UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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): August 2, 1999
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
<PAGE>
Item 5 - Other Events.
The U.S. Postal Service and Pitney Bowes Inc. (NYSE:PBI) announced today
that they had reached agreement resolving a lawsuit filed by Pitney Bowes in
1997. The lawsuit arose out of a dispute over a 1978 Statement of Understanding
authorizing Pitney Bowes to offer Postage by PhoneR, its proprietary version of
the Computerized Meter Resetting System (CMRS).
CMRS, first offered by Pitney Bowes in 1979, enables customers to reset
their postage meters over telephone lines. In 1995, as a part of a review of its
cash management practices and postage meter policies, the Postal Service revised
its regulations for CMRS and terminated the 1978 Statement of Understanding. The
Court upheld the revised regulations but ordered a trial on the merits of Pitney
Bowes' claim for money damages.
Under the terms of the agreement, Pitney Bowes will receive $51.75 million.
This payment will represent a portion of the financial benefit that the Postal
Service obtained as a result of the revised regulations.
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 thereunto duly authorized.
PITNEY BOWES INC.
August 2, 1999
/s/ M. L. Reichenstein
----------------------------------
M. L. Reichenstein
Vice President and Chief Financial Officer
(Principal Financial Officer)
/s/ A. F. Henock
-----------------------------------
A. F. Henock
Vice President - Controller
and Chief Tax Counsel
(Principal Accounting Officer)
