News release

HP to Provide Audio, Video Webcasts of Security Analysts Meeting

PALO ALTO, Calif., Dec. 4, 2000

Hewlett-Packard Company (NYSE: HWP) today announced it would provide a live audio Webcast of its meeting with security analysts Wednesday, and a delayed video Webcast of the meeting beginning the following day.

The meeting, which will be held at the company's Palo Alto headquarters, is scheduled from 8 a.m. to 12:30 p.m. PST. Speakers' slides will be posted at the Web site at approximately the same time the speeches take place. The public may access the Webcast of the meeting and the slides at: http://www.hp.com/hpinfo/investor/personnel/
secanal/1200_secanal_index.html.

Thursday, a video Webcast will be posted at the same site and will remain for seven days, divided into sections for each speaker. At that time, the audio Webcast and slides will be removed from the site.

Speakers scheduled to present are:

• Carly Fiorina, chairman, president and chief executive officer
• Bob Wayman, executive vice president, Finance and Administration, and chief financial officer
• Pradeep Jotwani, president, Consumer Business Organization
• Ann Livermore, president, Business Customer Organization
• Carolyn Ticknor, president, Imaging and Printing Systems
• Duane Zitzner, president, Computing Systems

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 88,500 employees worldwide and had total revenue from continuing operations of $48.8 billion in its 2000 fiscal year. Information about HP and its products can be found on the World Wide Web at http://www.hp.com.

Note to Editors: You must have Windows® Media Player installed on your system to access the Webcasts.

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