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Issuer: Pitney Bowes Inc.(ticker: PBI)

Expected Ratings: Baa2 / BBB (Stable /Stable)

Security: Senior Notes

Size: $150mm (6mm $25 par securities)

Price Guidance: 6.75% area

Maturity: March __, 2043

Interest Payment: Quarterly on March, June,

September, and December beginning 6/__/13.

Fixed for life Optional Redemption: March XX, 2018 at par; prior to that, there will be a make whole call

Denominations: $25 Par

Use of Proceeds: To purchase a portion of the company’s outstanding debt securities including the 4.875% notes due 2014, the 5% notes due 2015, and the 4.75% notes due 2016 and to pay related costs and expenses. Any remainder of net proceeds will be used for GCP. (See Red) QDI/DRD: NO Change of Control: 101% (See Red)

Expected Listing: NYSE

Settlement: T+7


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