Pitney Bowes Acquiring Print Inc.

STAMFORD, CT—Pitney Bowes has signed a definitive agreement to acquire 100 percent of the stock of Print Inc. for approximately $47 million, net of cash and debt. Print Inc. provides bundled offerings of printer supplies, service and equipment to manage document production.

The Print Inc. operations will be integrated into a wholly owned subsidiary of the company, and operate as part of its Pitney Bowes Direct Group.

The transaction is expected to be completed during the third quarter of 2006.