News release

HP Announces Printer/Scanner/Copier All-in-one with Photo-quality Printing, Family-friendly Features

Compact, Sleek Design Makes All-in-one Ideal for the Home

PALO ALTO, Calif., March 12, 2001

Hewlett-Packard Company (NYSE:HWP) today introduced a flatbed printer/scanner/copier all-in-one, giving families the means to create professional-looking projects such as family albums, school reports or greeting cards for all occasions. This product produces photo-quality color images and crisp black text in all three of its functions. Its easy-to-use features include the ability to print T-shirt transfers and create banners with or without a PC.

The HP PSC 750 all-in-one is the smallest flatbed all-in-one from HP to date -- one-third smaller than its predecessor. Unlike sheetfed machines, the all-in-one's flatbed design enables scanning or copying of virtually anything, including 3-D objects. In addition to its compact design, this all-in-one features a neutral blue and cool gray case, making it ideal for a variety of home settings.

High-quality Printing

The HP PSC 750 all-in-one features the same award-winning technology available on HP inkjet printers commonly used by small office and home office professionals. This enhanced color layering technology precisely places and layers tiny drops of ink to produce results that are true to the original. From photo reprints that look virtually identical to the original, to personalized greeting cards that rival store-bought cards in quality, the all-in-one produces 2400 x 1200 dpi color images on photo paper.

The HP PSC 750 all-in-one features HP's exclusive creative photo projects software so users can quickly make a variety of photo projects from T-shirt transfers to stickers to banners, and it prints at speeds of up to 11 pages per minute (ppm) in black and up to 8.5 ppm in color.

Scanning

In just a few simple steps, home users can add brilliant color photos or drawings to their documents to create letters, cards, reports or other creative projects. The HP PSC 750 all-in-one features exceptionally high-quality scanning with 600 x 1200 dpi optical resolution, 9600 dpi enhanced resolution and 36-bit color. It also includes optical character recognition (OCR) software, which allows users to edit text documents that have been scanned and converted into electronic files.

Convenient Copy Features

The all-in-one features a "creative copy" button on its control panel that allows users to conveniently navigate through the copying features to create instant projects without a PC. Customers can create multiple wallet-size photos from one original; reductions and enlargements; posters; and two originals onto one copy. The flatbed design allows customers to scan or copy virtually anything, such as books and other 3-D objects.

The all-in-one delivers photo-quality copying at speeds of 11 copies per minute (cpm) in black and 8 cpm in color.

Additional Features

• Easy-to-install with USB connection for PCs and Macs.
• Prints on a wide variety of paper, including all HP paper and most other specialty papers for designing and sharing creative projects.

The HP PSC 750 all-in-one is expected to ship to retailers in the U.S. in March 2001 with estimated U.S. street prices of $299⁽¹⁾. It comes with a one-year limited warranty backed by HP Customer Care service and support.

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 solutions for an Internet infrastructure that's always on.

HP 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.

⁽¹⁾ Actual prices may vary.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the possibility that the market for the sale of certain products and services may not develop as expected; that development of these products and services may not proceed as planned; 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. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, HP's results could differ materially from HP's expectations in these statements. HP does not intend to update these forward-looking statements.