News release

HP Sets 2003 Annual Shareowner Meeting and Record Dates

HP (NYSE:HPQ) today announced that it has established a record date for its 2003 annual meeting of shareowners. HP shareowners of record at the close of business on Feb. 19, 2003, will be entitled to notice of the annual meeting and to vote upon matters considered at the meeting, including nominees for the board of directors, ratification of auditors, amendment of an executive compensation plan and various shareowner proposals. The annual meeting will be held on April 2, 2003. HP will send a definitive proxy statement to shareowners of record, which will contain important information about the matters to be considered at the meeting. Shareowners are urged to read the proxy statement when it becomes available. The proxy statement also will include the time and location of the annual meeting.

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 Corporation on May 3, 2002. More information about HP is available at http://www.hp.com.