News release

HP Introduces IT Shared Service Portfolio for Efficient, Responsive IT

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HP today introduced an IT shared service portfolio that is designed to help enterprise customers improve IT cost efficiencies, quality of service and responsiveness across all lines of business.

IT shared services consolidate common IT functions that are otherwise spread across an enterprise. In effect, IT acts as an internal service provider.

With the HP IT Shared Service (ITSS) portfolio, customers can accelerate business and IT alignment – including staffing, structure and governance – and optimize and rationalize enterprise-wide IT resources.

Combined with the HP Service Oriented Architecture framework, the new portfolio is a key element of the HP Adaptive Infrastructure offering, which enables customers to move toward a “lights-out” computing environment that is remotely managed 24 hours a day.

The HP ITSS portfolio is enabled with enhanced service functionality, processes and technologies so that customers can transition to a shared services model. An HP-developed IT shared services reference model and gap analysis and planning support tool were developed and refined through large, complex customer engagements worldwide.

CETREL, a cooperative of 10 banks from the Luxembourg financial community and the Luxembourg Entreprise des Postes et Télécommunications and a leader in electronic payment solutions, views IT shared services as an essential part of its strategy. CETREL’s approach to IT shared services dates to its founding in 1985, when it made the decision to act as a service provider for local financial services institutions. New regulations forced changes to the operating model and created the opportunity for CETREL to offer services to a broader set of financial institutions in a more open market.

“We are very pleased with the engagement from HP in our IT shared services development,” said Jean-Marc Fandel, chief executive officer, CETREL. “Their expertise has been invaluable in shaping our thinking and helping us to achieve our business goals.”

HP IT Shared Service portfolio: tailored to business needs

HP provides a flexible approach to IT shared services, offering either a transformation or utility portfolio depending on a company’s business and IT needs.

The HP IT Shared Service Transformation portfolio helps customers plan and implement a full-scale transformation of their IT organizations to deliver IT shared services. Offerings include:

• IT Shared Service Transformation Planning Service to help customers develop a comprehensive transformation plan to achieve desired IT shared services objectives;
• IT Shared Service Transformation Design and Implementation Service to help customers implement any combination of the detailed projects identified in the transformation plan;
• IT Shared Service Visioning Workshop to provide customers with insights and awareness of the benefits of the IT shared services concept and the implications and consequences of applying it; and
• Robust governance and management solutions, including HP IT governance and Service Lifecycle Management, to address business relationships, service catalog, service portals for automated provisioning, dynamic changes, access and authentication, chargeback mechanisms and reporting and usage management.

The HP IT Shared Service Utility portfolio provides pre-integrated shared service utilities to enable a selective implementation of IT shared services without requiring a full organizational transformation. The first two utility offerings are the HP IT Shared Infrastructure Utility for development and test environments and the HP IT Shared Messaging Utility for Microsoft® Exchange.

“To help customers get a better overall return on their IT investments, the HP ITSS portfolio holistically addresses the people, processes and technology involved in an IT shared service delivery model,” said John McCain, senior vice president, Consulting and Integration, HP. “With this portfolio, customers can more efficiently align IT and business to realize the benefits of an Adaptive Enterprise.”

All services are available immediately worldwide. More information on the HP IT Shared Service portfolio is available at www.hp.com/services/ITSharedServices.

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 April 30, 2006, HP revenue totaled $88.9 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.

Microsoft is a U.S. registered trademark of Microsoft Corp.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to anticipated operational and financial results; statements of expectation or belief; and any statement of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the achievement of expected results and other risks that are described from time to time in HP’s Securities and Exchange Commission reports, including but not limited to the risks described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended Jan. 31, 2006, and other reports filed after HP’s Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2005. HP assumes no obligation and does not intend to update these forward-looking statements.