News release

HP and TeltecGlobal to Establish Internet-enabled Business and Community Centers in Developing Nations

PALO ALTO, Calif., Feb. 14, 2001

Hewlett-Packard Company (NYSE:HWP) and TeltecGlobal, Inc., have formed a three-year strategic cooperation agreement to develop Internet-enabled business and community centers in urban and rural communities in developing nations.

The agreement is part of HP's World e-Inclusion business initiative to broaden developing countries' access to the social and economic opportunities of the digital age.

The agreement also will include the application of LINCOS (Little Intelligent Communities) units to connect the centers to educational, health and commercial services in underserved communities.

Housed in recycled shipping containers, LINCOS telecenters are satellite-operated and solar power-enabled and will offer modern IT equipment with high-speed Internet connections that can operate independently of traditional infrastructure.

HP and TTG are planning initial joint projects in the Philippines, Tanzania, Vietnam, Russia, Brazil, Kenya, Uganda and Togo. Other existing HP partners and customers are expected to participate.

Subject to HP qualification standards, TTG will have the opportunity to become an authorized HP products distributor, and TTG and its centers will have the opportunity to become authorized HP product resellers.

"HP's strategic alliance with TeltecGlobal is consistent with our World e-Inclusion business initiative. Working with other partners, HP and TeltecGlobal will provide critical Internet access to deliver new market opportunities and educational content to villages around the globe to help catalyze their full participation in the new economy," said Lyle Hurst, director, HP World e-Inclusion.

"TeltecGlobal's alliance with HP will accelerate the acceptance of our centers around the world. Providing HP products, services and technology solutions to our customers will become a hallmark of our center operations. We can think of no better partner than HP with its commitment to helping our target markets and customers to cross the digital divide. We are excited to begin our relationship with HP, and look forward to creative joint projects to benefit the people we serve," said Alan Gotcher, president and chief operating officer, TTG.

About World e-Inclusion

World e-Inclusion extends HP's business focus to traditionally underserved markets, with an emphasis on sustainable business ventures that improve the livelihoods of the roughly 4 billion people who have very low incomes in Africa, Asia, Central and Eastern Europe, Latin America and the Middle East. Working with partners, HP is inventing and integrating the necessary technology, products and e-services to deliver relevant solutions to benefit the poor in the developing world.

About TTG

TeltecGlobal (Denver, Colo.) establishes Internet access enabled business and community centers located in emerging countries. By forming relationships with local entrepreneurs, TTG gains credibility in the target markets and support of local governments. The company is dedicated to bringing to emerging markets cutting edge access to the world of the Internet and e-commerce opportunities.

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.