Press Release: June 19, 2003

Countrywide Financial Banks on HP as a Preferred Technology Provider

HP to Provide Thousands of Notebook and Desktop PCs as well as ProLiant Server Cluster Support
PALO ALTO, CALIF., JUNE 19, 2003

HP (NYSE:HPQ) today announced multi-year, multi-million dollar technology agreements with Countrywide Financial Corporation, which through its family of companies is a diversified financial services provider headquartered in Calabasas, Calif. Under the agreements, HP Services will provide technical support for more than 100 of Countrywide's industry-standard HP ProLiant servers, in addition to delivering 4,000 HP notebook PCs for Countrywide's main subsidiary, Countrywide Home Loans, Inc.

The HP notebook PCs, equipped with wireless LAN technology, provide sales agents quick and efficient connectivity to the Internet at any time. Combined with wireless Internet service, this enables agents to easily check mortgage rates and respond to customer requests in real time while in the field.

As one of Countrywide's preferred technology providers, HP also has recently refreshed more than 25,000 HP desktop PCs for Countrywide's 30,000 employees from entry to executive levels in more than 1,400 branch offices nationwide. The installation project was designed to replace outdated technology systems and increase business efficiency and productivity among the company's operations.

A managed services agreement calls for HP to provide the management tools, personnel and hardware needed to maintain 24 x 7 availability and solid reliability of Countrywide's server cluster environment consisting of two-way, four-way and eight-way HP ProLiant servers.

The virtually constant uptime of the ProLiant server clusters allows Countrywide to perform fast, reliable customer loan origination to help create the highest level of customer satisfaction for its customers. With the newly added HP support, Countrywide can continue to dedicate resources to other areas of the company, including the expansion of its e-business products and services, in addition to exploring new technologies to grow revenue and increase usage of online services for customers.

"As one of our preferred technology providers for more than nine years, HP continues to provide Countrywide with innovative products and services that allow us to keep superior customer service as top priority," said Richard Jones, chief technology officer, Countrywide Financial Corporation. "With these new agreements, HP brings the server support that Countrywide Financial needs to continue our growth into a wide array of financial services and remain focused on customer needs."

"The server cluster support that HP will provide Countrywide is just an example of one of the many end-to-end solutions that Countrywide has received from HP for almost a decade," said Jim Milton, senior vice president, HP Enterprise Systems Group, and managing director, HP Americas. "Not only does HP provide Countrywide with a variety of IT hardware, from the data center to the desktop, but we also provide the support services which deliver the high levels of uptime Countrywide needs to meet their customer satisfaction and business objectives."

About Countrywide Financial Corporation

Founded in 1969, Countrywide Financial Corporation is a member of the S&P 500, Forbes 500 and Fortune 500. Through its family of companies, Countrywide provides mortgage banking and diversified financial services in domestic and international markets. Mortgage banking businesses include loan production and servicing principally through Countrywide Home Loans, Inc., which originates, purchases, securitizes, sells, and services primarily prime- quality loans. Also included in Countrywide's mortgage banking segment is the LandSafe group of companies that provide loan closing services. Diversified financial services encompass capital markets, banking, insurance, and global, largely through the activities of Countrywide Capital Markets, a mortgage-related investment banker; Countrywide Bank, a division of Treasury Bank, NA, a banking entity offering customers CDs, money market accounts, and home loan products; Balboa Life & Casualty Group, whose companies are national providers of property, liability, and life insurance; Balboa Reinsurance, a captive mortgage reinsurance company; Countrywide Insurance Services, Inc., a national insurance agency offering home-related insurance products; and Global Home Loans, a European mortgage banking joint venture in which Countrywide holds a majority interest.

For more information about the Company, visit Countrywide's Web site at www.countrywide.com.

About HP

HP delivers vital technology for business and life. The company's solutions span IT infrastructure, personal computing and access devices, global services and imaging and printing for consumers, enterprises and small and medium business. For the last four quarters, HP revenue totaled $70.4 billion. More information about HP is available at http://www.hp.com.


This news release contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the possibility that the market for the sale of certain products and services may not develop as expected; that development and performance of these products and services may not proceed as planned; 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 quarter ended January 31, 2003, and subsequently filed reports. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, HP's results could differ materially from HP's expectations in these statements. HP assumes no obligation 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.