Press Release:

HP, Warner Bros. Studios to Usher in New Era in Film and Television

Companies to collaborate to enhance quality, post-production and distribution of entertainment content
LAS VEGAS, NAB2004, April 19, 2004

HP and Warner Bros. Studios today announced a broad, strategic partnership that will change how media and entertainment content is created, managed, distributed and consumed.

The partnership is centered on the companies' common vision for the future of digital entertainment - a future in which technology enhances the quality of entertainment content throughout the creation, post-production, digital restoration and distribution processes As with photography and music, the companies are pursuing the digitization of film and television to provide a far more personalized experience for consumers, offering them a variety of choices while appropriately protecting copyrighted content.

The companies will collaborate to digitally restore many of the world's treasured and classic motion pictures and television shows and create new technology solutions for motion picture and television post-production and distribution.

"The impact of music, film and television moving toward all-digital platforms is profound," said Shane Robison, chief strategy and technology officer, HP. "Warner Bros. Studios is at the cutting edge of embracing the digital transformation. By partnering, HP and Warner Bros. Studios will leverage technology and expertise to create compelling, personalized experiences for consumers that will set the bar at a whole new level."

"We are delighted to partner with HP on all these projects. They have a true appreciation for the value of intellectual property and understand that protecting it and creating new ways to deliver content legitimately to consumers are vital to the digital future," said Kevin Tsujihara, executive vice president, Corporate Business Development and Strategy, Warner Bros. Entertainment Inc. "HP's unparalleled experience and resources make them the perfect partner to bring our industry into the future while restoring and preserving some of the best loved films from our past."

Digital restoration

The companies intend to develop and deploy new techniques to restore the image quality of Warner Bros. Studios' classic motion picture and television library, which is the largest in the world.

By combining Warner Bros. Studios' proprietary software - which was successfully used to restore the classic films "Singin' in the Rain," "Robin Hood" and "Meet Me in St. Louis" - with HP's image, color and data management technologies, the companies plan to preserve and present the original creative vision of classic films in stunning digital-age quality.

By leveraging HP's industry-leading servers, software and storage technologies, Warner Bros. Studios intends to increase the number and the quality of films that are restored and released per year. In addition, HP and Warner Bros. Studios have agreed to jointly promote the restoration solution and the newly restored and released films.

Digital post-production

HP and Warner Bros. Studios plan to leverage their combined technology expertise to address the technical and business challenges posed by today's digital post-production. The companies intend to collaborate to develop a pilot project to create a more flexible, adaptable digital post-production studio.

Central to this effort is the preservation of image resolution and quality. Working at more than four times today's customary digital intermediate and digital cinema resolution, the companies plan to define and develop the tools necessary to manage and manipulate the hundreds of terabytes of data that will be needed to make sure that what goes into the vault after production meets or exceeds the historical quality of 35mm film.

Digital transition

HP and Warner Bros. Studios also have agreed to work together to promote technologies that will aid the industry's transition to full, secure digital delivery of entertainment content. The companies are combining efforts to find solutions that provide an appropriate balance between consumer experience and content creator rights to encourage a smooth transition into the digital age.

About Warner Bros. Studios

Warner Bros. Studios, a fully integrated, broad-based entertainment company, is the global leader in the creation, production, distribution, licensing and marketing of all forms of entertainment and their related businesses. Warner Bros. Studios, a Time Warner Company, stands at the forefront of every aspect of the entertainment industry, from feature films to television, home video/DVD, animation, comic books, interactive entertainment and games, product and brand licensing, international cinemas and broadcasting.

About HP

HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing. For the last four fiscal quarters, HP revenue totaled $74.7 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at

This news release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of HP and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenues, or other financial items; any statements of the plans, strategies, and objectives of management for future operations; any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; statements of belief and any statement of assumptions underlying any of the foregoing. The risks, uncertainties and assumptions referred to above include employee management issues; the timely development, production and acceptance of services and their feature sets; the challenge of managing asset levels, including inventory; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks that are described from time to time in HP's Quarterly Report on Form 10-Q for the period ended Jan. 31, 2004, and HP's other Securities and Exchange Commission reports filed after HP's Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2003. 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