<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-31-1997
<PERIOD-END>                               JUN-30-1997
<CASH>                                         130,743
<SECURITIES>                                     1,474
<RECEIVABLES>                                1,807,475<F1>
<ALLOWANCES>                                    60,937<F1>
<INVENTORY>                                    255,791
<CURRENT-ASSETS>                             2,266,322
<PP&E>                                       2,735,770<F2>
<DEPRECIATION>                               1,429,037<F2>
<TOTAL-ASSETS>                               8,288,497
<CURRENT-LIABILITIES>                        3,514,281
<BONDS>                                      1,172,053
<PREFERRED-MANDATORY>                          300,000 
<PREFERRED>                                      2,337
<COMMON>                                       323,338
<OTHER-SE>                                   1,763,156
<TOTAL-LIABILITY-AND-EQUITY>                 8,288,497
<SALES>                                        867,579
<TOTAL-REVENUES>                             1,967,481
<CGS>                                          523,298
<TOTAL-COSTS>                                  779,013
<OTHER-EXPENSES>                                42,483
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             104,597
<INCOME-PRETAX>                                383,745
<INCOME-TAX>                                   132,729
<INCOME-CONTINUING>                            251,016
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   251,016 
<EPS-PRIMARY>                                      .86
<EPS-DILUTED>                                      .85
<FN>
<F1>Receivables are comprised of trade receivables of $340,102 and short-term
finance receivables of $1,467,373. Allowances are comprised of allowance for
trade receivables of $17,423 and for short-term finance receivables of $43,514.
<F2>Property, plant and equipment are comprised of fixed assets of $1,093,043
and rental equipment and related inventories of $1,642,727. Depreciation is
comprised of depreciation on fixed assets of $608,161 and on rental equipment
and related inventories of $820,876.
</FN>