News release

HP Unveils Color Printing and Imaging Solutions for Small- and Medium-sized Businesses

PALO ALTO, Calif., Oct. 29, 2001

Hewlett-Packard Company (NYSE:HWP) today debuted a portfolio of color printing and imaging solutions for small- and medium-sized businesses that allows customers to create powerful business communications materials more easily, creatively and affordably than ever before.

The portfolio features three color inkjet printers as well as two print servers. The inkjet printers boast improved image quality and an expanded array of paper handling options for high-impact communications development. The print servers enable HP customers to share printers wirelessly or via a network. Additionally, each of the printing systems announced today is available for lease through the HP Printadvantage program.

"Whether companies are building a business, using the Web to reach new markets or developing new customer relationships, the HP printing systems introduced today allow businesses to create, share and print customized color documents in-house quickly, professionally and affordably," said Vyomesh Joshi, president, HP Imaging and Printing Systems.

HP's Newest Inkjet Printers

The HP Color Inkjet Printer cp1160 features two-sided printing, up to 400-sheet paper capacity, infrared connectivity, support for Microsoft® and Macintosh operating systems and optional networking. Sporting an efficient and space-saving design, the printer is ideal for printing proposals, marketing materials and reports. An additional 250-sheet plain paper tray and an Internet connector accessory for desktop networking are standard with the HP Color Inkjet Printer cp1600tn version.

Designed for personal use or small businesses, the HP Color Inkjet Printer cp1700 and HP Color Inkjet Printer cp1700ps offer wide-format color printing and optional networking. Office professionals can create documents with exceptional color print quality without sacrificing speed. Each printer supports media up to 13 x 19 inches and has optional, two-sided printing -- this feature comes standard on the HP Color Inkjet Printer cp1700d. The HP Color Inkjet Printer cp1700ps offers Adobe® PostScript® 3™ compatibility and supports Microsoft, Macintosh and Linux operating systems.

The HP Business Inkjet Printer 2600 is HP's most network-savvy, wide-format color inkjet printer. When configured with an HP Jetdirect print server, the printer becomes a high-performance, Internet-enabled appliance that can be shared reliably in a network environment. An embedded Web server allows remote management from a standard Web browser or with HP Web Jetadmin 6.5 software.

The HP Business Inkjet Printer 2600 supports media up to 13 x 19 inches, has optional two-sided printing, PostScript 3 emulation and supports Microsoft, Macintosh, UNIX, Linux and AutoCAD™ operating systems. The HP Business Inkjet Printer 2600dn version includes a two-sided printing accessory and an EIO network card.

HP's Print Servers

The HP Jetdirect 200m and 250m internal print servers offer businesses a simple and affordable way to link to the Internet and share printers. These print servers are designed specifically for the HP Color Inkjet Printer cp1160 and cp1700 families and are compatible with printers featuring LIO networking slots.

The HP Wireless Print Server wp110 offers a simple and cost-effective way to share a printer by allowing multiple PC or Mac users to connect and share a broad range of HP peripherals on an 802.11b wireless network.

Additional Services and Solutions

• HP Printadvantage is a cost-effective leasing program alternative that allows small- and medium-sized business customers to purchase HP printers, supplies and support with fixed monthly payments.

• HP Web Jetadmin 6.5 software provides network administrators with an intuitive, browser-based tool for installing and managing networked printers and monitoring their real-time status. New capabilities include embedded Web server synchronization and usability enhancements.

• HP Instant Support for printers is a Web-based diagnostic service that provides self-help and troubleshooting information via the Web.

The products announced here are available in the United States and Canada beginning Oct. 29. The HP Business Inkjet Printer 2600 is expected to be available March 2002.

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⁾ Actual prices may vary

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

Adobe PostScript 3 are trademarks of Adobe Systems Incorporated.

UNIX is a registered trademark of the Open Group.

AutoCAD is a U.S. trademark of Autodesk, Inc.

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.