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HP Media Conference Call to Discuss HP-Compaq Technology Synergies

What: Hewlett-Packard Company (NYSE:HWP) Senior Vice President of Research and Director of HP Labs Dick Lampman and Compaq (NYSE:CPQ) Chief Technology Officer Shane Robison will host a media conference call to describe the technology benefits of the HP-Compaq merger.

What: Hewlett-Packard Company (NYSE:HWP) Senior Vice President of Research and Director of HP Labs Dick Lampman and Compaq (NYSE:CPQ) Chief Technology Officer Shane Robison will host a media conference call to describe the technology benefits of the HP-Compaq merger.

The call will address technology synergies in key areas such as industry-standard servers, power grid computing, high-availability computing, mobile services for nomadic users, data center utility solutions to enable computing on demand and storage technologies.

The combined company plans to invest an estimated $4 billion in research and development and add four Compaq research labs to HP's seven labs, enhancing HP's reputation as one of the world's leading corporate research facilities. In its fiscal year 2001, HP filed 5,000 patent applications worldwide, up 67 percent from the prior year. With nearly 1,000 patents from the U.S. Patent and Trademark Office in 2001, HP is on pace to break into the top 10 list of U.S. patentees by next year.

When: Wednesday, March 13, at 1:30 p.m. EST/10:30 a.m. PST

Conference Call Number: +1 800 777 1464. It is recommended that you call in 10 to 15 minutes early as lines may need to be redirected. All callers will be connected.

Replay: A replay of the conference call will be available at 12:30 p.m. Pacific on March 13 through 5 p.m. Pacific on March 15. The replay number is +1 800 633 8284 for domestic callers and +1 858 812 6440 for international callers. The reservation number is 20444412.


This document contains forward-looking statements that involve risks, uncertainties and assumptions. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements.

All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of profitability, earnings, revenues, synergies, accretion or other financial items; any statements of the plans, strategies, and objectives of management for future operations, including the execution of integration and restructuring plans and the anticipated timing of filings, approvals and closings relating to the Merger or other planned acquisitions; any statements concerning proposed new products, services, developments or industry rankings; any statements regarding future economic conditions or performance; any statements of belief and any statements of assumptions underlying any of the foregoing.

The risks, uncertainties and assumptions referred to above include the ability of HP to retain and motivate key employees; the timely development, production and acceptance of products and services and their feature sets; the challenge of managing asset levels, including inventory; the flow of products into third-party distribution channels; the difficulty of keeping expense growth at modest levels while increasing revenues; the challenges of integration and restructuring associated with the Merger or other planned acquisitions and the challenges of achieving anticipated synergies; the possibility that the Merger or other planned acquisitions may not close or that HP, Compaq or other parties to planned acquisitions may be required to modify some aspects of the acquisition transactions in order to obtain regulatory approvals; the assumption of maintaining revenues on a combined company basis following the close of the Merger or other planned acquisitions; 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, as amended on January 30, 2002, for the fiscal year ended October 31, 2001 and HP's registration statement on Form S-4 filed on February 5, 2002.

HP assumes no obligation and does not intend to update these forward-looking statements.

Additional Information About the Merger and Where to Find It

On February 5, 2002, HP filed a registration statement with the SEC containing a definitive joint proxy statement/prospectus regarding the Merger. Investors and security holders of HP and Compaq are urged to read the definitive joint proxy statement/prospectus filed with the SEC on February 5, 2002 and any other relevant materials filed by HP or Compaq with the SEC because they contain, or will contain, important information about HP, Compaq and the Merger. The definitive joint proxy statement/prospectus and other relevant materials (when they become available), and any other documents filed by HP or Compaq with the SEC, may be obtained free of charge at the SEC's web site at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by HP by contacting HP Investor Relations, 3000 Hanover Street, Palo Alto, California 94304, 650-857-1501. Investors and security holders may obtain free copies of the documents filed with the SEC by Compaq by contacting Compaq Investor Relations, P.O. Box 692000, Houston, Texas 77269-2000, 800-433-2391. Investors and security holders are urged to read the definitive joint proxy statement/prospectus and the other relevant materials (when they become available) before making any voting or investment decision with respect to the Merger.

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.