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Pitney Bowes to Acquire Advertising Audit Service Inc. and PMH Caramanning

Thursday, June 01, 2006

Press release from the issuing company

STAMFORD, Conn., May 31 -- Pitney Bowes Inc. today announced that it has signed a definitive agreement to acquire substantially all of the assets of Advertising Audit Service (AAS) and PMH Caramanning. AAS offers a variety of web-based tools for the customization of promotional mail and marketing collateral. PMH Caramanning designs and manages customer and channel performance solutions. These operations will become a wholly-owned subsidiary of the company, and operate as part of its Mail Services business led by Michael Monahan, Executive Vice President and President, Global Mailing Solutions and Services. Subject to the completion of customary conditions this transaction is expected to close during the second quarter of 2006. This acquisition is another step in the company's growth strategies, according to Michael J. Critelli, Chairman and CEO of Pitney Bowes. "Last year we established a direct marketing platform with the acquisition of Imagitas. This transaction enlarges our presence in the growing marketing services arena and expands our range of offerings for creating and managing promotional mailstream programs." AAS offerings include web-based tools for digital asset management, ad customization, media fulfillment, and co-op advertising management. PMH Caramanning offers turnkey loyalty, incentive and certification solutions, including program strategy, web-based administration as well as collateral and reward fulfillment. Headquartered in Farmington Hills, Michigan, the combined operations generated approximately $27 million in revenue in 2005.




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