TIDMPST 
 
RNS Number : 4795O 
Pitney Bowes MapInfo UK Limited 
30 June 2010 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR 
FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA 
OR ANY OTHER JURISDICTION WHERE IT WOULD BE UNLAWFUL TO DO SO 
 
30 June 2010 
 
Disclosure in accordance with 
 Rule 2.11 of the UK City Code on Takeovers and 
                            Mergers (the "City Code") 
 
Further to the Rule 2.5 announcement and the release of the Offer Document by 
Pitney Bowes MapInfo UK Limited (an indirect wholly-owned subsidiary of Pitney 
Bowes, Inc.) on 10 June 2010 (the "Rule 2.5 Announcement" and the "Offer 
Document", respectively), in relation to the recommended cash offer for Portrait 
Software plc (the "Offer"), Pitney Bowes MapInfo UK Limited makes the following 
disclosure in accordance with Rule 2.11(d) of the City Code: 
As referred to in the Rule 2.5 Announcement and the Offer Document, Pitney Bowes 
MapInfo UK Limited has received an irrevocable undertaking (an "Irrevocable 
Undertaking") from The Air Group Ltd. (the "Air Group") to accept, or procure 
the acceptance of, the Offer in respect of its beneficial shareholding of 
Portrait Shares. 
The Rule 2.5 Announcement and the Offer Document stated that the Air Group's 
beneficial shareholding amounted, in aggregate, to 4,495,977 Portrait Shares 
(representing approximately 3.63 per cent. of the existing issued ordinary 
shares of Portrait as at the time of the Rule 2.5 Announcement and the Offer 
Document).  The Rule 2.5 Announcement and the Offer Document further stated that 
Pitney Bowes MapInfo UK Limited received irrevocable undertakings to accept, or 
procure acceptance of, the Offer from certain Portrait Shareholders (including 
the Air Group) in respect of, in aggregate, 67,813,366 Portrait Shares, 
representing approximately 54.75 per cent. of the existing issued ordinary 
shares of Portrait (as at the time of the Rule 2.5 Announcement and the Offer 
Document), as well as irrevocable undertakings to accept the Offer from all of 
the Portrait Directors in respect of their entire beneficial holdings of 
Portrait Shares, amounting to, in aggregate, 2,196,787 Portrait Shares and 
representing approximately 1.77 per cent. of the existing issued ordinary shares 
of Portrait (as at the time of the Rule 2.5 Announcement and the Offer 
Document).  Accordingly, Pitney Bowes MapInfo UK Limited received from the 
Portrait Directors and certain Portrait Shareholders (including the Air Group), 
in aggregate, irrevocable undertakings to accept, or procure the acceptance of, 
the Offer in respect of 70,010,153 Portrait Shares, representing approximately 
56.52 per cent. of the existing issued ordinary shares of Portrait (as at the 
time of the Rule 2.5 Announcement and the Offer Document). 
Further to the disclosure in the Rule 2.5 Announcement and Offer Document 
relating to the Air Group's shareholding in Portrait Software, the Air Group has 
notified Pitney Bowes MapInfo UK Limited that due to an administrative error, it 
is the beneficial owner of 4,445,977 Portrait Shares and not 4,495,977 Portrait 
Shares to which the Irrevocable Undertaking relates. Consequently, the Air Group 
will no longer be able to procure compliance with the terms of the Irrevocable 
Undertaking in respect of 50,000 Portrait Shares.  The remainder of the Portrait 
Shares beneficially owned by the Air Group remain subject to the terms of the 
Irrevocable Undertaking.  Accordingly, the Irrevocable Undertaking now relates 
to 4,445,977 Portrait Shares, representing approximately 3.58 per cent. of the 
existing issued ordinary shares of Portrait (based on 124,107,508 Portrait 
Shares in issue as announced by Portrait Software on 25 June 2010 pursuant to 
Rule 2.10 of the City Code). 
Accordingly and further to the related disclosure contained in the Rule 2.5 
Announcement and the Offer Document, Pitney Bowes MapInfo UK Limited confirms 
that it has received irrevocable undertakings from certain Portrait Shareholders 
(including the Air Group) to accept, or procure acceptance of, the Offer in 
respect of, in aggregate, 67,763,366 Portrait Shares, representing approximately 
54.60 per cent. of the existing issued ordinary shares of Portrait.  Together 
with the irrevocable undertakings received from the Directors of Portrait 
Software, Pitney Bowes MapInfo UK Limited has received irrevocable undertakings 
to accept, or procure acceptance of, the Offer in respect of 69,960,153 Portrait 
Shares, representing approximately 56.37 per cent. of the existing issued 
ordinary shares of Portrait Software. 
Terms not defined in this announcement will bear the same meanings as set out in 
the Offer Document. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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