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Tribune Publishing Selects HP for Business Process Outsourcing Services

PALO ALTO, Calif., April 9, 2008

HP today announced it has been awarded a seven-year business process outsourcing (BPO) contract with the Tribune Publishing subsidiary of Tribune Company, one of the United States’ top media companies.

HP has already begun delivering a full scope of finance processes, including cash application, credit, collections and customer service, for many of Tribune Publishing’s advertisers. Additionally, HP is deploying applications to boost the value, efficiency and quality of the company’s business processes.

“We are looking to HP to help us standardize, consolidate and enhance our advertising customer service, billing and collection operations while helping us cut costs,” said Harry Amsden, vice president, Finance, Tribune Publishing. “HP’s collaborative approach, geographic presence and success with other customers in these areas made it the ideal partner to help us meet these goals.”

The implementation of the contract will occur in phases, supporting seven of Tribune Publishing’s major metropolitan newspapers and the company’s related interactive websites. It is expected to be completed by summer.

“Outsourcing these operations to HP means the Tribune Company can increase its focus on what it does best: delivering the news to more than 80 percent of U.S. households,” said Gary Budzinski, senior vice president – Americas, HP Services. “By providing business process finance and accounting outsourcing services to Tribune Publishing, we plan to help the media company improve its advertiser customer service and lower its costs.”

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 $107.7 billion for the four fiscal quarters ended Jan. 31, 2008. 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 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 execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected results; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2008 and HP’s other 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 October 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.

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