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HP, Intel Launch First-of-its-Kind Innovation Center in Asia

Center showcases groundbreaking solutions for China's booming financial industry, among other fast-growing sectors
SHANGHAI, China, Nov. 10, 2004

HP today announced that it has teamed with Intel to launch an Industry Innovation Center in Shanghai that showcases technology and business solutions targeted at the finance, manufacturing, public sector and telecommunications industries. The center is a first of its kind in the Asia Pacific region.

HP financial solutions will be the first set of demonstrations at the center in conjunction with HP Financial Services Industry Week in Shanghai. HP FSI Week is part of a regular industry-focused program that brings customers from targeted industries in Asia Pacific to the center so they can experience technologies that can help grow their customer base, manage their businesses and provide a competitive edge.

The Industry Innovation Center is one way in which HP will continue to serve China's burgeoning financial industry, which will grow from approximately $4.71 billion this year to an estimated $8.08 billion by 2008, according to IDC.(1) HP also has solution facilities in Beijing.

"Since China's accession to the WTO, there have been more financial service businesses entering the market. Higher customer expectations, the need for product flexibility and new compliance and governance rules have led to an increasing demand for more innovative banking solutions and products," said Mike Stephens, general manager, Financial Services Industry - Asia Pacific and Japan, HP. "Establishing market leadership in China has been a top priority for HP, so it was a natural step for us to build the Industry Innovation Center in Shanghai, which has become a hotbed of financial reform and modernization."

Solutions tailored for the finance industry

Developed in collaboration with Intel, the center will offer a full range of front office and backend technologies that target banks, insurers and brokerage firms. Highlights from these core banking, payments and mobility solutions include:

  • Self-service e-banking counters that allow the young and trendy to conveniently manage their finances in the places they frequent, such as bookstores and cafés;

  • RFID-enabled credit cards that immediately identify high net-worth customers as they walk through the doors of the bank, so they can be ushered into VIP lounges by mobile concierge bankers with handhelds;

  • Digital pens that capture form content with a miniature digital camera. The information can then be downloaded into a database in digital format, eliminating the need for tedious and time-consuming data entry.

Solutions from the Industry Innovation Center also will be introduced remotely through online 3D demos or video.

"In the face of increasingly complex challenges brought on by regulation, global consolidation, intense competition and risks, enterprises need to combine best-in-class business processes and IT infrastructure to re-ignite growth, increase profitability and create new competitive advantage," said Jason Fedder, regional director, Asia Pacific Strategic Planning and Marketing, Asia Pacific, Intel. "The Industry Innovation Center will help drive solutions that enable new and fundamentally more efficient ways to conduct business by streamlining operations, reducing costs, improving service and driving growth for the financial services industry."

About HP

HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing. For the four fiscal quarters ended July 31, 2004, HP revenue totaled $78.4 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.


(1) Source: IDC Black Book Verticals, August 2004


This news release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they ever materialize or prove incorrect, could cause the results of HP and its consolidated subsidiaries to 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 the expected development, performance or rankings of products or services; statements of expectation or belief; and any statement of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the development, performance and market acceptance of products and services and other risks that are described from time to time in HP's Securities and Exchange Commission reports, including but not limited to HP's Quarterly Report on Form 10-Q for the period ended July 31, 2004 and other reports filed after HP's Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2003. HP assumes no obligation and does not intend to update these forward-looking statements.

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.