RESTATED FINANCIAL DATA SCHEDULE
Published on
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS FINANCIAL INFORMATION EXTRACTED FROM PITNEY BOWES INC.
CONSOLIDATED BALANCE SHEET, CONSOLIDATED STATEMENT OF INCOME, CORRESPONDING
FOOTNOTE #3 FIXED ASSETS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> MAR-31-1996
<CASH> 88,511
<SECURITIES> 2,160
<RECEIVABLES> 1,674,284<F1>
<ALLOWANCES> 50,813<F1>
<INVENTORY> 303,843
<CURRENT-ASSETS> 2,155,646
<PP&E> 2,699,516<F2>
<DEPRECIATION> 1,419,405<F2>
<TOTAL-ASSETS> 7,860,043
<CURRENT-LIABILITIES> 3,684,848
<BONDS> 849,172
<PREFERRED-MANDATORY> 200,000
<PREFERRED> 2,549
<COMMON> 323,338
<OTHER-SE> 1,782,694
<TOTAL-LIABILITY-AND-EQUITY> 7,860,043
<SALES> 384,004
<TOTAL-REVENUES> 906,265
<CGS> 238,764
<TOTAL-COSTS> 364,516
<OTHER-EXPENSES> 18,710
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 49,912
<INCOME-PRETAX> 163,439
<INCOME-TAX> 56,930
<INCOME-CONTINUING> 106,509
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 106,509
<EPS-PRIMARY> .35
<EPS-DILUTED> .35
<FN>
<F1>Receivables are comprised of trade receivables of $393,304 and short-term
finance receivables of $1,280,980. Allowances are comprised of allowance for
trade receivables of $12,654 and for short-term finance receivables of $38,159.
<F2>Property, plant and equipment are comprised of fixed assets of $1,083,437
and rental equipment and related inventories of $1,616,079. Depreciation is
comprised of depreciation on fixed assets of $586,972 and on rental equipment
and related inventories of $832,433.
</FN>
</TABLE>