After the introduction of the M400 Pelikan wanted to bring a more economical range of piston fillers to the market. The Pelikan 481 can be regarded as a precursor of the M200. Quite unusually the Pelikan logo isn´t on the cap top but beneath the blind cap. The blind cap itself carries no logo. (There are however varieties without the underlying logo.) The model 481 often has a friction fit nib unit, but it is also available with a threaded one.
Pens are known, which Pelikan Milano gave with a 12 carat bi-color nib to its business partners.