Press Release:

HP Equips Kent State Financial Engineering Trading Floor

State-of-the-art Facility Simulates Derivatives-based Trading in Electronic Classroom
KENT, Ohio, April 3, 2003

Equipped with 20 industry-standard HP ProLiant servers and 30 high-end PCs from HP (NYSE:HPQ), Kent State University today opened its Financial Engineering Trading Floor, which is designed to give business students hands-on experience in risk management and derivatives trading by replicating trading floor conditions.

Housed within the university's College of Business Administration, the state-of-the-art trading floor has 30 HP Workstations xw6000 with dual TFT 1825 flat panel monitors, each equipped with live exchange data feeds to the Chicago Board of Trade, the Chicago Mercantile Exchange, BrokerTec, the Singapore Exchange, Tokyo Grain Exchange and Eurex, an international exchange in Frankfurt. The facility also includes 10 HP ProLiant DL360 servers and 10 HP ProLiant DL380 servers that support high-speed data connections.

"State-of-the-art education requires state-of-the-art technology, particularly in preparing students for careers in today's complex, high-tech global financial industry," said Michael Humke, director of higher education line of business, HP Public Sector Organization. "We are delighted to help support this innovative program by providing the cutting-edge technologies and equipment that will help train tomorrow's business leaders."

Financial engineers apply mathematical models to risk management in finance. They are generally employed by the banking and financial industries including financial markets, investment banks, insurance companies, corporate treasuries and regulatory agencies.

Only a handful of colleges and universities have trading floor facilities, and Kent State's is the only derivatives-oriented facility at an academic institution. The facility also is a key component of Kent State's master's degree program in financial engineering.

"The creation of an on-campus Financial Engineering Trading Floor will further distinguish Kent State as a center of excellence in financial engineering and risk management," said Mark E. Holder, assistant professor of finance and director of Kent State's Master's of Science in Financial Engineering program. "We are grateful to partners like HP who have helped make this facility a reality."

About HP

HP is a leading global provider of products, technologies, solutions and services to consumers and businesses. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing. HP completed its acquisition of Compaq Computer Corporation on May 3, 2002. More information about HP is available at

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 annual report on Form 10-K for the year ended October 31, 2002, as filed with the Securities and Exchange Commission on January 21, 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

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