-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 t8GWp5atZwdEYUrXRw7l3g==

<SEC-DOCUMENT>0001204528-03-000008.txt : 20030930
<SEC-HEADER>0001204528-03-000008.hdr.sgml : 20030930
<ACCEPTANCE-DATETIME>20030930191129
ACCESSION NUMBER:		0001204528-03-000008
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030930
FILED AS OF DATE:		20030930

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PITNEY BOWES INC /DE/
		CENTRAL INDEX KEY:			0000078814
		STANDARD INDUSTRIAL CLASSIFICATION:	OFFICE MACHINES, NEC [3579]
		IRS NUMBER:				060495050
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		WORLD HEADQUARTERS 61-11
		STREET 2:		ONE ELMCROFT ROAD
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06926
		BUSINESS PHONE:		2033565000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HENKEL HERBERT L
		CENTRAL INDEX KEY:			0001204528

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03579
		FILM NUMBER:		03918764

	BUSINESS ADDRESS:	
		STREET 1:		C/O PITNEY BOWES
		STREET 2:		1 ELMCROFT ROAD
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06926-0700
		BUSINESS PHONE:		2033517116
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-09-30</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000078814</issuerCik>
        <issuerName>PITNEY BOWES INC /DE/</issuerName>
        <issuerTradingSymbol>PBI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001204528</rptOwnerCik>
            <rptOwnerName>HENKEL HERBERT L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1></rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity></rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>
  <nonDerivativeTable>
    <nonDerivativeHolding>
      <securityTitle>
          <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>8564.5900</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
  </nonDerivativeTable>
  <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
          <value>Stock Options</value>
      </securityTitle>
      <conversionOrExercisePrice>
          <value>38.4450</value>
      </conversionOrExercisePrice>
      <transactionDate>
          <value>2003-09-30</value>
      </transactionDate>
      <transactionCoding>
          <transactionFormType>4</transactionFormType>
          <transactionCode>A</transactionCode>
          <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
          <transactionShares>
              <value>893.0000</value>
          </transactionShares>
          <transactionPricePerShare>
              <value>38.445</value>
          </transactionPricePerShare>
          <transactionAcquiredDisposedCode>
              <value>A</value>
          </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
          <value>2006-09-30</value>
              <footnoteId id="F1" />
      </exerciseDate>
      <expirationDate>
          <value>2013-09-29</value>
      </expirationDate>
      <underlyingSecurity>
          <underlyingSecurityTitle>
              <value>Common Stock</value>
          </underlyingSecurityTitle>
          <underlyingSecurityShares>
              <value>893.0000</value>
          </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
          <sharesOwnedFollowingTransaction>
              <value>893.0000</value>
          </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
          <directOrIndirectOwnership>
              <value>D</value>
          </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
  </derivativeTable>
<footnotes>
   <footnote id="F1">Reporting person was awarded these options under the Pitney Bowes Inc. 1991 Stock Plan in a transaction exempt under Rule 16b-3.  The Stock Option Grant provides that the options become 100% exercisable on the third anniversary of the grant.</footnote>
</footnotes>
    <ownerSignature>
       <signatureName>Signed by Patricia M. Johnson under Power of Attorney for Mr</signatureName>
       <signatureDate>2003-09-30</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----