Press Release: August 26, 2003

HP Announces Agreement with Konica to Strengthen and Expand Imaging, Printing Business Offerings

PALO ALTO, Calif., Aug. 26, 2003

HP (NYSE:HPQ) today announced a new relationship with Konica to strengthen and expand its imaging and printing offering to the business market. HP will collaborate with Konica to leverage its expertise in copier engines, broadening HP's portfolio of products for commercial customers.

"By combining Konica's robust copier engine expertise with HP's heritage of networking and manageability, we will bring to the market one sophisticated system that is completely integrated with current HP hardcopy office products," said George Mulhern, senior vice president, HP Imaging and Printing Group. "This agreement with Konica augments and complements HP's existing partnerships and will enable us to more rapidly expand our imaging and printing offerings."

Details of the product offerings from this relationship and market strategy will be announced in the coming months, with products shipping later this year.

Information about HP's existing line of imaging and printing solutions and services for business customers is available at

About HP

HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing for consumers, enterprises and small and medium businesses. For the last four quarters, HP revenue totaled $71.8 billion. 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 for the fiscal year ended October 31, 2002 and subsequently filed reports, including its quarterly report for the fiscal quarter ended April 30, 2003. 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.

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