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HP Board Appoints Russell Reynolds Associates for Chief Executive Officer Search

PALO ALTO, Calif., Feb. 17, 2005

The board of directors of HP today announced that it has appointed Russell Reynolds Associates to handle activities related to the search for a new chief executive officer of the company. The search will be managed by Andrea Redmond and Charles Tribbett, co-leads of the firm's CEO/Board Services Practice, along with their team.

"We are pleased to have Andrea, Charles and the Russell Reynolds team in place to assist us in identifying and attracting the best candidate for the position of HP Chief Executive Officer," said Patricia C. Dunn, non-executive chairman of the board of HP. "As we expect this search to be managed with the highest level of confidentiality, we will not comment further until we are ready to announce our new CEO."

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 Jan. 31, 2005, HP revenue totaled $81.8 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 the risks or uncertainties materialize or the assumptions prove incorrect, the results of HP and its consolidated subsidiaries may 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 any statements about expected financial results; any statements of the plans, strategies, and objectives of management for future operations; any statements regarding future economic conditions or performance; any statements regarding management and organizational structure; any 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; macroeconomic and geopolitical trends and events; disruptions in relationships with customers, suppliers and partners resulting from management transition; 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 Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2004 and other documents filed after the Form 10-K. 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.