Press Release: October 08, 2007
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Commerzbank AG Signs Global IT Outsourcing Contract with HP

PALO ALTO, Calif., Oct. 8, 2007

HP today announced that Commerzbank AG, Germany’s second-largest bank, will outsource to HP the management of 33,000 workstations and 12,000 printers as part of a five-year information technology services deal.

Under terms of the agreement, HP will deliver to Commerzbank a full range of IT services, from infrastructure services to complete desktop lifecycle management. These services are part of the HP End User Workplace portfolio and include desktop management, network management, print management, server management and help desk services.

Commerzbank will leverage HP’s standard IT processes and broad global reach. By outsourcing its IT functions to HP, Commerzbank can increase its focus on core business processes, standardize IT services worldwide and help lower its costs.

“This agreement will help Commerzbank AG achieve cost savings and variable costs as well as help drive IT innovation to support our growth,” said Frank Annuscheit, Group chief operating officer, Commerzbank AG.

“HP has more than 30 years of experience in the financial sector and will use that knowledge to help Commerzbank AG to grow as an efficient provider of financial services,” said Pablo Sanchez-Lozano, senior vice president and general manager – Europe, the Middle East and Africa, HP Services.

Approximately 100 Commerzbank employees will transfer to HP as part of the deal.

About Commerzbank AG

Commerzbank is Germany’s second-largest bank and one of the leading banks in Europe. The bank is a provider of financial services for private and business customers, small to medium-sized companies, and large, multinational corporations. Its consolidated balance sheet total stands at 608bn euros (US$851 billion). Commerzbank has approximately 36,000 employees (9,000 outside of Germany) and serves more than 8 million customers worldwide. Further information about Commerzbank is available at www.Commerzbank.com.

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 $100.5 billion for the four fiscal quarters ended July 31, 2007. More information about HP (NYSE: HPQ) is available at http://www.hp.com.


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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.