News release

HP Introduces New Commercial Notebook PC for Only $899

Compaq Evo Notebook N1015v Delivers Simplicity and Performance at Exceptional Value

PALO ALTO, Calif., Oct. 7, 2002

HP (NYSE: HPQ) today introduced a powerful commercial notebook PC targeting the small- and medium-sized business market and offering customers an exceptional value starting at $899⁽¹⁾ without compromising on performance or features. The Compaq Evo Notebook N1015v packs the power and performance necessary for mobility into a stylish design.

"HP is committed to delivering value to customers in conjunction with the highest quality products and services without sacrificing performance," said Kevin Frost, vice president of worldwide notebook marketing, HP Personal Systems Group. "Starting at just $899, the Compaq Evo Notebook N1015v is a great value and delivers on many of the features that customers need and want in order to be mobile."

Like all new Compaq notebook PCs, the N1015v features MultiPort technology. Recognized as the most innovative wireless solution on the market,⁽²⁾ MultiPort provides users the convenience to access the Internet or their enterprise network without cables. Available in either an 802.11b or Bluetooth module, MultiPort provides mobile users with greater performance than traditional wireless PC cards, as well as increased flexibility for upgrades and expansion.⁽³⁾

Weighing less than seven pounds, the Compaq Evo Notebook N1015v offers integrated floppy and optical drives, which provide flexibility without the need to carry external drives. The notebook has 4-way Internet scroll and front speaker location for optimum sound quality. In addition, the N1015v has an ergonomic industrial design including a contour door on the back of the system to protect ports and connectors, as well as making it comfortable to carry by hand.

New design features include better accessibility for persons with disabilities. For example, the notebook offers single-hand operations for opening the notebook and changing batteries. Also, the keyboard has tactilely discernible marks for hand placement to assist persons with low or no vision and an adjustable keyboard response time to improve accessibility for persons with limited mobility.

Featuring the latest mobile processors, up to 15-inch TFT displays and ATI Mobility Radeon graphics controllers, the N1015v delivers outstanding functionality for a wide range of computing demands.

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.

⁽¹⁾ U.S. estimated street price. Actual prices may vary.

⁽²⁾ Andy Seybold's Outlook 4Mobility -- Most Innovative Wireless Enabled Notebook Computer, November 2001.

⁽³⁾ Wireless capability requires a MultiPort module or a wireless module at an additional cost. A standard WLAN infrastructure, other Bluetooth-enabled devices and a service contract with a wireless service provider may be required for applicable wireless communications. Wireless Internet use requires a separately purchased service contract with an Internet Service Provider. Check with service providers for fees, availability and coverage in your area. Not all Web content may be available.

Microsoft and Windows are U.S. registered trademarks of Microsoft Corp.

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.