News release

HP Introduces Home PC and Color Inkjet Printer as Part of Back-to-school Line

Also Releases Survey Results Showing Students and Parents Agree Technology Enhances Productivity and Creativity

PALO ALTO, Calif., Aug. 8, 2001

Hewlett-Packard Company (NYSE:HWP) today introduced a home PC and color inkjet printer, adding to the product line geared toward students for the back-to-school season. In conjunction, results from a survey conducted by International Communications Research⁽¹⁾ found that students and parents agree that the use of technology-related products, such as the HP Pavilion BT 936 home PC and the HP Deskjet 940 color inkjet printer, can enhance learning and personal development.

Of the 500 teens polled, more than half wish they could have a new computer for the back-to-school season, 91 percent believe technology-related products allow them access to a variety of sources, 90 percent said technology improves the quality of their projects, 89 percent said technology products make learning more fun and 56 percent said technology products make them better students overall.

Additionally, the survey found that eight out of 10 parents agree that some technology tools have an impact on children's performance in school. In fact, 91 percent of parents agree that technology improves the quality of projects, 92 percent believe technology helps make learning more fun and 74 percent agree that technology helps make their children better students overall.

"HP understands the competitive dynamics of today's classrooms," said Bob Weis, vice president and general manager, HP Consumer Business Organization. "By offering students and their parents a variety of back-to-school products at a wide range of prices, HP makes it easier for students to embrace technology, which will help them be more successful in school and make their learning more fun."

Back-to-School Product Line

• HP Pavilion BT 936 home PC - A powerful tool for any student, this affordable PC includes a speedy 1 GHz processor, roomy 40 GB hard-disk drive, 8 x 4 x 32 internal CD-writer, 16-speed DVD drive and a 17-inch monitor.

• HP Deskjet 940 color inkjet printer - This printer offers up to 2400 x 1200-dots per inch (dpi) color resolution on photo paper for amazing photo-quality results and 600 x 600 dpi for crisp black text. Both PC- and Mac-compatible, the printer enables students to save paper with the use of a one-touch cancel button and an optional automatic two-sided printing accessory.

• HP CD-writer 8230e drive -- This easy-to-use, plug-n-play CD-writer allows students to back up and share vital class notes or reports and create and share custom audio CDs.

• HP Scanjet 4400c color scanner - The scanner has convenient front-panel buttons making it easy to scan text and 3D objects, make copies, upload photos to Web sites and e-mail, and add photos into school projects. The scanner is PC- and Mac-compatible and offers great imaging quality with 1200-dpi resolution.

HP's back-to-school products are available now and can be purchased online at http://www.hpshopping.com, by phone at +1-888-999- HPHP (4747) or at consumer electronics, computer and office superstores nationwide. All of these products are backed by HP Customer Care 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 all. 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⁾ The study was conducted by ICR and was commissioned by HP. A telephone survey was conducted among a nationally representative sample of teens and adults, aged 12-17 and aged 18 and older, respectively, from July 11-15.

⁽²⁾ 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 assumes no obligation and does not intend to update these forward-looking statements.