News release

Godrej Industries and Godrej Consumer Products Limited Select HP for Strategic IT Transformation

HP today announced it has signed a 10-year strategic IT transformation services contract with Godrej, India’s largest engineering and consumer products company.

HP will help Godrej drive various transformation initiatives, grow its business and maintain a competitive edge. As part of the contract, HP will implement tailor-made solutions for Godrej Industries Ltd. and Godrej Consumer Products Ltd.

Under the terms of the agreement, HP will lead a comprehensive infrastructure outsourcing and transformation project that will provide Godrej with a scalable and reliable service delivery structure based on Information Technology Infrastructure Library (ITIL) standards.

HP will deliver infrastructure solutions, along with consulting and outsourced services, which include management for SAP, PeopleSoft and other critical business applications. Godrej’s operational team also will transition to HP, providing those employees with enhanced career opportunities.

“Godrej is pleased to select HP as its IT partner on its journey to business transformation,” said Adi Godrej, chairman, Godrej Industries. “HP brings to the partnership rich and diverse domain experience and has met the demands of our engagement with flexibility as well as expertise. With this initiative, Godrej is effectively combining technology with trust, a quality that the brand is synonymous with, to bring its customers a consistently excellent experience.”

Neelam Dhawan, managing director, HP India, said, “Partnering with HP will enable Godrej to transform its infrastructure technology. Our combined focus on business technology transformation is based upon process excellence and best practices. We will support Godrej as it continues to grow and diversify.”

Godrej worked with Ernst & Young as its advisory consulting partner for the evaluation and selection process for the right technology partner. HP was selected by Godrej after an extensive and exhaustive shortlist process, which included major IT companies.

Financial details of the agreement have not been disclosed.

About Godrej Industries Ltd.

Godrej Industries Ltd. largely operates in the business of oleo-chemicals, edible oils, fats, processed foods, finance and investments, and estate management. It has substantial interest in several industries, including animal feeds and agro-products, poultry, rural retailing, property development, personal care, household insecticides, pest management services and branded tea, through its subsidiaries, associate companies and joint ventures.

The Chemicals division of Godrej Industries is a leading manufacturer of oleo-chemicals like fatty acids, glycerin, fatty alcohols and surfactants. The division has manufacturing facilities at Vikhroli, Mumbai and Valia, Gujarat.

The Veg Oils division of Godrej Industries manufactures edible oils, vanaspati and bakery fats. The division has a state-of-the-art manufacturing facility at Wadala in Mumbai. The plant is equipped with the best of modern equipment for the processing and packaging of a wide variety of food products.

About Godrej Consumer Products Limited

Godrej Consumer Products Limited (GCPL) is one of the leading companies in the Indian fast-moving consumer goods (FMCG) market with presence in the personal and household care products. It is also one of the largest marketers of toilet soaps in the country with leading brands such as Cinthol, Godrej Fairglow and Godrej No.1. The company has manufacturing facilities at Malanpur (Madhya Pradesh), Baddi-Thana (Himachal Pradesh), Baddi-Katha (Himachal Pradesh), Sikkim and Guwahati (Assam). With the acquisition of 100 percent ownership of Keyline Brands Limited, a FMCG company in the United Kingdom, GCPL now owns international brands and trademarks in developed markets that include Europe, Australia and Canada. The acquisition of Rapidol (Pty.) Ltd., South Africa has given GCPL ownership of Inecto and other brands in several African countries. GCPL has a 50:50 joint venture with SCA Hygiene Products AB, Sweden, known as Godrej SCA Hygiene Limited. GCPL acquired Godrej Global Mideast FZE, a 100 percent subsidiary of Godrej International Limited. GCPL completed the acquisition of Kinky Group (Proprietary) Ltd., one of the leaders in the South African hair business. With this, GCPL gains entry into a new line of business in the hair product portfolio.

About HP

HP, the world’s largest technology company, provides printing and personal computing products and IT services, software and solutions that simplify the technology experience for consumers and businesses. HP completed its acquisition of EDS on Aug. 26, 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 July 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.

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