News release

HP Announces Two New Gelato Federation Members

Scientific Research Institutions Join Forces to Advance Linux-based Itanium Platforms

PALO ALTO, Calif., Oct. 1, 2002

HP (NYSE: HPQ) today announced that two new member organizations have joined the Gelato Federation: the National Center for Atmospheric Research (NCAR) and CERN, the European Center for Nuclear Research.

The Gelato Federation is a worldwide consortium focused on enabling open source, Linux-based Intel® Itanium® Processor Family computing solutions for academic, government and industrial research. The federation was co-founded by HP and seven of the world's leading research organizations in March.

The group is developing scalable, commodity software to enable researchers to advance their studies in emerging and technology-intensive areas, such as life sciences and physical sciences.

"HP is leading the charge to make Linux-based Itanium platforms an industry standard, and those involved in high performance technical computing -- like the members of Gelato -- are some of our biggest supporters and best partners in the effort," said Martin Fink, vice president and chief technology officer, HP Business Critical Systems and Enterprise Linux. "By bringing these groups together through Gelato, we are able to leverage the collective experience of all to solve these challenges faster and more efficiently."

NCAR was established in 1960 to serve as a center for research on atmospheric and related science problems. NCAR is recognized for its scientific contributions to the understanding of the earth system, including changes in climate and atmospheric composition, Earth-Sun interactions, weather formation and forecasting, and the impacts of all of these components on human societies.

CERN operates the world's largest particle physics center. Founded in 1954, the laboratory was one of Europe's first joint ventures and has become a shining example of international collaboration.

"Research institutions like NCAR have deep experience in the technical challenges of high-performance computing," said Rodney James, software engineer for the Scientific Computing Division, NCAR. "Each of the research groups in Gelato has a vested interest in creating industry standard commodity platforms for this type of research, and joining Gelato will be an excellent opportunity for NCAR to collaborate with HP and this community."

Current Gelato Federation members include the BioInformatics Institute (Singapore), Groupe ESIEE (France), the National Center for Supercomputing Applications, Tsinghua University (China), University of Illinois at Urbana-Champaign, University of New South Wales (Australia) and the University of Waterloo (Canada).

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. More information about HP is available at http://www.hp.com.

Intel and Itanium are registered trademarks of Intel Corp. or its subsidiaries in the United States and other countries.

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 HP's quarterly report on Form 10-Q for the quarter ended April 30, 2002 and reports filed subsequent to HP's annual report on Form 10-K, as amended on January 30, 2002, for the fiscal year ended October 31, 2001. 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.