 648-8170 or by writing to the agent at the address above. Pitney Bowes Inc. 1 Elmcroft Road, Stamford, CT 06926-0700 (203) 356-5000 www.pb.com Stockholders are cordially invited to attend the 2005 Annual  Meeting at 9:00 a.m., Monday, May 9, 2005, at Pitney Bowes  World Headquarters in Stamford, Connecticut. Notice of the  meeting and proxy information will be mailed to stockholders  of record as of March 11, 2005. Please refer to the Proxy Statement for information concerning admission to the meeting. Quarterly price ranges of common stock 2003 QUARTER HIGH LOW FIRST $ 34.34 $ 29.45 SECOND $ 39.60 $ 31.60 THIRD $ 40.38 $ 36.23 FOURTH $ 42.75 $ 38.00 2004 QUARTER HIGH LOW FIRST $ 43.78 $ 38.88 SECOND $ 45.21 $ 42.20 THIRD $ 44.62 $ 40.62 FOURTH $ 46.97 $ 41.44 QUARTER 2004 2003 FIRST $ .305 $ .30  SECOND .305 .30 THIRD .305 .30 FOURTH .305 .30 TOTAL $1.220 $1.20