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October 12, 1998

PITNEY BOWES SELLS OFF LEASING ARM FOR $800M

By CBR Staff Writer

Pitney Bowes Inc has agreed to sell its Colonial Pacific Leasing Corp finance unit to GE Capital, in a deal said to be worth over $800m in cash. Pitney Bowes, the business equipment provider and postal metering giant from Stamford, Connecticut, is facing a major transition into the internet-enabled online market.

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