Press Release: September 22, 2003

HP Completes Acquisition of Baltimore Technologies Identity Management Solution

Software Simplifies Management of IT Resources, Extends HP Adaptive Enterprise Strategy to Synchronize Business and IT
PALO ALTO, Calif., Sept. 22, 2003

HP (NYSE:HPQ) has completed its acquisition of the SelectAccess assets of Baltimore Technologies (LSE:BLM), a UK-based provider of high-trust security products.

The identity management technologies in SelectAccess add depth to the HP Adaptive Enterprise strategy and existing offerings for customers looking to reduce the cost and complexity associated with managing their IT resources. The technology will be integrated into HP's management software portfolio and will provide customers with more secure user access to network services and enterprise resources.

"Enterprise customers need to expand their management reach to include technology that mitigates the risks associated with exposing critical information. In order to ensure convenient, secure accessibility, they need to manage users' identity, credentials and access rights and to respond quickly to change," said Nora Denzel, senior vice president, HP Software Global Business Unit. "Our acquisition of the SelectAccess technology accelerates HP's ability to address this customer need and is the next step in evolving our management software solutions as part of our Adaptive Enterprise strategy."

"The SelectAccess identity management solution has been critical to helping Siemens ensure the right resources are available to the right users at the right time," said Wolfgang Gries, director, information and communication technology, Siemens Transportation Systems Group. "HP, with its experience in delivering adaptive and cost-effective management solutions for enterprise IT infrastructures, understands that identity management is an important part of any adaptive enterprise, and acquiring the SelectAccess technology is key to offering customers an efficient, simple way to ensure systems are used according to pre-defined policies."

SelectAccess provides role-based authorization to network-based resources, allowing administrators to centrally control user access and enable single sign-on through a policy server that grants authorization rights to each application. The solution's intuitive and easy-to-manage interface offers enterprises the ability to easily delegate authority and provide fine-grained access control. This combination of features empowers an organization's customers, employees and partners to conduct business online, saving time and money.

HP acquired Baltimore Technologies' SelectAccess technology in an all cash transaction.

Today's announcement marks the latest in a series of milestones HP has achieved in evolving the company's management software solutions and services to manage and control an adaptive enterprise and keep IT supply resources synchronized with changing business demands. On Sept. 18, HP completed its acquisition of Talking Blocks, a privately held Service Oriented Architecture and Web services management software company based in San Francisco.

More information about HP Adaptive Enterprise solutions is available at

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 consumers, enterprises and small and medium businesses. For the last four quarters, HP revenue totaled $71.3 billion. More information about HP is available at

This news release contains forward-looking statements that involve risks and uncertainties as well as assumptions that, if they ever 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 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 expected benefit of the acquisition, the intended use of the technologies, software and personnel associated with the acquisition; the plans, strategies and objectives of management for future product availability or functionality; and statements relating to the execution of integration plans. The risks, uncertainties and assumptions referred to above include the possibility that the intended application of, and market for, these technologies and software products may not develop as expected; that the development and performance of these technologies and software products may not proceed as planned; the challenges of integrating the assets and people into HP; the challenges of maintaining customers following the acquisition; and other risks that are described from time to time in HP's Quarterly Report on Form 10-Q for the period ended July 31, 2003 and HP's other Securities and Exchange Commission reports filed after HP's Annual Report on Form 10-K for the fiscal year ended October 31, 2002. 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