STAMFORD, Conn., June 24, 2002 - Pitney Bowes will provide fleet and asset support services to IBM in a new agreement worth up to $100 million over five years. Through the agreement, Pitney Bowes will oversee the planning, installation, training, and maintenance of the printer and multifunction device asset base throughout IBM's US operations. The company will also provide all of the training, call center support and key operator support for the devices. "We are excited about this agreement with IBM because it illustrates our strategy to continuously grow the value we create for our customers over time," noted Karen Garrison, president, Pitney Bowes Business Services. "IBM was one of the first customers for our on-site management center in the early nineties. Now we are expanding our responsibilities beyond analog copiers, to include all of IBM's networked printer and multifunction devices as well as the training, service, support and installation of the hardware. Thus, when you combine mail, print and document output asset management, it underscores the range of components necessary for effective integrated mail and document resource planning."