Press Release:

Computershare Expands Investment in HP StorageWorks Technology to Strengthen Global Operations and Fuel Growth

PALO ALTO, Calif., Nov. 14, 2002

HP (NYSE:HPQ) today announced that Computershare, a global stock registry, has selected HP StorageWorks storage technology to optimize financial operations across 14 countries. As part of the company's high-performance and expandable solution, Computershare also has selected HP AlphaServer systems and HP ProLiant servers.

Computershare fueled its growth with unique financial products and complementary acquisitions since its establishment in 1978 in Melbourne, Australia. The only share registrar/transfer agent operating worldwide, Computershare maintains more than 61 million shareholder accounts and looks after shares valued at trillions of dollars.

"Given the number of accounts we maintain and the sheer number of dollars that depend on our service, we absolutely must keep our data assets secure and always available to those who need it," said Martyn Drake, general manager of Computershare Technology Services in the United Kingdom. "We place our trust in HP StorageWorks systems to make that happen."

Computershare's IT staff balances user activity evenly across all computers so that either site has enough capacity to operate the full business load. The main site is located outside of Bristol, England, and the recovery site is approximately 13 miles away. Both incorporate diversely routed storage area network (SAN) switches to protect against a failure.

"The ability to support multiple heterogeneous platforms with centralized storage is critical," said Gary Paramore, operations manager, Computershare. "When we factor in the expansion, management and disaster tolerance capabilities of our StorageWorks SANs, along with our ability to move technology between computer platforms as needed, Computershare realized an excellent return on our IT investments."

Computershare employees are using their storage infrastructure to support use of the company's share registration application, called SCRIP, to maintain shareholder accounts and manage takeovers, mergers and demutualization. The Computershare IT staff configured the SCRIP application for its production, handover and development environments in multi-site, disaster-tolerant HP OpenVMS clusters.

"Our StorageWorks ESA systems have given us great service for several years," said Paramore. "We're also gaining abundant storage capacity and generous flexibility from our StorageWorks EMA system. The system gives us a high-density solution in a relatively small footprint by housing four pairs of HP StorageWorks HSG80 controllers, 12 disk shelves and 168 universal disk drives."

The company's storage portfolio includes HP StorageWorks Enterprise Modular Array 16000 systems and Enterprise Storage Array 12000 systems configured in fully redundant, dual-site SANs. More information about HP's network storage offerings is available at

About HP

HP is a leading global provider of products, technologies, solutions and services to consumers and businesses. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing. HP completed its merger transaction involving Compaq Computer Corporation on May 3, 2002. More information about HP is available at

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the possibility that the market for the sale of certain products and services may not develop as expected; that development and performance of these products and services may not proceed as planned; and other risks that are described from time to time in HP's Securities and Exchange Commission reports, including but not limited to HP's quarterly report on Form 10-Q for the quarter ended July 31, 2002 and reports filed subsequent to HP's annual report on Form 10-K, as amended on January 30, 2002, for the fiscal year ended October 31, 2001. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, HP's results could differ materially from HP's expectations in these statements. HP assumes no obligation and does not intend to update these forward-looking statements.

About HP

HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. is available at