News release

HP to Cut Greenhouse Gas Emissions, Increase Energy Efficiency of Products

Technology-based solutions eyed as part of new agreement with World Wildlife Fund-US

HP and World Wildlife Fund-US (WWF-US) today announced a joint initiative to reduce HP’s greenhouse gas emissions from its operating facilities worldwide, educate and inspire others to adopt best practices, and use HP technology in conservation efforts around the world.

The projects include:

• By 2010, HP will reduce carbon dioxide emissions from HP-owned and HP-leased facilities worldwide to 15 percent below their 2006 levels. To achieve this, WWF-US and HP will identify the best technology and practices to reduce energy use. HP will also continue to investigate and purchase cost-effective renewable energy.
• HP will report and verify carbon dioxide emissions from its facilities, based on the Greenhouse Gas Protocol and the World Economic Forum’s Global Greenhouse Gas Registry.
• HP will develop energy efficiency measurements for its product categories. Based on those metrics, HP will work with WWF-US to develop goals for improved product performance and report publicly on progress toward those goals.
• WWF-US and HP will define and implement educational efforts to address climate change with key stakeholders and highlight best practices adopted by consumers and businesses.
• WWF-US and HP will leverage HP technology to advance the science and practice of adapting and becoming resilient to climate change. An initial project involves funding from HP to study the effects of climate change on the wildlife and habitats of North America’s Bering Sea.

“We are pleased to be working with HP on this exciting initiative to reduce their energy consumption and educate others about climate change,” said Suzanne Apple, vice president, Business and Industry, WWF-US. “HP will be a vital partner as we address the effects of climate change in some of the world’s most important wildlife habitats.”

“We regard WWF as a worldwide leader in environmental conservation efforts and undertaking these projects with them as positive and innovative steps in HP’s longstanding commitment to global citizenship and the environment,” said Pat Tiernan, vice president, Corporate, Social and Environmental Responsibility, HP.

About WWF

For 45 years, World Wildlife Fund-US has worked to save endangered species, protect endangered habitats, and address global threats such as deforestation, over fishing, and climate change. Known worldwide by its panda logo, WWF-US has 1.2 million members and is part of the international WWF network. For more information on WWF-US, visit www.worldwildlife.org.

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 July 31, 2006, HP revenue totaled $90.0 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 July 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.

© 2006 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. HP shall not be liable for technical or editorial errors or omissions contained herein.