News release

CEOs and CIOs Talk Change on HP Webcast Series

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IT executives worldwide can participate in spontaneous discussions with chief executive officers and chief information officers regarding how they embraced change within their organizations to gain competitive advantage.

The conversations are part of an interactive webcast series, called “Change Artists,” that HP developed so enterprise customers could explore the increasingly dynamic relationship between strategy and technology. The unscripted discussion during each webcast is complemented by online tools and resources, including case studies and white papers.

“Change Artists is part of HP’s focus on raising the dialogue and strengthening our long-term engagements with customers,” said Scott Anderson, director, Enterprise Brand Communications, HP. “The majority of IT decisions made by CIOs are influenced by their peers. Change Artists lets IT executives interact with some of the world’s most successful business leaders not once, but throughout the entire year.”

More than 5,000 viewers from 63 countries watched the first webcast, which aired May 9 and featured FedEx CEO Frederick Smith in conversation with FedEx CIO Robert Carter. The 30 minute discussion, moderated by John Gallant, president and editorial director of IDG’s Network World magazine, touched on topics ranging from business and IT alignment to the evolving role of CIOs within business today.

To deliver Change Artists’ interactive format, HP has assembled a team with complementary strengths: Goodby, Silverstein & Partners provides creative expertise, Turner Broadcasting’s commercial production group and IDG produce each episode, CNN International and CIO Magazine broadcast promotional elements and ZenithOptimedia manages global media requirements.

Download tools and resources and view archived Change Artists webcasts at www.hp.com/go/changeartists.

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.

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 statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; anticipated operational and financial results; any statements of expectation or belief; and any statements 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 April 30, 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.