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HP Applauds House Hearing on President’s Trade Agenda

Statement by John Hassell, HP Director of Federal & State Government Affairs

For Immediate Release: February 15, 2006

HP commends the leadership of Chairman Bill Thomas (R-CA) and the House Ways and Means Committee for holding a hearing today on President Bush’s trade agenda. HP also applauds U.S. Trade Representative Rob Portman for continuing to pursue new trade opportunities for American companies and economic growth. Expanding America’s trade boundaries is a crucial step in remaining competitive in today’s international marketplace -- and this hearing makes certain that trade remains at the top of the competitive agenda.

Free trade agreements benefit American high-tech companies like HP by eliminating tariffs and creating new opportunities for innovative U.S products and services. As a global company, HP is strongly supportive of new partnerships such as last year’s CAFTA-DR and Bahrain Free Trade Agreements, both of which will help grow the U.S. economy.

HP looks forward to working with Congress and the Administration in pursuing expanded free trade agreements with Panama, Colombia, Ecuador, Thailand, the Southern African Customs Union, and the Republic of Korea. Additionally, HP urges the Administration to begin negotiations with other marketplaces and continue to support multilateral negotiations in the World Trade Organization.

An expanded and meaningful trade policy will maintain America’s economic security and help American companies to compete in today’s growing global marketplace.

About HP

HP is a technology solutions provider to consumers, businesses and institutions globally. The company’s offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended Oct. 31, 2005, HP revenue totaled $86.7 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.


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