United States
                       SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549-1004



                                    FORM 8-K
                                 CURRENT REPORT



     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934



         Date of Report (Date of earliest event reported): October 31, 2001



                                PITNEY BOWES INC.



                         Commission File Number: 1-3579






  State of Incorporation                         IRS Employer Identification No.
       Delaware                                          06-0495050






                               World Headquarters
                        Stamford, Connecticut 06926-0700
                        Telephone Number: (203) 356-5000



Item 5 - Other Events.

The  registrant's  press release dated October 31, 2001 regarding its completion
of the acquisition of Secap.

Item 7 - Financial Statements and Exhibits.

c. Exhibits.

The following exhibits are furnished in accordance  with the  provisions of Item
601 of Regulation S-K:

Exhibit                Description
-------    ---------------------------------------------------------

   (1)         Pitney Bowes Inc. press release dated October 31, 2001.





                                   Signatures
                                   ----------



Pursuant  to  the  requirements  of  the Securities  Exchange  Act of  1934, the
registrant  has duly caused  this report  to  be  signed on its  behalf  by  the
undersigned hereunto duly authorized.



                                PITNEY BOWES INC.

November 1, 2001

                                /s/ B.P. Nolop
                                -----------------------------------
                                B. P. Nolop
                                Executive Vice President and
                                Chief Financial Officer
                                (Principal Financial Officer)


                                /s/ A.F. Henock
                                -----------------------------------
                                A. F. Henock
                                Vice President - Finance
                                (Principal Accounting Officer)



                                                                       Exhibit 1
                                                                       ---------
For Immediate Release
---------------------


                   Pitney Bowes Completes Acquisition of Secap

         Expands Market Reach and Strengthen Company's Global Offerings

STAMFORD, Conn. and PARIS, October 31, 2001 -- Pitney Bowes Inc. (NYSE:PBI)
today announced it has completed the acquisition of Secap SA, the France-based
mailing systems subsidiary of Fimalac, for approximately Euros 220 million.
Secap offers a range of mail processing and paper handling equipment, supplies
and technology for low- to mid-volume mailers. Secap holds more than 30% of the
postage meter market share in France and has an approximately 60% recurring
rental revenue stream. For the year ended December 31, 2000, Secap reported
revenues of FF602 million excluding the ANFA operations, which were sold in
2000.
         "This strategic acquisition strengthens our geographic coverage,
expands our distribution capabilities and significantly increases our market
presence in Europe, particularly in France, the third largest mailing market in
the world," said Michael J. Critelli, Chairman and CEO of Pitney Bowes Inc.
"Secap's technology and growing line of digital mailing solutions will play a
key role in our global strategy to deliver a networked platform that links
mailers to postal and carrier information and systems."
         Fimalac, which posted net earnings of Euro 100 million in 2000, is a
French-based diversified services business which includes Fitch, the world's
third largest credit rating agency, Facom, a leading global provider of hand
tools, and LBC, the world's second largest bulk chemical storage provider. Secap
is a leading provider of mailing equipment, supplies and technology with a
strong market presence in France as well as operations in Sweden, the United
Kingdom and the United States.

                                    - more -



         Pitney Bowes is a $4 billion global provider of integrated mail and
document management solutions headquartered in Stamford, Connecticut. The
company serves more than 2 million businesses of all sizes through dealer and
direct operations. For additional information about Pitney Bowes, please visit
our website at www.pitneybowes.com.
               --------------------

                                       ###


The statements contained in this news release that are not purely historical are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These
statements may be identified by their use of forward-looking terminology such as
the words "expects," "projects," "anticipates," "intends" and other similar
words. Such forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those projected. These
risks and uncertainties include, but are not limited to: severe adverse changes
in the economic environment; changes in international or national political or
economic conditions; timely development and acceptance of new products or
gaining product approval; successful entry into new markets; changes in interest
rates; and changes in postal regulations, as more fully outlined in the
company's 2000 Form 10-K Annual Report filed with the Securities and Exchange
Commission. The forward-looking statements contained in this news release are
made as of the date hereof and we do not assume any obligation to update the
reasons why actual results could differ materially from those projected in the
forward-looking statements.