<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-31-1997
<PERIOD-END>                               SEP-30-1997
<CASH>                                         125,140
<SECURITIES>                                     1,955
<RECEIVABLES>                                1,962,045<F1>
<ALLOWANCES>                                    64,737<F1>
<INVENTORY>                                    251,287
<CURRENT-ASSETS>                             2,419,017
<PP&E>                                       2,740,447<F2>
<DEPRECIATION>                               1,433,331<F2>
<TOTAL-ASSETS>                               8,242,294
<CURRENT-LIABILITIES>                        3,513,749
<BONDS>                                      1,171,301
<PREFERRED-MANDATORY>                          300,000
<PREFERRED>                                      2,291
<COMMON>                                       323,338
<OTHER-SE>                                   1,663,166
<TOTAL-LIABILITY-AND-EQUITY>                 8,242,294
<SALES>                                      1,317,483
<TOTAL-REVENUES>                             2,980,209
<CGS>                                          788,861
<TOTAL-COSTS>                                1,184,250
<OTHER-EXPENSES>                                64,061
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             157,825
<INCOME-PRETAX>                                578,915
<INCOME-TAX>                                   200,094
<INCOME-CONTINUING>                            378,821
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   378,821
<EPS-PRIMARY>                                     1.30
<EPS-DILUTED>                                     1.29
<FN>
<F1>Receivables are comprised of trade receivables of $347,726 and short-term
finance receivables of $1,614,319. Allowances are comprised of allowance for
trade receivables of $19,532 and for short-term finance receivables of $45,205.
<F2>Property, plant and equipment are comprised of fixed assets of $1,104,553
and rental equipment and related inventories of $1,635,894. Depreciation is
comprised of depreciation on fixed assets of $619,558 and on rental equipment
and related inventories of $813,773.
</FN>