News release

HP Introduces Online Consulting Service

Combines Traditional Consulting with Web-based Tools to Offer Customers Quick, Convenient Services

PALO ALTO, Calif., August 28, 2001

Hewlett-Packard Company (NYSE:HWP) today announced an e-service that provides business customers with easy access to HP consulting expertise, Web-based delivery tools, remote and traditional consulting.

HP Online Consulting is ideal for established and emerging companies looking for convenient, cost-effective consulting services in the areas of security, storage, team development and supply chain management. The services connect customers with more than 6,000 HP consultants and collective IT design, integration and deployment knowledge.

According to International Data Corporation, the online consulting market is expected to grow and reach $6.4 billion in 2004. "The market's growing importance coupled with HP's vision to help customers transform their businesses and become more self-sufficient is the driving force behind HP Online Consulting," said John Bologna, general manager, HP Online Consulting.

Among the first offerings available through HP Online Consulting are security services including:

• eSecurity Scan -- provides an online security assessment that identifies weaknesses and provides remedies for immediate action;

• eSecurity Alert -- provides timely information about vulnerabilities on IP-based networks that are specific to a customer's environment;

• HP Guru -- enables customers to get answers to their security questions in a cost-effective and timely fashion from HP field consultants;

• Best Practices -- educates customers about security issues through convenient multi-media presentations;

Other services offered by HP Online Consulting include:

• SAN Architecture and Design Service -- enables customers to anticipate storage management needs with a technical storage assessment, followed by a complete SAN design;

• eAchiever services -- enables customers to build elite business teams through assessments, benchmarking against proven industry performers, and executive and team coaching;

• Supply Chain Management service -- a series of 14 multimedia presentations focused on using market data to make better decisions.

HP is working with its channel partners to extend these services to the small- and medium-sized businesses.

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.

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.