News release

Compaq Named Premiere Sponsor of the East Tennessee Technology Council

Designation Puts Company Among the Leaders in Supporting Technology Initiatives in the State

Compaq Computer Corporation (NYSE: CPQ) has been named a premiere sponsor of the East Tennessee Technology Council (ETTC), an organization whose goal is to promote a business environment that will encourage and attract high tech jobs to drive the region's economy.

"Compaq is a well-established and well-respected name in technology and we are delighted to have Compaq as a premiere sponsor for the East Tennessee Technology Council," said Wayne Starke, chairman of the ETTC board. "Compaq's involvement will strengthen our efforts to expand the human, technological and financial resources in our service area so we can attract even more high tech investment."

Members of the ETTC include more than 150 of Tennessee's most dynamic and forward-thinking companies. Through a variety of activities including seminars, workshops, networking opportunities and other events, the Tech Council fosters the development of a high-quality technology environment. Surveys have shown that since 1999, new information technology jobs created in East Tennessee have sported an average annual salary of more than $55 thousand.

"The East Tennessee Technology Council brings together a cross-section of technology companies to form a strong and vibrant technology base. It provides the leadership necessary to build a community of quality, high-tech companies in East Tennessee," said Tom Baber, vice president, Southeast region for Compaq. "Its aims and impact made it a natural fit for Compaq. We are very pleased to be a premiere sponsor."

Through its participation in the ETTC, Compaq will support the "Tennessee Means Technology" initiative, a statewide program to leverage Tennessee's science and technology assets for new business investment and job creation.

In addition to its place as a premiere sponsor, Compaq holds a position on the ETTC leadership team and will be active in sponsoring events and forums for ETTC members. Company officials also said a special program is being developed that will offer discounts on Compaq equipment to ETTC members.

Company Background

Founded in 1982, Compaq Computer Corporation is a leading global provider of information technology products, services and solutions for enterprise customers. Compaq designs, develops, manufactures and markets information technology equipment, software, services and solutions, including industry-leading enterprise storage and computing solutions, fault-tolerant business-critical solutions, communication products, personal desktop and notebook computers, and personal entertainment and Internet access devices that are sold in more than 200 countries directly and through a network of authorized Compaq marketing partners. Information on Compaq and its products and services is available at http://www.compaq.com.