<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>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                          92,787
<SECURITIES>                                       996
<RECEIVABLES>                                1,755,600<F1>
<ALLOWANCES>                                    52,035<F1>
<INVENTORY>                                    289,310
<CURRENT-ASSETS>                             2,190,927
<PP&E>                                       2,724,583<F2>
<DEPRECIATION>                               1,440,700<F2>
<TOTAL-ASSETS>                               7,888,458
<CURRENT-LIABILITIES>                        3,694,080
<BONDS>                                        801,455
<COMMON>                                       323,338
<PREFERRED-MANDATORY>                          200,000
<PREFERRED>                                      2,504
<OTHER-SE>                                   1,812,670
<TOTAL-LIABILITY-AND-EQUITY>                 7,888,458
<SALES>                                        794,653
<TOTAL-REVENUES>                             1,849,202
<CGS>                                          496,803
<TOTAL-COSTS>                                  737,130
<OTHER-EXPENSES>                                39,347
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              98,883
<INCOME-PRETAX>                                345,635
<INCOME-TAX>                                   120,593
<INCOME-CONTINUING>                            225,042
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   225,042
<EPS-PRIMARY>                                      .75
<EPS-DILUTED>                                      .74
<FN>
<F1>Receivables are comprised of trade receivables of $370,630 and short-term
finance receivables of $1,384,970. Allowances are comprised of allowance for
trade receivables of $13,880 and for short-term finance receivables of $38,155.
<F2>Property, plant and equipment are comprised of fixed assets of $1,086,105
and rental equipment and related inventories of $1,638,478. Depreciation is
comprised of depreciation on fixed assets of $591,887 and on rental equipment
and related inventories of $848,813.
</FN>