News release

HP Signs Seven-year, $675 Million Outsourcing Services Contract with Unilever

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HP and Unilever today announced an extension of their relationship with the signing of a seven-year outsourcing contract for the management of Unilever’s technology infrastructure in the Americas, Asia, Africa, Turkey and Middle East.

HP will provide an infrastructure designed to quickly adapt to the changing needs of Unilever’s business by standardizing, virtualizing and optimizing Unilever’s enterprise computing environment in the regions above as well as its client services environment in Asia Pacific, Africa, Turkey and the Middle East.

Operating as a single point of contact for Unilever’s enterprise computing environment, HP will work with Unilever’s strategic partners, including SAP, Microsoft and BT, to help reduce costs and ease the integration of new applications. HP also will manage the third-party contracts within Unilever’s technology environment in the Americas, Asia Pacific, Africa, Turkey and Middle East.

Through this agreement, HP will provide management of Unilever’s IT processes and services, including: corporate data centers, messaging and directory services, Internet and intranet systems hosting, disaster recovery services, and the outsourcing of 4,500 multi-vendor UNIX and Windows® servers and storage environments.

As part of this agreement, approximately 250 Unilever employees will transfer to HP.

“In this space, HP has demonstrated a distinctive collaborative approach combined with a clear expertise in the delivery of global services,” said Neil Cameron, chief information officer, Unilever. “This agreement is a natural extension of our current relationship. The intention between both parties is to leverage HP’s scale, expertise and industry leadership to ensure Unilever has access to world-class technology at substantially lower costs.”

“We look forward to helping Unilever further transform its technology environment to better align with the business. This will improve performance and lower operational costs,” said Pablo Sanchez-Lozano, senior vice president and general manager, HP Services – EMEA. “While HP delivers consistent and predictable service all over the globe for Unilever, they can focus their energies and resources on growing their business.”

About Unilever

Unilever’s mission is to add vitality to life. We meet everyday needs for nutrition, hygiene and personal care with brands that help people feel good, look good and get more out of life.

Unilever is one of the world’s leading suppliers of fast moving consumer goods with strong local roots in more than 100 countries across the globe. Its portfolio includes some of the world’s best known and most loved brands including twelve €1 billion brands and global leadership in many categories in which the company operates. The portfolio features brand icons such as: Knorr, Lipton, Flora, Dove, Lynx, Persil, Domestos, Marmite and Kecap Bango.

Unilever has around 179,000 employees in approaching 100 countries and generated annual sales of €40 billion in 2007. For more information about Unilever and its brands, please visit www.unilever.com.

About HP

HP focuses on simplifying technology experiences for all of its customers – from individual consumers to the largest businesses. With a portfolio that spans printing, personal computing, software, services and IT infrastructure, HP is among the world’s largest IT companies, with revenue totaling $104.3 billion for the four fiscal quarters ended Oct. 31, 2007. More information about HP (NYSE: 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 the expected benefits and costs of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; risks related to the timing or ultimate completion of the transaction; and other risks that are described in HP’s filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2007. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2008 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.