News release

Compaq Helping Businesses Prosper with Superior Finance Options

Compaq Financial Services Corporation (CFS), the wholly owned leasing and financial services subsidiary of Compaq Computer Corporation (NYSE: CPQ), today announced a new 4-month deferral leasing plan for all Compaq commercial product and service offerings. Now, businesses can take advantage of the latest Compaq solutions, and not pay for them until next year.

The offer is effective now until December 31, 2001 and includes award-winning servers, best in class handhelds, wireless devices and PCs, proven storage solutions and services customers need.

"With this far reaching and comprehensive offering, Compaq is helping companies grow in tough circumstances so they can meet the needs of their customers and increase revenue, without putting a drain on their immediate budgets," said Irv Rothman, president and CEO of Compaq Financial Services

"Compaq is helping businesses get moving despite the current economic downturn," said Jim Milton, senior vice president and general manager, North America, Compaq. "Now, companies can take advantage of the latest Compaq solutions, and they don't have to pay for it until next year."

Q4 is often budget crunch time for companies. This new program provides an exciting way to help customers grow, as well as manage their capital budgets. The 4-month deferral lease payment program is applicable to all Compaq commercial solutions, all customers, all transaction sizes, and all lease terms and options. Qualified customers make no payments for the first four months of the lease term, followed by 20, 32, or 44 monthly payments. The program is available through all sales channels in North America.

Company Background

Founded in 1982, Compaq Computer Corporation ("Compaq") is a leading global provider of enterprise technology and solutions. Compaq designs, develops, manufactures and markets hardware, software, solutions and services, including industry-leading enterprise storage and computing solutions, fault-tolerant business-critical solutions, communication products, and desktop and portable personal computers that are sold in more than 200 countries. Information on Compaq and its products and services is available at http://www.compaq.com.