STAMFORD, Conn. June 6, 2001 - Pitney Bowes Inc. (NYSE:PBI) has named a team of eight inventors the "Pitney Bowes 2000 Inventors of the Year" at a reception at its headquarters in Stamford on May 31. The winning team includes: Robert A. Cordery, Brad L. Davies, Louis J. Loglisci, Joel L. Wald,; Maria P. Parkos, Mark A. Scribe, Frederick W. "Rick" Ryan, Jr., and John H. Steinmetz. The winning patent, U.S. Patent No. 6,064,989 issued May 16, 2000 by the U.S. Patent and Trademark Office, covers "Synchronization of Cryptographic Keys Between Two Modules of a Distributed System." A major benefit of this invention is that it facilitates the production of generic meters while enabling postage meters with different mailing machine bases to be interchangeable without risk of a security breach. "This year's winners exemplify the true spirit of teamwork, and collectively, they are responsible for over 106 Pitney Bowes patents," said Michael J. Critelli, chairman and CEO, Pitney Bowes. "Innovation has always been at the core of Pitney Bowes' business success, and is particularly important in an increasingly competitive marketplace. Our intellectual property is a key corporate asset, enabling us to develop best-in-class solutions that help our customers manage the messages, money and business information around their own mission-critical processes." Pitney Bowes has a tradition of innovation and its intellectual property portfolio includes more than 3,300 patents worldwide in areas such as ticketing, cellular telephones, shipping, laser printing, encryption and mailing. The Intellectual Property Owners (IPO) Association has ranked Pitney Bowes among the top 200 patent holders in the United States for more than 14 consecutive years in recognition of the strength of its portfolio. It is strategically leveraging its technological assets through direct development and delivery of innovative solutions; acquisitions, strategic alliances and joint ventures; and by licensing proprietary technology to others. In a letter to the winning team, Connecticut Governor John G. Rowland offered his congratulations and stated: "This is a tremendous distinction that I am certain you will carry with pride and honor. Your commitment and drive is inspiration to all of Connecticut's residents and a testament to your strength and determination." In addition, the company also recognized Frederick W. Ryan, Jr. as the inventor granted the most patents in 2000 with 14, covering a range of technologies including security for electronic commerce, cryptographic systems, disaster recovery systems and various open and closed metering systems. His work in 2000 brings his total of Pitney Bowes patents to more than 30, a significant personal achievement for any inventor. "The tremendous contributions Rick has made to Pitney Bowes are exemplified by the honors bestowed upon him this evening," said Joseph E. Wall, Pitney Bowes vice president and chief technology officer. "We are extremely proud of Rick and his fellow inventors for helping build our reputation as a leading technology innovator. The contributions that they make enable us to continue to compete and win in the global marketplace." Information on the winning team members follows: Robert Cordery, a past Pitney Bowes "Inventor of the Year" recipient, is a Senior Fellow in the company's Research & Development group in the area of cryptography, and was one of the originators of the cryptographic protocols for signed postal indicia, the enabler for PC-based postage meters. Mr. Cordery holds 51 patents spanning a wide rage of physical devices and cryptographic inventions. A resident of Danbury, Connecticut, he has a Ph.D. in Statistical Physics. Brad Davies joined Pitney Bowes in 1995 as a Senior Software Engineer and was promoted to his current position of Principal Engineer in 1997. He brings extensive experience in development and project management of avionic software systems to the company. Mr. Davies holds a B.S. in Computer Science and an M.S. in Management Engineering. He resides in Trumbull, Connecticut. Louis J. Loglisci began his career at Pitney Bowes in 1982. He has developed a variety of software systems for worldwide product support. A resident of Stamford, Connecticut, Mr. Loglisci holds a Bachelors degree in Electrical Engineering. Maria Parkos has been with Pitney Bowes since 1985 and is a Principal Engineer in the Systems Engineering department. She is a pioneer in the field of circuit analysis and design, and holds more than seven patents. A resident of Southbury, Connecticut, Ms. Parkos holds MBA, MSEE and BSEE degrees. Frederick W. "Rick" Ryan is a Principal Engineer with the company's Research & Development group in the area of cryptography. He was one of the developers of the PC-based postage meter concept model at Pitney Bowes in the early '90s. A 13-year veteran of the company, Mr. Ryan resides in Oxford, Connecticut. He received his B.S.E.E. degree from MIT. Mark Scribe is a 19-year veteran of the company and resides in Southbury, Connecticut. Currently, he manages the New Product Design team for the company's Global Mailing division. He holds a BS degree in Electrical Engineering. John Steinmetz has been with the company 31 years and has 10 patents. He is a Principal Engineer in the Systems Engineering department, and holds a MSEE/BSEE degree. He resides in Bridgeport, Connecticut. Joel Wald has been with Pitney Bowes for 19 years. He has worked in both active products and new product development supporting Product Supply. Currently, Mr. Wald is Manager of Software & Systems for the Product Supply group. A resident of Stamford, Connecticut, he has a Bachelors degree in Applied Science & Technology as well as a Bachelors degree in Psychology.