Exhibit (ii) Page 1 of 2 ------------ Subsidiaries of the Registrant ------------------------------ The Registrant, Pitney Bowes Credit Corporation, a Delaware corporation, is a subsidiary of Pitney Bowes Inc. The following are subsidiaries of the Registrant as of December 31, 1995: Country or State Company Name of Incorporation - ------------------------------------------------------------------------- ---------------- Atlantic Mortgage & Investment Corporation (AMIC) Florida RE Properties Management Corporation (Subsidiary of AMIC) Delaware Colonial Pacific Leasing Corporation (CPLC) Massachusetts Financial Structures Limited Bermuda FSL Valuation Services Inc. Connecticut PB CFSC I Inc. US Virgin Islands PB Funding Corporation Delaware PB Global Holdings Inc. Connecticut PBA Foreign Sales Corporation (Subsidiary of PB Global Holdings Inc.) Barbados PB Global Holdings II Inc. Connecticut Tower FSC Ltd. (Subsidiary of PB Global Holdings II Inc.) Bermuda PB Global Holdings III Inc. Connecticut PB Nikko FSC Ltd. (Subsidiary of PB Global Holdings III Inc.) Bermuda PB Global Holdings IV Inc. Connecticut PB Nihon FSC Ltd. (Subsidiary of PB Global Holdings IV Inc.) Bermuda PB Leasing Services Inc. Nevada PBL Holdings Inc. Nevada Pitney Bowes Insurance Agency, Inc. Connecticut Pitney Bowes Real Estate Financing Corporation (PREFCO) Delaware PREFCO I Inc. (Subsidiary of PREFCO) Delaware PREFCO I LP Inc. (Subsidiary of PREFCO) Delaware PREFCO II Inc. (Subsidiary of PREFCO) Delaware PREFCO II LP Inc. (Subsidiary of PREFCO) Delaware PREFCO III Inc. (Subsidiary of PREFCO) Delaware PREFCO III LP Inc. (Subsidiary of PREFCO) Delaware PREFCO IV Inc. (Subsidiary of PREFCO) Delaware PREFCO IV LP Inc. (Subsidiary of PREFCO) Delaware PREFCO V Inc. (Subsidiary of PREFCO) Delaware PREFCO V LP Inc. (Subsidiary of PREFCO) Delaware PREFCO VI Inc. (Subsidiary of PREFCO) Delaware PREFCO VI LP Inc. (Subsidiary of PREFCO) Delaware PREFCO VII Inc. (Subsidiary of PREFCO) Delaware PREFCO VII LP Inc. (Subsidiary of PREFCO) Delaware PREFCO VIII Inc. (Subsidiary of PREFCO) Delaware -67- Exhibit (ii) Page 2 of 2 ------------ Country or State Company Name of Incorporation - ------------------------------------------------------------------------------ ---------------- PREFCO VIII LP Inc. (Subsidiary of PREFCO) Delaware PREFCO IX Inc. (Subsidiary of PREFCO) Delaware PREFCO IX LP Inc. (Subsidiary of PREFCO) Delaware PREFCO X Inc. (Subsidiary of PREFCO) Delaware PREFCO X LP Inc. (Subsidiary of PREFCO) Delaware PREFCO XI Inc. (Subsidiary of PREFCO) Delaware PREFCO XI LP Inc. (Subsidiary of PREFCO) Delaware PREFCO XII Inc. (Subsidiary of PREFCO) Delaware PREFCO XII LP Inc. (Subsidiary of PREFCO) Delaware PREFCO XIII Inc. (Subsidiary of PREFCO) Delaware PREFCO XIII LP Inc. (Subsidiary of PREFCO) Delaware PREFCO XIV Inc. (Subsidiary of PREFCO) Delaware PREFCO XIV LP Inc. (Subsidiary of PREFCO) Delaware PREFCO XV Inc. (Subsidiary of PREFCO) Delaware PREFCO XV LP Inc. (Subsidiary of PREFCO) Delaware PREFCO XVI Inc. (Subsidiary of PREFCO) Delaware PREFCO - Dayton Community Urban Redevelopment Corporation (Subsidiary of PREFCO XVI Inc.) Ohio PREFCO XVI LP Inc. (Subsidiary of PREFCO) Delaware PREFCO XVII Inc. (Subsidiary of PREFCO) Delaware PREFCO XVII LP Inc. (Subsidiary of PREFCO) Delaware PREFCO XVIII Inc. (Subsidiary of PREFCO) Delaware PREFCO XVIII LP Inc. (Subsidiary of PREFCO) Delaware -68-