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HP Launches Compliance Suite to Help Financial Institutions Manage Risk and Reduce Costs

PALO ALTO, Calif., June 21, 2005

HP today announced a suite of products and services designed to help financial institutions reduce the cost of implementing and sustaining regulatory compliance systems while improving their risk management capabilities.

Available now, the HP compliance suite for financial institutions brings together solutions for enterprise risk management, enterprise information retention and IT risk management in order to shorten project timelines, reduce ongoing compliance costs and enable exception-based risk management through timely access to information.

Regulatory scrutiny and prescriptive measures faced by the global financial sector have increased significantly within the past 10 years. This is the result of variables such as increased systemic risk, corporate governance scandals and an acknowledgment that business continuity is a necessity.

"HP's goal is to help our customers transform compliance from a cost burden to a value generator to build an Adaptive Enterprise in which business and IT are synchronized to capitalize on change," said Ismail Pishori, worldwide director, Risk Management and Compliance, Financial Services Industry, HP. "Like other HP Adaptive Enterprise blueprints for the financial services industry, including HP Open Bank and HP Open Payments, the HP compliance suite allows firms to tackle priorities based on business benefits and organizational readiness."

Enterprise risk management and information retention

The new HP Risk Data Repository is technology agnostic. It is designed to run on most of today's commercially available databases and operating systems using any data integration tool and analytics engine for regulatory and economic capital calculations. The repository provides a fully developed, preconfigured Basel II physical data model and offers strategy review, gap analysis, data mapping and integration, data warehouse operations consulting, as well as services for custom reporting, portals and executive dashboards for management information systems and regulatory reporting.

Retaining and managing transaction-related business documents, records, correspondence and data is completed in concert with HP StorageWorks Information Lifecycle Management (ILM) services and products.

The HP ILM Services Framework is the industry's first complete set of multi-vendor consulting, support and management services. Specifically configured for the financial services industry, introduced last year, the HP StorageWorks Reference Information Storage System (www.hp.com/hpinfo/newsroom/press/2004/040505a.html) is a complete, scalable archival and retrieval solution designed to help clients meet the requirements of a variety of information retention regulations.

IT risk management

HP provides a range of specialist services and products to help identify and remediate gaps in IT controls, IT availability, IT security and continuity of business in support of various regulations covering operational risk management. Additionally, HP solutions provide automation around IT controls, helping organizations to achieve sustainability and ultimately lower the cost of complying with regulatory requirements.

The recently announced HP OpenView Compliance Manager software (www.hp.com/hpinfo/newsroom/press/2005/050606b.html) is designed to continuously monitor internal controls of key business processes subject to compliance to measure the effectiveness of IT controls and mitigate risk.

The solution streamlines internal and external auditing by providing an ongoing and historical aggregate view of compliance and risk information across the entire infrastructure. HP OpenView software embeds best practice IT controls as well as cost-effective access controls related to the protection of customer and transaction information.

Finally, a broad portfolio of business continuity and availability products and global continuity services are designed to achieve operational resilience, to better handle operational risk and IT performance to changing business requirements

More information about HP solutions for FSI is available at http://www.hp.com/go/fsi.

About HP

HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended April 30, 2005, HP revenue totaled $83.3 billion. More information about HP (NYSE, Nasdaq: 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 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 fiscal quarter ended Jan. 31, 2005, and other reports filed after HP's Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2004. 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.