PITNEY BOWES INC

Ticker: PBI CUSIP: 724479100 Class: EQTY

SMITH, MOORE & CO.'s Holding History (CIK: 0000200724)

Note: Option positions (PUT/CALL) are excluded.

Q2 2015

Shares 8,025 Value ($000) $204 Avg Close $22.54 Range $20.79 - $23.93

Q1 2015

Shares 7,825 Value ($000) $201 Avg Close $23.28 Range $21.15 - $24.60

Q4 2014

Shares 7,748 Value ($000) $202 Avg Close $24.43 Range $22.38 - $25.68

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2015	8,025	$204	$22.54	$20.79 - $23.93
Q1 2015	7,825	$201	$23.28	$21.15 - $24.60
Q4 2014	7,748	$202	$24.43	$22.38 - $25.68