<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>
<MULTIPLIER> 1,000
       
                                                                 
<PERIOD-TYPE>                                                       3-MOS
<FISCAL-YEAR-END>                                                   DEC-31-1998
<PERIOD-END>                                                        MAR-31-1998
<CASH>                                                                  117,200
<SECURITIES>                                                             34,597
<RECEIVABLES>           <F1>                                          2,153,072
<ALLOWANCES>            <F1>                                             79,481
<INVENTORY>                                                             241,553
<CURRENT-ASSETS>                                                      2,676,559
<PP&E>                  <F2>                                          2,779,924
<DEPRECIATION>          <F2>                                          1,485,358
<TOTAL-ASSETS>                                                        8,313,598
<CURRENT-LIABILITIES>                                                 3,203,101
<BONDS>                                                               1,626,870
<COMMON>                                                                323,338
<PREFERRED-MANDATORY>                                                   300,000
<PREFERRED>                                                               2,193
<OTHER-SE>                                                            1,551,683
<TOTAL-LIABILITY-AND-EQUITY>                                          8,313,598
<SALES>                                                                 450,425
<TOTAL-REVENUES>                                                      1,011,574
<CGS>                                                                   275,000
<TOTAL-COSTS>                                                           413,379
<OTHER-EXPENSES>                                                         23,631
<LOSS-PROVISION>                                                              0
<INTEREST-EXPENSE>                                                       47,899
<INCOME-PRETAX>                                                         197,997
<INCOME-TAX>                                                             68,310
<INCOME-CONTINUING>                                                     129,687
<DISCONTINUED>                                                                0
<EXTRAORDINARY>                                                               0
<CHANGES>                                                                     0
<NET-INCOME>                                                            129,687
<EPS-PRIMARY>                                                               .46
<EPS-DILUTED>                                                               .46
<FN>
<F1>  Receivables are comprised of trade  receivables of $369,225 and short-term
finance  receivables  of  $1,783,847.  Allowances are comprised of allowance for
trade receivables of $21,962 and for short-term finance receivables of $57,519.
<F2>  Property,  plant and equipment are comprised of fixed assets of $1,132,145
and rental  equipment and related  inventories  of $1,647,779.  Depreciation  is
comprised of  depreciation  on fixed assets of $636,956 and on rental  equipment
and related inventories of $848,402.
</FN>