STAMFORD, Conn., February 10, 2002 --- Pitney Bowes Inc has announced its plan to offer up to €250MM of Notes next week, subject to market conditions, as part of a plan to partially hedge its expanding European operations. The notes will pay interest semi-annually and have a medium-term maturity. The Company has applied to list the notes on the Luxembourg Exchange. The securities will be issued pursuant to Pitney Bowes' existing shelf registration statement declared effective by the Securities and Exchange Commission on November 21, 2001. Net proceeds of the offering will be used for general corporate purposes, which will include repaying commercial paper, financing acquisitions and repurchasing PBI stock. The underwriting group will consist of Goldman Sachs International as sole bookrunner, Deutsche Bank, ABN Amro and JP Morgan.