News release

HP to Participate in UDDI Project

HP to Share e-Speak Technology With Internet Registry and Discovery Standards Project

PALO ALTO, Calif., Oct. 26, 2000

Hewlett-Packard Company (NYSE: HWP) today announced that it is fully participating in the UDDI (Universal, Description, Discovery and Integration) Project, after reaching agreement with UDDI members, including IBM, Ariba, and Microsoft®.

This decision took place after a series of discussions with members of the UDDI Project to clarify how the specification development process will take place. The UDDI initiative is focused on creating a registry standard for B2B applications and marketplaces.

"Our decision to join the UDDI Project is further proof of HP's leadership in the adoption of open standards," said Bill Russell, vice president and general manager, HP Software and Solutions Organization. "A new generation of software is being developed to facilitate the emerging services-based computing model. As the industry builds out this new infrastructure, it's critically important that these emerging technologies include UDDI, e-speak and XML. If as an industry we're truly committed to delivering on the real promise of technology, then the technologies must be open, standards-based initiatives."

HP expects to contribute intellectual property to the consortium with the goal of helping to accelerate the UDDI development schedule. The intellectual property would include e-speak technology, the dynamic e-services platform that HP initially released in May 1999.

"We are pleased with HP's decision to bring their expertise in Web services to the UDDI Project and look forward to the contribution of their e-speak technology," said Marie Wieck, vice president Software Strategy, IBM. "This builds further momentum for UDDI, and customers will benefit by having the industry unite around this important e-business specification."

In addition to taking an active role in the UDDI project, HP is expected to bring applicable customers and partners into the UDDI process to further define the standard in the customer environment. Future UDDI versions are expected to address trading agreements, service standards and business process workflow.

"I'm glad to see HP contribute in a significant way to future e-service standards," said Darryl Plummer, GVP, Research Group Director, The Gartner Group. "This is definitely a step in the right direction."

For more information on UDDI, please see www.uddi.org.

About HP

Hewlett-Packard Company -- a leading global provider of computing and imaging solutions and services -- is focused on making technology and its benefits accessible to individuals and businesses through simple appliances, useful e-services and an Internet infrastructure that's always on.

HP has 86,000 employees worldwide and had total revenue from continuing operations of $42.4 billion in its 1999 fiscal year. Information about HP and its products can be found on the World Wide Web at http://www.hp.com.

Microsoft is a U.S. registered trademark of Microsoft Corp.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are 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 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 the annual report on Form 10-K for the year ended Oct. 31, 1999, 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 does not intend to update these forward-looking statements.