News release

Compaq Announces Senior Management Appointments

Compaq Computer Corporation (NYSE: CPQ), a leading worldwide provider of technology and solutions, today named Jeff Clarke as senior vice president and chief financial officer. Clarke, 39, was Compaq's vice president of finance and strategy for Compaq Sales and Services. Jesse J. Greene Jr., 56, is appointed senior vice president of strategic planning.

Michael Capellas, Compaq's chairman and chief executive, said the appointments reflect the continuing evolution of the company's senior management team and further strengthen the company's focus on providing innovative Internet infrastructure and access solutions on a worldwide scale.

"Jeff has played an integral role in the development and implementation of our business and financial strategy over the past two years and is an exceedingly strong communicator," Capellas said.

Clarke has more than 15 years of global technology-related financial management experience. Joining Compaq in 1998, upon the completion of the company's merger with Digital, he served as vice president of strategic finance for Technology and Corporate Development. He was named vice president for finance and strategy for Worldwide Sales and Services in 1999.

Greene will now focus his 20-plus years of planning experience on the long-term strategies that drive Compaq competitiveness and shareholder value, including mergers and acquisitions and new market opportunities. Greene will be responsible for the company's corporate strategy and business development groups. "These changes take advantage of what they each do best and I have full confidence in both of them," said Capellas.

In a related announcement today, the company has combined its consumer and commercial product groups to form the Access Business Group. Compaq Senior Vice President Mike Larson, who currently heads the Consumer Products Group, will lead this newly merged Access Business Group. He will continue to report to Mike Winkler, as the Senior Vice President of the Access Business Group. These appointments are effective immediately.