News release

HP Unveils 25th Anniversary Edition 12c Calculator

Tale of HP 12c saving the day on business school final wins contest

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HP today introduced a special edition HP 12c Calculator, commemorating the 25th anniversary of the iconic consumer electronics product that has remained virtually unchanged since its debut.

Further celebrating the milestone, HP named the winners of its nationwide competition for real-life success stories involving the HP 12c.

The 25th Anniversary Edition HP 12c Platinum Financial Calculator comes in an elegant black and silver design with an engravable metal plate on the back and an embossed leather pouch. Additional features include the ability to easily switch between Reverse Polish Notation and algebraic mode and undo and backspace buttons. Up to six times faster and with four times more memory than the original, the collectors’ item will only be available until the end of 2006 or while supplies last.

“We’re proud to celebrate this iconic classic that continues to get the job done for everyone from college students to CFOs,” said Fred Valdez, general manager, Calculator Division, Personal Systems Group, HP. “And judging from our contest entries, the HP 12c Calculator has positively impacted the lives of many proud owners over the years. We anticipate this experience to continue well into the future.”

Amazing tales of the HP 12c Calculator

“The Tales of the Amazing HP 12c Calculator Contest” ran from Feb. 10 through May 1 and received hundreds of inspiring, real-life stories regarding the HP 12c. A synopsis of the grand-prize winning story follows:

“The Boon of B-School” – In the midst of his business finance final at Columbia Business School, Vas Rajan suddenly found himself at what he initially thought was a disadvantage when his notebook PC died. All the other students used notebooks to create the sale price valuation of a complex fictional company for the exam. Rajan, however, proceeded to take the test armed simply with his HP 12c calculator, a print-out of the company’s financial statements, a blank exam booklet and a pencil. When grades were published, Rajan, currently a resident of East Brunswick, N.J., was surprised to find that he was only one of eight students to earn an A. After hearing Rajan’s story, the professor made HP 12c calculators mandatory for all students.

More contest stories and a full list of winners is available at www.hp.com/go/12cAnniversary.

Built to last

Instantly recognized for its unique horizontal layout, the HP 12c sold today acts and looks just as it did when first introduced in 1981, with the exception of improved performance due to modern components. Valued for its reliability, proven accuracy⁽²⁾ and long battery life, the HP 12c has become an industry standard in the business and finance community with more than 15 million units sold to date. It is also the only pure Reverse Polish Notation⁽¹⁾ calculator on the market today.

In 2003, HP introduced the HP 12c Platinum, an enhanced version of the HP 12c financial calculator. The HP 12c Platinum boasts increased memory to allow for more keystroke programming steps and offers more built-in functions, including the option of standard algebraic mode as well as Reverse Polish Notation mode.

Information about HP’s complete line of graphing, scientific and financial calculators, as well as virtual classes, tutorials and step-by-step learning modules for HP’s current range of calculators is available at www.hp.com/calculators.

Availability and pricing

The 25th Anniversary Edition HP 12c Platinum Financial Calculator is available immediately for a suggested retail price of $79⁽³⁾ online at HP, Amazon.com, WalMart.com, Staples.com, OfficeDepot.com and in-store at Circuit City, Staples, Office Depot, J&R Electronics, Fry’s Electronics and select retailers and bookstores across the United States. A complete list of resellers is available at www.hp.com/calculators/resellers.

More information on the 25th Anniversary Edition HP 12c Platinum Financial Calculator and other HP mobility solutions is available in an online press kit at www.hp.com/go/Mobility2006.

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.

⁽²⁾ The original HP 12c Financial Calculator was certified by the federal Bureau of Standards (now the National Institute of Standards and Technology).

⁽³⁾ Manufacturer’s suggested retail price. Retailer prices may vary. Prices shown in U.S. dollars, does not include applicable sales tax and shipping and is subject to change or cancellation without notice.

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.