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HP to Acquire European Online Photo Service PIXACO

PALO ALTO, Calif. -- HP today announced it has signed a definitiveagreement to acquire bilderservice.de GmbH, which operates PIXACO -a leading online photo services and products site in Europe.

The acquisition of theprivately-held company will enable HP to rapidly extend the reachof its online photo services throughout Europe, building on thepurchase of Snapfish earlier this year. HP plans to extend many ofits Snapfish capabilities to the PIXACO service - bringing Europeancustomers greater choices for printing, sharing and storing theirphotos.

"This acquisition gives HPthe ability to quickly become Europe's largest online photoservice, just as it is in the U.S. today," said Ben Nelson, vicepresident and general manager, Snapfish, Digital Photography andEntertainment, HP. "Together, Snapfish and PIXACO have theexperience and scope to provide a world-class online photoexperience that will uniquely meet the needs of consumers inEurope."

Today, Snapfish has 20million registered users in the United States and United Kingdomand is adding up to 1 million new users every month.

The acquisition also isexpected to foster the growth of Internet-to-retail digitalphotography services in Europe. Currently, Snapfish powers onlinephoto services for more than two dozen leading retailers, Internetservice providers and consumer brands in both the United States andUnited Kingdom, and will now look to align with similar partnersthroughout Europe.

Since PIXACO wasestablished in 2003 by bilderservice.de, customers in 11 countriesacross Europe have come to recognize and trust the products andservices made available through the PIXACO site.

"With this move, Europeanswill now be exposed to a whole new level of digital photographyservices in addition to the best-value offering that they have cometo expect from PIXACO," said Karsten Schneider, chief executiveofficer and founder, bilderservice.de GmbH. "We look forward toproviding our customers with a more powerful and sophisticatedonline digital photography experience."

PIXACO customers willcontinue to enjoy the same benefits they receive today, along withnew features and services from HP's Snapfish portfolio of digitalphotography solutions.

More information about allof Snapfish's products and services is available at http://www.snapfish.com.

AboutPIXACO

Located in Jena, Germany,bilderservice.de GmbH established the PIXACO portal in 2003. Today,PIXACO is one of the leading e-commerce sites providing photoservices and photo products in Europe. The award-winning PIXACOportal offers quick, simple and inexpensive solutions for printingdigital photos and buying a wide range of photo products online.Additional information is available at http://www.pixaco.com or http://www.pixaco.de.


This news releasecontains forward-looking statements that involve risks anduncertainties, as well as assumptions that, if they evermaterialize or prove incorrect, could cause the results of HP andits consolidated subsidiaries to differ materially from thoseexpressed or implied by such forward-looking statements andassumptions. All statements other than statements of historicalfact are statements that could be deemed forward-lookingstatements, including the expected development, performance orrankings of products or services; statements of expectation orbelief; and any statement of assumptions underlying any of theforegoing. Risks, uncertainties and assumptions include thedevelopment, performance and market acceptance of products andservices and other risks that are described from time to time inHP's Securities and Exchange Commission reports, including but notlimited to HP's Quarterly Report on Form 10-Q for the fiscalquarter ended July 31, 2005, and other reports filed after HP'sAnnual Report on Form 10-K for the fiscal year ended Oct. 31, 2004.HP assumes no obligation and does not intend to update theseforward-looking statements.

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