Cognex Machine Vision Selected by Pitney Bowes

NATICK, Mass. -- June 17, 2004 -- Cognex Corporation (NASDAQ: CGNX), the world's leading supplier of machine vision systems, announced today that Pitney Bowes will integrate Cognex's In-Sight® 4000 into its high-volume automatic inserter systems.

The Pitney Bowes Flowmaster™ and APS™ machines process high-volume outgoing mail by automatically sorting documents and then inserting them into mailing envelopes. At several points in the handling process, the Cognex In-Sight 4000 will read and verify the unique barcodes that are printed on each document in order to ensure that all checks, notices and statements are correctly bundled together and get properly inserted into the mailing envelope for each recipient.

'‘Our customers rely on our equipment to handle their mail processing with accuracy and precision,’‘ said Joseph DiCristina, a Pitney Bowes senior engineer in the software and systems test engineering department. ‘‘After testing and validation of the Cognex system, In-Sight met our quality standards.’‘

‘‘Our success at Pitney Bowes is another example of the wide variety of automation problems that Cognex's machine vision systems can solve,’‘ said Dr. Robert J. Shillman, Cognex CEO and Chairman. ‘‘Now, when you open your bank or brokerage statement or your insurance policy, you can be assured that every page is yours if your institution chooses Pitney Bowes for its mailing needs.’‘

About Pitney Bowes
Pitney Bowes is the world's leading provider of integrated mail and document management systems, services and solutions. The $4.4 billion company helps organizations of all sizes engineer the flow of communication to reduce costs and increase impact, and enhance customer relationships. The company's 80-plus years of technological leadership has produced many major innovations in the mailing industry and more than 3,500 active patents with applications in a variety of markets, including printing, shipping, encryption, and financial services. With approximately 33,000 employees worldwide, Pitney Bowes serves more than 2 million businesses through direct and dealer operations.

About Cognex
Cognex Corporation designs, develops, manufactures and markets machine vision systems, or computers that can ‘‘see.’‘ Cognex is the world's leader in the machine vision industry, having shipped more than 200,000 machine vision systems, representing over $1.5 billion in cumulative revenue, since the company's founding in 1981. Cognex's Modular Vision Systems Division, headquartered in Natick, Massachusetts, specializes in machine vision systems that are used for automating the manufacture of a wide range of discrete items and for assuring their quality. Cognex's Surface Inspection Systems Division, headquartered in Alameda, California, specializes in machine vision systems that are used for inspecting the surfaces of products manufactured in a continuous fashion, such as metals, paper and plastics. In addition to its corporate headquarters in Natick, Massachusetts, Cognex also has regional offices located throughout North America, Japan, Europe, and Southeast Asia. Visit Cognex online at http://www.cognex.com.