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Pitney Bowes Enters Subsequent Tender Offering Period for Alysis Technologies

Friday, April 27, 2001

Press release from the issuing company

STAMFORD, Conn. - APRIL 26, 2001 - Pitney Bowes Inc. (NYSE: PBI) announced today that it will provide a subsequent offering period of five business days in its $1.39 per share cash tender offer for all the outstanding shares of common stock and class B common stock of Alysis Technologies, Inc. (OTCBB: ALYS). The subsequent offering period begins Thursday, April 26, 2001 at 9:00 a.m. New York City time, and expires at 5:00 p.m. New York City time, on Wednesday, May 2, 2001. During such period, Pitney Bowes offers to pay $1.39 in cash per share of Alysis common stock and class B common stock validly tendered. The offer initially expired at 12:00 midnight, New York City time, on April 25, 2001. To date, 10,083,418 shares of Alysis common stock have been tendered (including approximately 65,724 shares that are guaranteed to be delivered), representing about 89.94% of the outstanding shares of Alysis common stock, and 2,417,112 shares of Alysis class B common stock have been tendered, representing about 100% of the outstanding shares of Alysis class B common stock. Pitney Bowes, through its wholly owned subsidiary Maui Acquisition Corp., has accepted for payment all validly tendered shares and expects to make payment for the accepted shares to Wilmington Trust Company, the depositary on April 26, 2001, or promptly thereafter. The subsequent offering period is intended to allow Pitney Bowes time to confirm its acquisition of at least 90 percent of the outstanding shares of Alysis common stock. During such period, Pitney Bowes, through Maui Acquisition Corp., expects to immediately accept and promptly pay for all the shares of Alysis common stock tendered as they are tendered. No withdrawal rights will be available to holders of such shares during the subsequent offering period. Following the expiration of the subsequent offering period and as soon as practicable thereafter, Pitney Bowes intends to cause Maui Acquisition Corp. to merge with Alysis. Alysis will then become a wholly owned subsidiary of Pitney Bowes.




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