Pitney Bowes Announces Reference Yield, Total Consideration And Tender Offer Consideration For Cash Tender Offers For Notes

Pitney Bowes Inc. (NYSE:PBI) (the “Company,” “us” or “Pitney Bowes”) today announced the Reference Yield, Total Consideration and Tender Offer Consideration (each as defined below) for its previously announced cash tender offers (the “Offers”) for its 4.875% Medium-Term Notes due 2014 (the “2014 Notes”), 5.000% Notes due 2015 (the “2015 Notes”) and 4.750% Medium-Term Notes due 2016 (the “2016 Notes” and, together with the 2014 Notes and the 2015 Notes, the “Notes”).

The Offers are being made pursuant to an Offer to Purchase, dated February 26, 2013 (the “Offer to Purchase”) and related Letter of Transmittal, dated February 26, 2013 (the “Letter of Transmittal”) which set forth a description of the terms and conditions of the Offers.

The consideration to be paid in each of the Offers has been determined in the manner described in the Offer to Purchase by reference to a fixed spread over the yield to maturity (the “Reference Yield”) of the applicable U.S. Treasury Security specified in the table below and on the cover page of the Offer to Purchase in the column entitled “Reference U.S. Treasury Security.” Holders who validly tender and do not validly withdraw Notes at or prior to the Early Tender Time (as defined below) that are accepted for purchase will receive the applicable “Total Consideration” listed in the table below, which includes an early tender payment of $30 per $1,000 principal amount of Notes accepted for purchase (the “Early Tender Premium”). Holders who validly tender after the Early Tender Time but at or prior to the Expiration Time (as defined below) that are accepted for purchase will receive the Total Consideration listed in the table below minus the Early Tender Premium (the “Tender Offer Consideration”). In addition, in each case holders will receive accrued and unpaid interest on their Notes up to, but excluding, the applicable settlement date.
            Reference         Fixed            
Outstanding Maximum U.S. Spread
Title of Security/ Principal Series Treasury Reference (Basis Tender Offer Early Tender Total
CUSIP No.     Amount     Tender Cap     Security     Yield     Points)     Consideration    

Premium (1)
4.875% Medium-Term

Notes due 2014

(CUSIP No. 72447WAU3)
$450,000,000 $200,000,000 0.250% due January 31, 2015 0.252% 40 $1,029.80 $30 $1,059.80

5.000% Notes due 2015CUSIP No. 724479AG5)
$400,000,000 $140,000,000 0.250% due January 31, 2015 0.252% 125 $1,038.95 $30 $1,068.95
4.750% Medium-Term

Notes due 2016

(CUSIP No. 72447XAA5)
$500,000,000 $75,000,000 0.375% due February 15, 2016 0.402% 200 $1,034.09 $30 $1,064.09

(1) Per $1,000 principal amount of Notes.

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