<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>
<RESTATED>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                         134,032
<SECURITIES>                                     1,327
<RECEIVABLES>                                1,764,485<F1>
<ALLOWANCES>                                    52,409<F1>
<INVENTORY>                                    275,374
<CURRENT-ASSETS>                             2,233,198
<PP&E>                                       2,749,364<F2>
<DEPRECIATION>                               1,446,378<F2>
<TOTAL-ASSETS>                               7,983,258
<CURRENT-LIABILITIES>                        3,233,697
<BONDS>                                      1,300,221
<PREFERRED>                                      2,461
<PREFERRED-MANDATORY>                          200,000  
<COMMON>                                       323,338
<OTHER-SE>                                   1,847,755
<TOTAL-LIABILITY-AND-EQUITY>                 7,983,258
<SALES>                                      1,198,847
<TOTAL-REVENUES>                             2,799,916
<CGS>                                          745,560
<TOTAL-COSTS>                                1,119,001
<OTHER-EXPENSES>                                58,487
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             151,095
<INCOME-PRETAX>                                522,085
<INCOME-TAX>                                   180,338
<INCOME-CONTINUING>                            341,747
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   341,747
<EPS-PRIMARY>                                     1.14
<EPS-DILUTED>                                     1.13
<FN>
<F1>Receivables are comprised of trade receivables of $366,720 and short-term
finance receivables of $1,397,765. Allowances are comprised of allowance for
trade receivables of $13,934 and for short-term finance receivables of $38,475.
<F2>Property, plant and equipment are comprised of fixed assets of $1,095,719
and rental equipment and related inventories of $1,653,645. Depreciation is
comprised of depreciation on fixed assets of $601,178 and on rental equipment
and related inventories of $845,200.
</FN>