SEC FORM 4

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

GREEN ERNIE

(Last)

(First)

(Middle)

WORLD HEADQUARTERS

ONE ELMCROFT ROAD

(Street)

STAMFORD

06926

(City)

(State)

(Zip)

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

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/14/2007

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/14/2007		M		1,053	A	$30.49	18,091.4465	D
Common Stock	02/14/2007		M		1,029	A	$32.4777	19,120.4465	D
Common Stock	02/14/2007		M		864	A	$31.86	19,984.4465	D
Common Stock	02/14/2007		M		855	A	$37.5962	20,839.4465	D
Common Stock	02/14/2007		M		843	A	$33.4975	21,682.4465	D
Common Stock	02/14/2007		M		841	A	$38.1208	22,523.4465	D
Common Stock	02/14/2007		M		835	A	$38.445	23,358.4465	D
Common Stock	02/14/2007		M		777	A	$32.585	24,135.4465	D
Common Stock	02/14/2007		M		764	A	$40.455	24,899.4465	D
Common Stock	02/14/2007		M		750	A	$38.27	25,649.4465	D
Common Stock	02/14/2007		M		719	A	$39.965	26,368.4465	D
Common Stock	02/14/2007		M		699	A	$37.935	27,067.4465	D
Common Stock	02/14/2007		M		683	A	$40.4068	27,750.4465	D
Common Stock	02/14/2007		M		650	A	$46.8428	28,400.4465	D
Common Stock	02/14/2007		M		641	A	$42.92	29,041.4465	D
Common Stock	02/14/2007		M		568	A	$38.0891	29,609.4465	D
Common Stock	02/14/2007		M		546	A	$43.7474	30,155.4465	D
Common Stock	02/14/2007		M		497	A	$47.9407	30,652.4465	D
Common Stock	02/14/2007		M		492	A	$43.9542	31,144.4465	D
Common Stock	02/14/2007		M		355	A	$40.6825	31,499.4465	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option	$30.49	02/14/2007		M			1,053	09/30/2005	09/29/2007	Common Stock	1,053	$30.49	0	D
Stock Option	$31.86	02/14/2007		M			864	03/31/2006	03/30/2007	Common Stock	864	$31.86	0	D
Stock Option	$32.4777	02/14/2007		M			1,029	12/31/2003	12/30/2007	Common Stock	1,029	$32.4777	0	D
Stock Option	$32.585	02/14/2007		M			777	12/31/2005	12/30/2007	Common Stock	777	$32.585	0	D
Stock Option	$33.4975	02/14/2007		M			843	03/31/2004	03/30/2007	Common Stock	843	$33.4975	0	D
Stock Option	$37.5962	02/14/2007		M			855	09/30/2004	09/29/2007	Common Stock	855	$37.5962	0	D
Stock Option	$37.935	02/14/2007		M			699	12/31/2004	12/30/2007	Common Stock	699	$37.935	0	D
Stock Option	$38.0891	02/14/2007		M			568	06/30/2003	06/29/2007	Common Stock	568	$38.0891	0	D
Stock Option	$38.1208	02/14/2007		M			841	09/30/2003	09/29/2007	Common Stock	841	$38.1208	0	D
Stock Option	$38.27	02/14/2007		M			750	06/30/2006	06/29/2007	Common Stock	750	$38.27	0	D
Stock Option	$38.445	02/14/2007		M			835	09/30/2006	09/29/2007	Common Stock	835	$38.445	0	D
Stock Option	$39.965	02/14/2007		M			719	06/30/2005	06/29/2007	Common Stock	719	$39.965	0	D
Stock Option	$40.4068	02/14/2007		M			683	06/30/2004	06/29/2007	Common Stock	683	$40.4068	0	D
Stock Option	$40.455	02/14/2007		M			764	12/31/2006	12/30/2007	Common Stock	764	$40.455	0	D
Stock Option	$40.6825	02/14/2007		M			355	09/30/2000	09/29/2007	Common Stock	355	$40.6825	0	D
Stock Option	$42.92	02/14/2007		M			641	03/31/2005	03/30/2007	Common Stock	641	$42.92	0	D
Stock Option	$43.7474	02/14/2007		M			546	12/31/2000	12/30/2007	Common Stock	546	$43.7474	0	D
Stock Option	$43.9542	02/14/2007		M			492	03/31/2003	03/30/2007	Common Stock	492	$43.9542	0	D
Stock Option	$46.8428	02/14/2007		M			650	12/31/2002	12/30/2007	Common Stock	650	$46.8428	0	D
Stock Option	$47.9407	02/14/2007		M			497	06/30/2001	06/29/2007	Common Stock	497	$47.9407	0	D

Explanation of Responses:

Remarks:

poaegreen.TXT

	Patricia M. Johnson-POA for E. Green	02/15/2007
	** 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 4 (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.