News release

HP Names Muan Lim to Head Worldwide Technology Finance Business

HONG KONG, Dec. 20, 2000

Hewlett-Packard Company (NYSE: HWP) today announced that Muan Lim has been named vice president and worldwide general manager for HP Technology Finance. Based in Hong Kong, Lim is responsible for directing the company's worldwide business in finance offerings to customers.

Lim most recently served as vice president and general manager for HP's business PC operations in Asia Pacific. He was also the managing director of Shanghai Hewlett-Packard and was on the board of HP China Investment Ltd., HP's investment holding company in China. He will continue to serve as managing director of HP Leasing (China).

"Muan is the kind of proven performer that we need in this important position and has the leadership skills required to move the business and the team forward," said Ann Livermore, president, HP Business Customer Organization.

HP Technology Finance, with local financial representatives in 47 countries, enhances HP's total solution services to customers by providing a range of differentiated financial offerings such as utilities, bundles and leasing. Through technology financing, HP customers can manage the cost of their technology solutions as well as grow their business by delivering more services over the Internet.

Lim has been with HP for almost 20 years and has held numerous management positions in Asia Pacific. Prior to managing HP's business PC operations in Asia Pacific, he was general manager for computer products in China and was responsible for research and development, marketing, manufacturing and distribution of PCs in China.

Earlier in his career, Lim was general manager of Finance and Remarketing for Asia Pacific and during that time expanded that business substantially.

An Australian citizen born in Malaysia, Lim holds a Bachelor of Commerce degree (1st class honors) from the University of Melbourne. He is also an Associate of the Australian Institute of Chartered Accountants.

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.