News release

HP is First High-tech Company to Join U.S.-E.U. Safe Harbor

Framework Provides for Greater Consumer Privacy, Enhances Protection of Personal Data

PALO ALTO, Calif., Feb. 12, 2001

Hewlett-Packard Company (NYSE: HWP) today announced it will participate in the "safe harbor" agreement between the U.S. Department of Commerce and European Union Data Protection Authorities. The safe harbor provides legal protection and a framework allowing for the safe transfer of personal information from European Union countries to the United States. HP is the first major technology company to join the safe harbor.

"HP believes that consumer confidence will be enhanced by ensuring customer privacy rights on- and off-line," said Barbara Lawler, customer privacy manager, HP Privacy Program. "e-Commerce will grow faster if consumer confidence is reinforced by company efforts to ensure consumers have an effective recourse for privacy complaints through agreements like the safe harbor."

"The safe harbor framework offers consistency and continuity for business operations conducted between HP sites located in the United States and the European Union. The principles stated in our privacy policy have long been consistent with the safe harbor principles," said Lawler.

HP's privacy policy directly addresses globally recognized fair information practices, including notifying customers about data collection, giving customers a choice for marketing contact and data sharing, allowing customers to access and modify collected data and providing strong security and third-party oversight.

HP conducts a substantial amount of cross-border commercial and consumer business activity with direct involvement of EU country-based HP offices and independent suppliers, and often receives personal information from them on a regular basis.

HP sees safe harbor compliance as a self-regulatory bridge to different approaches to data privacy between the United States and European Union. As a founding member of the Better Business Bureau's BBBOnLine Privacy Program, which is safe harbor-compliant, and a Privacy Seal holder, HP believes joining the safe harbor is the next logical step in its commitment to privacy protection.

"BBBOnLine is pleased that HP, one of its seal holders and sponsors, has certified for the EU safe harbor program," said Gary Laden, BBBOnLine Privacy Program Director. "This is an excellent example of HP's dedication to good privacy and sound information practices in the global arena."

For more information on safe harbor, visit: http://www.export.gov/safeharbor/.

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.

This news release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of HP and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenues, or other financial items; any statements of the plans, strategies, and objectives of management for future operations; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; statements of belief and any statement of assumptions underlying any of the foregoing. The risks, uncertainties and assumptions referred to above include the ability of HP to retain and motivate key employees; the timely development, production and acceptance of products and services and their feature sets; the challenge of managing asset levels, including inventory; the flow of products into third-party distribution channels; the difficulty of keeping expense growth at modest levels while increasing revenues; 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, 2000, and subsequently filed reports. HP does not intend to update these forward-looking statements.