News release

EMC AND HEWLETT-PACKARD SIGN TECHNOLOGY AGREEMENT

World's Two Largest Storage Providers Exchange Programming Interfaces to Advance Storage Management Interoperability

HOPKINTON, Mass. & PALO ALTO, Calif.--July 17, 2002

EMC Corporation (NYSE: EMC) and Hewlett-Packard Company (NYSE:HPQ), the two largest global enterprise storage providers, have agreed to cross-license certain storage system application programming interfaces (APIs). The technology exchange will facilitate each company's development of storage management applications capable of managing each company's respective storage systems. Both EMC and HP believe that this kind of technology exchange can serve as a model for agreements with other companies and thereby accelerate the industry's progress toward solving the interoperability concerns of customers.

Don Swatik, EMC's Vice President of Alliances and Information Sciences, said, "Industry leaders like EMC and HP are going to great lengths to promote universal interoperability in heterogeneous storage environments. Along with our companies' combined efforts to further development of open industry standards -- such as CIM and Bluefin -- technology exchanges such as this enable our mutual customers to realize the benefits of that interoperability much sooner."

Mark Sorenson, Vice President of Storage Software Solutions, HP Network Storage Solutions, said, "This agreement from the two leaders in enterprise storage will deliver on customer demand for solutions that work together and can be managed centrally. The licensing of these APIs will enable both companies to tightly integrate storage and storage management products for the benefit of their customers."

According to industry analyst estimates, the storage systems technology addressed under this exchange represents more than 70% of the combined revenue market share for networked external RAID storage in 2001, and more than 50% of the overall external RAID revenue market share for 2001.

Under the terms of the agreement, EMC is licensing APIs to support discovery and control functions of EMC Symmetrix(R) and EMC CLARiiON(R) storage systems. HP is licensing APIs to support discovery and control functions of the HP StorageWorks Virtual Array (VA) systems and the HP StorageWorks XP systems. This agreement expands on a previous agreement between EMC and Compaq, who merged with HP in May 2002. The previous agreement included API support for EMC Symmetrix and EMC CLARiiON storage systems and Compaq StorageWorks Enterprise Virtual Arrays and StorageWorks Modular Array systems. In addition, the companies will define cooperative support levels so that end users of the respective storage management products can be assured that each vendor will provide support for its configurations.

About EMC

EMC Corporation (NYSE:EMC) is the world leader in information storage systems, software, networks and services, providing the information infrastructure for a connected world. Information about EMC's products and services can be found at www.EMC.com.

About HP

HP is a leading global provider of products, technologies, solutions and services to consumers and businesses. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing. HP completed its merger transaction involving Compaq Computer Corp. on May 3, 2002. The company would have had combined revenue on a pro forma basis with the Compaq transaction of approximately $81.1 billion in fiscal 2001 and operations in more than 160 countries. More information about HP is available at http://www.hp.com.

EMC, Symmetrix and CLARiiON are registered trademarks of EMC Corporation, all other trademarks are the property of their respective owners.