Press Release: March 25, 2003

Fender Musical Instruments Corp. Rocks with New HP PC, Server Solutions

PALO ALTO, Calif., March 25, 2003

HP (NYSE:HPQ) today announced that Fender Musical Instruments Corporation, the world's foremost manufacturer of electric guitars and amplifiers, is upgrading its technology systems with HP notebook and desktop PCs and industry-standard servers.

"HP delivers quality and very reliable technology solutions that will keep Fender strumming along for many years to come," said Kevin Pollock, data center and network services manager, Fender Musical Instruments Corporation. "Like Fender, HP is known for delivering innovative products and solutions that provide solid investment protection and peace of mind."

Fender, an American icon in the music industry, has purchased HP Compaq D510 desktop PCs, Evo n800v notebook PCs and HP ProLiant ML350 and DL380 industry-standard servers. The installation project was designed to replace outdated technology systems to increase business efficiency and productivity among the company's operations in Scottsdale, Ariz.; Corona, Calif.; Nashville, Tenn.; and Ensenada, Mexico.

"We are very pleased that Fender selected HP's technology solutions to support their growing business," said Robyn West, vice president of small and medium business, HP Personal Systems Group. "Rather than taking a one-size-fits-all approach, HP and our value-added solution partners offer customizable solutions that address the needs of our small and medium business customers."

More information about HP's SMB products and solutions is available at http://www.hp.com/go/smb. For more information on Fender products, please visit http://www.fender.com.

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 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 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

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.