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HP Board Declares Regular Dividend and Sets Record and Meeting Dates for 2004 Annual Meeting of Shareowners

PALO ALTO, Calif., Nov. 21, 2003

The board of directors of HP (NYSE:HPQ) today declared a regular cash dividend of 8 cents per share on the company's common stock. The dividend, the first in HP's fiscal year 2004, is payable on Jan. 7, 2004, to shareholders of record as of the close of business on Dec. 17, 2003.

HP has approximately 3 billion shares of common stock outstanding.

In addition, HP has established record and meeting dates for its 2004 annual meeting of shareowners. HP shareowners of record at the close of business on Jan. 20, 2004, will be entitled to notice of the annual meeting and to vote upon matters considered at the meeting. The annual meeting will be held in Houston on March 17, 2004.

HP will send a definitive proxy statement to shareowners of record, which will contain important information about the meeting and the matters to be considered. Shareowners are urged to read the proxy statement when it becomes available.

About HP

HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing. For the fiscal year ending on Oct. 31, 2003, HP revenue totaled $73.1 billion. More information about HP is available at http://www.hp.com.

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