Merrill Lynch Again Taps Pitney Bowes for Mail, Print and Document Management Services

STAMFORD, Conn., May 15, 2008 - Pitney Bowes Management Services, Inc. (PBMS), a wholly owned subsidiary of Pitney Bowes Inc. (NYSE:PBI) announced today that it has been retained by Merrill Lynch & Co., Inc. to provide mail, print and document management services in several of its East Coast locations.

PBMS will continue to manage Merrill Lynchs reprographics services at the companys New York City-based headquarters, and mail services for all New York City locations, as well as locations in New Jersey and Jacksonville, Florida. In addition, PBMS will continue to provide imaging services at the Jacksonville location.

Merrill Lynch has also awarded additional new business to PBMS, including management of central reprographic services at several of its New York and New Jersey locations, and fleet management services for all locations. PBMS will utilize its Rochester, NY call center and provide on-site key operator support as well.

We are pleased and proud to not only continue as Merrill Lynchs preferred mail and print services provider, but to receive additional document management business from them as well, said Vincent De Palma, executive vice president and president, PBMS. PBMS is focused on meeting customer demands for improved efficiency, productivity and compliance.

Pitney Bowes Management Services provides on-site and off-site outsourced mail, print and document management solutions to the Fortune 1000, American Legal 200 and Federal Government agencies. Pitney Bowes Inc. is a mailstream technology company that helps organizations manage the flow of information, mail, documents and packages. Our 36,000 employees deliver technology, service and innovation to more than two million customers worldwide. The company was founded in 1920 and annual revenues now total $6.3 billion. More information is available at