SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Green Steven J

(Last)

(First)

(Middle)

ONE ELMCROFT ROADONE ELMCROFT ROAD

(Street)

STAMFORD

06926

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/15/2005

3. Issuer Name and Ticker or Trading Symbol
PITNEY BOWES INC /DE/ [ PBI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP-Fin and CAO

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	12,589.8541	D
Common Stock	3,192.2418	I	By 401(k) Plan⁽¹⁾
Common Stock	1,073.288	I	Owned by Spouse

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option	02/12/1999	02/11/2006	Common Stock	5,123	$24.0008	D
Stock Option	02/10/1998	02/09/2007	Common Stock	12,297	$28.6058	D
Stock Option	02/01/2002	10/19/2010	Common Stock	24,593	$26.9932	D
Stock Option	02/11/2003	02/10/2012	Common Stock	1,000	$40.68	D
Stock Option	02/10/2004	02/09/2013	Common Stock	12,000	$32.1	D
Stock Option	02/09/2005	02/08/2014	Common Stock	17,000	$40.08	D
Stock Option	02/09/1999	02/08/2008	Common Stock	12,296	$44.2201	D
Stock Option	02/09/2001	02/08/2006	Common Stock	566	$44.2201	D
Stock Option	02/08/2000	02/07/2009	Common Stock	12,296	$64.1346	D
Stock Option	02/08/2002	02/07/2009	Common Stock	625	$64.1346	D
Stock Option	02/14/2001	02/13/2010	Common Stock	12,296	$46.3841	D

Explanation of Responses:

1. Shares are held indirectly through the Pitney Bowes Inc. 401(k) Plan and its related excess plan.

Remarks:

	Signed by Patricia Johnson under Power of Attorney for Steve	02/15/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.