News release

HP Announces e-Services Software to Extend Business Process Management Beyond the Organization

PALO ALTO, Calif., July 23, 2001

Hewlett-Packard Company (NYSE:HWP) today announced the global availability of a business process management and integration technology for building comprehensive e-services solutions.

HP Process Manager 5.0, an HP Netaction product, enables a business to integrate people (employees, customers and suppliers), business applications and e-services in order to build an ecosystem of processes that supports the entire value chain from supplier to customer.

HP Process Manager was designed to allow an enterprise to address the needs of its demand chain -- and the business processes and application integration needed to support it. Expanding on this functionality, HP Process Manager 5.0 provides a variety of new and improved capabilities to enable the total integration of processes both inside and outside the enterprise.

HP Process Manager 5.0 is simple to use and deploy, offering a broad range of adapters and an easy-to-use process modeling feature. It can be used stand-alone or as part of an enterprise application integration solution, thereby reducing the expense of having to buy all elements of the product. The service-based architecture and reusability features of HP Process Manager 5.0 can reduce the time a customer needs to implement or change business processes.

"HP Process Manager 5.0 is a prominent part of HP's middleware solution designed to create, integrate and deploy e-services and a significant advancement of our software integration efforts," said Chris Tracey, worldwide marketing manager, HP Process Manager. "By combining HP Process Manager with the proven XML engine within the HP Bluestone Total-e-server, HP is providing a flexible, standards-based approach for an organization to extend its processes across the entire value chain."

HP Process Manager 5.0 helps organizations, which rely on enterprise application integration and recognize the importance of a process-based approach to creating solutions, by enabling:

• Front-end/Back-end Integration: Organizations need to integrate front-end Web sites with back-office systems and processes so that orders can be fulfilled on time.

• Organization Responsiveness: If a competitor offers a new service, an organization can react rapidly, changing current processes to offer improved services to customers.

• Integrating Processes with Suppliers: HP Process Manager 5.0 helps organizations to involve business partners in the organization's extended business processes through industry standards such as RosettaNet and XML.

Further information on HP Process Manager 5.0 is available at http://www.hp.com/go/e-process.

HP Netaction software is the family of products used to develop, integrate and deploy e-services. It includes HP Bluestone, HP Process Manager, HP e-Speak, HP Internet Usage Manager, HP Opencall, HP Chai and HP security software.

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 all. HP had total revenue from continuing operations of $48.8 billion in its 2000 fiscal year. Information about and its products can be found on the World Wide Web at http://www.hp.com.

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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.