PURSUANT TO RULE NO. 424(b)(2)
                                                              FILE NO. 333-59181
                                   (CORRECTED)
                            PRICING SUPPLEMENT NO. 1
                                     To the
                         Prospectus dated July 28, 1998
               And the Prospectus Supplement dated August 30, 1999
                            -------------------------

                                  $125,000,000

                         PITNEY BOWES CREDIT CORPORATION

                           MEDIUM-TERM NOTES, SERIES D


Form of Note:                              Issue Date (Settlement Date):
         Global Security                      September 29, 1999

Type of Note:                              Net Proceeds to the Issuer
         Fixed Rate Note                      (%): 99.9665%

Principal Amount:                          Price to Public (%): 100.0000%
         $125,000,000
                                           Interest Rate:   5.95%
Specified Currency:
         U.S. dollars                      Interest Payment Date (s):
                                             March 29, 2000
                                             Principal plus Interest at Maturity
Stated Maturity:
         September 29, 2000

Redemption:
     The Notes to which this Pricing  Supplement  relates are not  redeemable at
the option of the  Company  or  repayable  at the option of any holder  prior to
September 29, 2000.


Defeasance And Covenant Defeasance:
     The Company may effect  defeasance or covenant  defeasance  with respect to
the Notes only upon  delivery  of an opinion  of  counsel  as  described  in the
Prospectus.


Terms used and not defined herein but defined in the  Prospectus  Supplement and
Prospectus are used herein as therein defined.

                           --------------------------

                              Salomon Smith Barney

           The date of this Pricing Supplement is September 24, 1999.