News release

National Commerce Financial Corp. Partners with HP for Technology Refresh in 470 Branches in the Southeast

Project Supports Institution's Rapid Growth

National Commerce Financial Corp. (NYSE:NCF) has selected HP (NYSE:HPQ) as its technology partner for a major automation upgrade to its banking operations. NCF has three bank brands that operate 470 branches throughout the southeastern United States.

The upgrade supports NCF's initiative to move to an integrated system of customer service and account maintenance, enhancing both aspects of the banks' operations.

"The technology upgrade will enhance efficiency at teller stations and back office operations and is part of a larger effort by the company to personalize the customer experience and to position itself to continue its expansion into new markets," said Bob Sowa, senior vice president and director of infrastructure operations, NCF. "The infrastructure modernization will also permit the deployment of Web-based banking delivery systems, resulting in shorter training cycles for new members of the bank staff."

HP was selected over several competitors in the PC and server industry to supply the technology for the branch automation upgrade. The project includes the installation of 5,000 Compaq Evo D510 Small Form Factor desktop PCs and 500 industry-standard HP ProLiant ML310 servers, as well as 400 HP LaserJet 4200 printers.

"As an innovative financial services company, NCF needs a technology platform that adapts with the changing marketplace," said Mark Bubar, director of banking, global finance industry, HP Enterprise Systems Group. "HP's solution enables flexibility for the future even as it provides a stable foundation for current customer relationships and overall business operation."

"To continue providing the best possible customer service, our employees need instant access to the latest information on NCF's complete portfolio of products and services," said Sowa. "By centralizing the IT management of our branches with an HP solution, we are able to immediately respond to the needs of our customers."

The Compaq Evo D510 PCs will support a range of administrative and customer service functions at the bank branches. The ProLiant servers will power print and file applications, as well as specialized applications for financial services environments.

Pomeroy IT Solutions, a Hebron, Ky.-based provider of enterprise-wide IT solutions and an HP platinum-level partner, will provide asset-tagging, image creation and burning as well as installation for the rollout.

The project is scheduled for completion in late summer.

About National Commerce Financial Corp.

National Commerce Financial Corporation is a diversified financial services company with $21 billion in assets. NCF, headquartered in Memphis, Tenn., with its operations headquartered in Durham, N.C., is a sales and marketing organization that delivers select financial and consulting services through a national network of banking affiliates, operating in 14 of the nation's fastest growing metropolitan areas, and non-banking affiliates.

About HP

HP delivers vital technology for business and life. The company's solutions span IT infrastructure, personal computing and access devices, global services and imaging and printing for consumers, enterprises and small and medium business. For the last four quarters, HP revenue totaled $70.4 billion. 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 proposed contract may not be entered into on the terms currently contemplated or at all; that the market for the sale of certain products and services may not develop as expected; that development and performance 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 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.