News release

HP Appoints Global Entertainment Agency

Davie-Brown Entertainment to Provide Marketing Services

HP (NYSE:HPQ) today announced that Davie-Brown Entertainment, part of the Omnicom (NYSE:OMC) group of companies, has been selected as HP's global agency of record responsible for product placement, celebrity influencer programs and consumer promotions related to television and feature films across the company. HP and Compaq had been using separate entertainment agencies that continued after the completion of the merger in May 2002.

"Consolidating agency resources has been an essential part of creating one brand and one voice for the company," said Gary Elliott, vice president, HP Global Brand and Marketing Communications. "This move allows HP to gain maximum synergy by leveraging entertainment content throughout our marketing communications portfolio."

A trusted partner in Hollywood and studio releases for more than 60 years, HP is the preferred technology provider for DreamWorks SKG, the Sundance Institute and the Motion Picture and Television Fund. HP's previous entertainment marketing activities have included television, animated and feature film product placement and related consumer promotions, music tours and events.

Davie-Brown Entertainment, located in Los Angeles, has been providing entertainment-marketing services for global brands since 1985. HP selected the firm based on its respective strengths and experience in the entertainment industry, strategic support capabilities and global presence.

"We're delighted to be working with one of the world's largest technology companies," said Jim Davie, president, Davie-Brown. "HP's brand is well-respected in the entertainment community for providing the tools to enable the creative process and that fits well with our experience in working with world-class brands."

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

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 and performance of, and the benefits derived from, these products and services may not proceed as planned or materialize to the extent or in the timeframe anticipated; 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 January 31, 2003, and subsequently filed reports. 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 to update these forward-looking statements.