EXHIBIT (iv) ------------ Page 1 of 4 PITNEY BOWES INC. SUBSIDIARIES OF THE REGISTRANT ------------------------------ The Registrant, Pitney Bowes Inc., a Delaware Corporation, has no parent. The following are subsidiaries of the Registrant (as of December 31, 1997) Country or state of Company name incorporation - ------------ ------------- ACN003606611 Australia Adrema Leasing Corporation Delaware Adrema Maschinen - und - Auto Leasing GmbH Germany Adrema Maschinenbau Inc. Delaware Adrema Mobilien Leasing GmbH Germany Andeen Enterprises, Inc. Panama Artec International Corporation California Atlantic Mortgage & Investment Corporation Florida B. Williams Holdings Corp. Delaware Canadian Office Services (Toronto) Limited Canada Cascade Microfilm Systems, Inc. California Chas. P. Young Health Fitness & Management, Inc. New York Colonial Pacific Leasing Corporation Massachusetts Datarite Systems Ltd. England ECL Finance Company, N.V. Netherlands Elmcroft Road Realty Corporation Connecticut Financial Structures Limited Bermuda Financial Structures Insurance Company New York FSL Holdings Inc. Connecticut FSL Risk Managers Inc. New York FSL Valuation Services Inc. Connecticut Harlow Aircraft Inc. Delaware Informatech California La Agricultora Ecuatoriana S.A. Ecuador Lease Continental GmbH Germany MXT Corporation (68% owned) Canada Norlin Australia Investments Pty. Ltd. Australia Norlin Industries Ltd. Canada Norlin Music (U.K.) Ltd. England Oy Adrema Helsinki Finland PB Canada Funding Ltd. Canada PB Forms, Inc. Nebraska PB Funding Corporation Delaware PB Global Holdings Inc. Connecticut PB Global Holdings II Inc. Connecticut PB Global Holdings III Inc. Connecticut PB Global Holdings IV Inc. Connecticut PB Leasing Corporation Delaware PB Leasing (March), (June), (September) Ltd. England PB Leasing International Corporation Delaware PB Leasing Services Inc. Nevada PB Public Finance Inc. Delaware PBA Foreign Sales Corporation Inc. Barbados PB World Trade Corporation (Disc) Delaware EXHIBIT (iv) ------------ Page 2 of 4 SUBSIDIARIES OF THE REGISTRANT (continued) - ------------------------------ Country or state of Company name incorporation - ------------ ------------- PB CFSC I Inc. Virgin Islands PBL Holdings Inc. Nevada PB Nikko FSC Ltd. Bermuda PB Nihon FSC Ltd. Bermuda Pitney Bowes A.G. Switzerland Pitney Bowes Australia Pty. Australia Pitney Bowes Australia FAS Pty. Limited Australia Pitney Bowes Australia Funding Pty. Ltd. Australia Pitney Bowes Austria Ges.m.b.H Austria Pitney Bowes Business to Business Inc. Delaware Pitney Bowes of Canada Ltd. Canada Pitney Bowes Canada Holdings Limited Canada Pitney Bowes China Inc. Delaware Pitney Bowes Credit Australia Limited Australia Pitney Bowes Credit Corporation Delaware Pitney Bowes Data Systems, Ltd. Delaware Pitney Bowes de Mexico, S.A. de C.V. Mexico Pitney Bowes Deutschland GmbH Germany Pitney Bowes Espana, S.A. Spain Pitney Bowes Finance S.A. France Pitney Bowes Finans Norge AS Norway Pitney Bowes Finance PLC (formerly PB Leasing Ltd.) England Pitney Bowes Finance Ireland Limited Ireland Pitney Bowes France S.A. France Pitney Bowes Holdings Ltd. England Pitney Bowes Holding SNC France Pitney Bowes Hong Kong Inc. Delaware Pitney Bowes India Inc. Delaware Pitney Bowes Insurance Agency, Inc. Connecticut Pitney Bowes International Ireland Pitney Bowes International Holdings, Inc. Delaware Pitney Bowes Italia S.r.l. Italy Pitney Bowes Japan Corporation Japan Pitney Bowes (Ireland) Limited Ireland Pitney Bowes Macau Limited Macau Pitney Bowes Management Services, Inc. Delaware Pitney Bowes Management Services Canada, Inc. Canada Pitney Bowes Management Services Limited England Pitney Bowes Marking Systems Ltd. Delaware Pitney Bowes Oy Finland Pitney Bowes Limited England Pitney Bowes Properties Inc. Connecticut Pitney Bowes Real Estate Financing Corporation Delaware Pitney Bowes Servicios, S.A. de C.V. Mexico Pitney Bowes Shelton Realty Inc. Connecticut Pitney Bowes Svenska Aktiebolag Sweden Pitney Bowes World Trade Corporation (FSC) Virgin Islands Pitney Structured Funding I Inc. Delaware EXHIBIT (iv) ------------ Page 3 of 4 SUBSIDIARIES OF THE REGISTRANT (continued) - ------------------------------ Country or state of Company name incorporation - ------------ ------------- PREFCO I Inc. Delaware PREFCO I LP Inc. Delaware PREFCO II Inc. Delaware PREFCO II LP Inc. Delaware PREFCO III Inc. Delaware PREFCO III LP Inc. Delaware PREFCO IV Inc. Delaware PREFCO IV LP Inc. Delaware PREFCO V Inc. Delaware PREFCO V LP Inc. Delaware PREFCO VI Inc. Delaware PREFCO VI LP Inc. Delaware PREFCO VII Inc. Delaware PREFCO VII LP Inc. Delaware PREFCO VIII Inc. Delaware PREFCO VIII LP Inc. Delaware PREFCO IX Inc. Delaware PREFCO IX LP Inc. Delaware PREFCO X Inc. Delaware PREFCO X LP Inc. Delaware PREFCO XI Inc. Delaware PREFCO XI LP Inc. Delaware PREFCO XII Inc. Delaware PREFCO XII LP Inc. Delaware PREFCO XIII Inc. Delaware PREFCO XIII LP Inc. Delaware PREFCO XIV Inc. Delaware PREFCO XIV LP Inc. Delaware PREFCO XV Inc. Delaware PREFCO XV LP Inc. Delaware PREFCO XVI Inc. Delaware PREFCO XVI LP Inc. Delaware PREFCO XVII Inc. Delaware PREFCO XVII LP Inc. Delaware PREFCO XVIII Inc. Delaware PREFCO XVIII LP Inc. Delaware PREFCO XIX Inc. Delaware PREFCO XIX LP Inc. Delaware PREFCO XX Inc. Delaware PREFCO XXI Inc. Delaware PREFCO XXI LP Inc. Delaware PREFCO XXII Inc. Delaware PREFCO XXII LP Inc. Delaware PREFCO - Dayton Community Urban Renewal Corporation Ohio RE Properties Management Corporation Delaware Remington Customer Finance Pty. Limited Australia ROM Holding Pty. Limited Australia ROM Securities Pty. Limited Australia Sales & Service Training Center Inc. Georgia Techno Mail Service K.K. Japan EXHIBIT (iv) ------------ Page 4 of 4 SUBSIDIARIES OF THE REGISTRANT (continued) - ------------------------------ Country or state of Company name incorporation - ------------ ------------- TECO Pitney Bowes Co., Ltd. (50% owned) Taiwan Teco Tension Supply Co., Ltd. Taiwan The Pitney Bowes Bank, Inc. (formerly Pitney Bowes Financial Corporation) Utah Time-Sensitive Delivery Guide Inc. Delaware Towers FSC, Ltd. Bermuda Universal Postal Frankers Ltd. England Wheeler Insurance, Ltd. Vermont 1136 Corporation Delaware 75 V Corp. Delaware