Press Release: August 22, 2007
Topics:

HP Wins IT Services Leasing Contract from Maritz

PALO ALTO, Calif., Aug. 22, 2007

HP today announced it has won a leasing contract from Maritz Inc. to provide as-needed access to a wide range of HP products, including PCs, printers and servers.

The contract with HP Financial Services, the leasing and financial services subsidiary of HP, is valued at up to $5 million annually.

St. Louis-based Maritz is an integrated performance improvement, incentive travel and market research services company. By terms of its leasing contract with HP Financial Services, Maritz can order – as the company needs them – HP desktop or notebook computers, HP ProLiant servers, enterprise storage services, printers and software as well as other equipment from OfficeMax Inc., an HP value-added reseller.

Maritz takes delivery of new IT gear in St. Louis, where technicians load the software and proprietary networking applications, before shipping it to the appropriate office.

HP Financial Services reconciles equipment orders monthly and consolidates them quarterly into schedules under the master lease agreement. As older equipment comes off lease, it is returned to HP Financial Services’ technology renewal center in Andover, Mass., for remarketing. The company manages 1 million units of pre-owned and leased equipment a year.

“The ability to add equipment and services as we need them, without the capital outlay of an outright purchase, offers us a tremendous advantage,” said Rich Donnell, vice president, IT planning and administration, Maritz. “Additionally, HP Financial Services makes it possible to refresh our technology regularly without having to worry about what to do with older gear. We just ship it back and they take care of it.”

Maritz is the leading sales and marketing services company of its kind, helping clients achieve their full potential through understanding, enabling and motivating their employees, channel partners and customers. With more than 3,600 employees worldwide, Maritz ranks No. 265 in the most recent Forbes magazine listing of the “500 Biggest Privately Held Companies.”

Based in Murray Hill, N.J., HP Financial Services maintains offices in Europe, Asia-Pacific and Latin America. The company helps customers manage to the lowest total cost of ownership – from planning and acquiring technology all the way to retiring and replacing it.

HP and the environment

For decades HP has worked to manage its environmental impact by adopting environmentally responsible practices in product development, operations and supply chain. The company strives to be a global leader in reducing its carbon footprint, limiting waste and recycling responsibly. HP’s efforts earned it recognition as one of Fortune Magazine’s ”Ten Green Giants” in April 2007. More information about the company’s work in relation to the environment is available at www.hp.com/environment.

About HP

HP focuses on simplifying technology experiences for all of its customers – from individual consumers to the largest businesses. With a portfolio that spans printing, personal computing, software, services and IT infrastructure, HP is among the world’s largest IT companies, with revenue totaling $97.1 billion for the four fiscal quarters ended April 30, 2007. More information about HP (NYSE: HPQ) is available at http://www.hp.com.


This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected results; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2007 and HP’s other filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2006. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2007 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

About HP

HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.