News release

HP Appoints Global IT Outsourcing Executive to Lead Managed Services Business

HP today announced that Steve Smith has been named senior vice president of Managed Services within HP Services.

HP's Managed Services organization provides companies with outsourcing services and solutions to manage their IT infrastructures. It also provides business process outsourcing capabilities. Smith replaces Uli Holdenried, who recently became managing director of HP Germany.

Smith brings extensive global IT services and outsourcing management expertise to his new position at HP, having served most recently as vice president of Global Professional and Managed Services at Lucent Technologies. At Lucent, he was responsible for leading the company's initiative to become the leading network consulting and integrator worldwide.

Previous to that, Smith worked for 16 years at Electronic Data Systems, where he led the company's global sales force and held a number of senior management roles throughout the Pacific Rim, including serving as president of Asia Pacific and also as president of the western United States.

HP Managed Services is the fastest-growing business within HP, up 38 percent year over year in fiscal year 2004 - more than four times the market average.

Smith reports to Ann Livermore, executive vice president of the Technology Solutions Group at HP.

"We are delighted to add such a strong global IT services executive to lead this critical business for HP," said Livermore. "Steve's extensive global management, business operations, sales and deal pursuit experience will be invaluable in building on our strong momentum."

Throughout his career, Smith has been active in a number of civic organizations, including the board of trustees of the University of California, the board of directors of the Bay Area Council, and the San Francisco and Hong Kong American Chambers of Commerce.

Smith had a successful eight-year career in the U.S. Army, where, among other roles, he was aide-de-camp to the commander in chief of the U.S. Armed Forces in the Pacific.

Smith graduated from the U.S. Military Academy at West Point and holds a bachelor of science degree in engineering.

About HP

HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended Oct. 31, 2004, HP revenue totaled $79.9 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.