News release

HP and TWI Interactive Announce the Interactive Content Factory

Solution to Revolutionize Fully Convergent Digital Content Production

PALO ALTO, Calif., April 2, 2002

Hewlett-Packard Company (NYSE:HWP) and TWI Interactive, Inc., the digital media and technology arm of IMG (the world's premier sports marketing and media agency), today announced they are jointly marketing the Interactive Content Factory (ICF) -- a fully convergent technology for the production and management of media-rich, interactive content.

The ICF addresses the critical need in the media, broadcast and service provider industries to capture, produce, manage and monetize digital media assets in multi-platform, broadband environments. Organizations using the ICF can streamline their production processes to create, manage and publish digital content across numerous media, including television, interactive TV, broadband mobile and the Internet.

As a pioneer in the provisioning of digital media technology, TWIi has developed proprietary software enabling rights owners, such as Wimbledon and Tiger Woods, to protect and manage their content assets. The ICF builds and scales on TWIi's convergence software to create the multi-platform production engine.

In addition, TWIi has created a syndication platform and software solution for convergent Web and TV production. This fully convergent software solution has been in active use with clients for over a year.

HP powers broadband solutions from the creation to the consumption of digital content through the depth and breadth of its hardware, software, services and solutions. The middleware foundation for the ICF is formed by core components of the HP Netaction software suite, including HP Process Manager Interactive (PMI), HP rich media technologies and the HP content distribution server. HP infrastructure, services and partner offerings also play key roles in the ICF.

"HP is proud to work with TWIi on the revolutionary Interactive Content Factory," said Sebastiano Tevarotto, vice president and general manager of sales, HP Network and Service Provider Unit. "HP's depth of offerings and TWIi's convergence operating system provide a complete solution to customers. Service providers will ultimately be able to provide a wide offering of content to their customers, while greatly shortening time to market."

"IMG has been utilizing technology in sports television for almost four decades. During the last 10 years we've been greatly expanding our work in interactive, digital media," said Todd McCormack, chief executive officer, TWIi. "Having HP's worldwide infrastructure and support will allow us to dramatically scale the initial efforts we have made in the rich-media arena."

To support the ICF, HP and TWIi also plan to launch a joint solutions center at TWIi's production studios in London in the second quarter of 2002. The solutions center will include the work of partner companies and operate within a comprehensive media organization to enable clients to experience the efficiencies of converged production for the delivery of interactive media.

The solutions center will be built upon TWIi's convergence operating system and IMG's 40 years of global experience in rights management and media. The computing infrastructure of the solutions center will be formed using a broad range of HP servers, storage products, HP OpenView infrastructure management software and services.

TWIi's convergence software solution and virtual workflow processes enable the aggregation, management, production and rights-aware distribution of digital content to the multi-channel marketplace. Key features include a central, unified digital object repository to capture, encode, index and store all content types and forms, advanced asset and rights management engine, unified convergence production toolset, virtual enterprise workflow process via unified browser-based desktop interface and flexible, multi-platform distribution engine.

HP and TWIi will demonstrate the ICF solution for the first time at the National Association of Broadcasters show in Las Vegas from April 7-11. For more information, please visit the HP Booth S6621.

About TWIi

As a global leader in digital sports and entertainment, TWIi creates and manages integrated rich-media strategies and initiatives on behalf of premier sports brands -- including Wimbledon, the British Open Championship and the Manchester United Football Club; celebrity athletes including Tiger Woods and Vince Carter; and the corporate community including Philips Electronics and Cisco Systems. TWIi also develops digital media technology solutions in concert with technology leaders to support their clients and the broader sports & entertainment marketplace.

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 of $45.2 billion in its 2001 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 and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of HP and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenues, or other financial items; any statements of the plans, strategies, and objectives of management for future operations; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; statements of belief and any statement of assumptions underlying any of the foregoing. The risks, uncertainties and assumptions referred to above include employee management issues; the timely development, production and acceptance of products and services and their feature sets; the challenge of managing asset levels, including inventory; the flow of products into third-party distribution channels; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks that are described from time to time in HP's Securities and Exchange Commission reports, including but not limited to HP's annual report on Form 10-K, as amended on January 30, 2002, for the fiscal year ended October 31, 2001, and subsequently filed reports. HP assumes no obligation and does not intend to update these forward-looking statements.