News release

HP Introduces Flexible Networking Products and Software to Meet Growing Customer Needs

PALO ALTO, Calif., May 8, 2001

Hewlett-Packard Company (NYSE:HWP) today announced networking products and software that will help IT managers affordably and efficiently scale their systems to meet fast-growing demands. These competitively priced products and software offer customers outstanding performance, while expanding the capabilities of Ethernet networking for use in highly available and efficient business environment infrastructures.

"IT managers are increasingly challenged to find manageable, robust solutions that can handle huge amounts of data, optimize existing assets and lower ownership costs," said John McHugh, general manager, HP Networking Infrastructure Solutions. "HP is working to transform Ethernet networking into a seamless, interoperable fabric that is responsive to those critical infrastructure needs."

The offerings introduced today include the HP Procurve Switch 4108GL, HP Procurve mini-GBIC modules and the HP Procurve Network Management tool for HP OpenView for Windows NT®.

The HP Procurve Switch 4108GL is a high-port density, high-performance, Layer 2 modular switch that addresses the needs of medium- and large-sized businesses that require high-volume connections in the wiring closet. The switch can scale to meet customers' growing network needs, supports secure connections, has a warranty and can significantly reduce connectivity interruptions.

The HP Procurve 9300 switch modules include managed and unmanaged versions of 8-port mini-GBIC, gigabit SX and gigabit LX mini-GBICs. HP offers customers the option to buy as many GBICs as they need, rather than having to buy a fully pre-populated module.

The HP Procurve Network Management tool for HP OpenView for Windows NT supports up to 500 HP Procurve switches. The software provides device management, a traffic monitor, scheduled software updates and group management.

To support the networking life cycle, HP offers service providers and enterprise customers industry-leading network services and support specifically designed for multi-vendor network environments. Services include assessment, planning and design through global implementation as well as ongoing e-maintenance for both LANs and WANs.

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.

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

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.