<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>