News release

HP Consolidates Advertising Agency Relationships

PALO ALTO, Calif., Nov. 1, 2000

Hewlett-Packard Company (NYSE: HWP) today announced that it has consolidated its advertising agency relationships as a result of the recent reorganization of HP's marketing operations and sharpened brand focus.

While Goodby, Silverstein & Partner's (GSP) role as HP's lead corporate brand agency remains unchanged, HP has appointed Publicis Groupe as its consolidated worldwide network agency partner effective Nov. 1, 2000. Publicis Groupe will work in two capacities: 1) collaborating with GSP in the worldwide implementation of the brand ad program; and 2) acting as the lead product and promotional agency worldwide.

HP has also chosen to centralize its worldwide media buying activity in order to optimize value, coordination and transparency. Publicis Groupe's Optimedia network has been selected from the existing roster of media agencies to fulfill this role.

HP's review of its worldwide roster of 32 agencies was underway at the time of the purchase of Saatchi & Saatchi by Publicis Groupe.

"We determined that HP's strong focus on building our brand for leadership and competitive success must be matched by a focus in agency partnerships," said Allison Johnson, vice president, HP Brand Strategy & Communications. "Publicis Groupe's purchase of Saatchi & Saatchi, along with our strong existing relationship with Goodby, Silverstein & Partners, gives us the unique opportunity to take the best of our agency resources and combine them into one powerful worldwide agency team."

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.