Press Release:

Vodafone Greece Selects HP to Support High-volume Billing System

HP StorageWorks EVA Provides Improved Performance, Simplified Management, Superior Backup Over Legacy System
PALO ALTO, Calif., Jan. 27, 2003

HP (NYSE:HPQ) today announced that Vodafone Greece, the country's most prominent mobile telecommunications provider, has experienced significant performance increases in its billing system after implementing an HP StorageWorks Enterprise Virtual Array-based (EVA) storage area network.

The EVA offers "virtual" RAID (redundant array of independent disks) storage solutions with high performance, high capacity and high availability. Vodafone Greece estimates that performance of its retail billing applications has improved by approximately 20 percent with the move to the HP system. Vodafone Greece recently installed EVA Version 2.0 and has experienced an additional performance boost of up to 10 percent with the upgrade.

"Our operations grow at a staggering rate of 30 percent each year," said Panayiotis Kassapidis, senior systems manager, Vodafone Greece. "We needed a storage system that could scale easily, improve our billing application processing time and provide fail-safe back-up procedures. The HP StorageWorks EVA delivered it with a price-performance that other vendors couldn't match."

The EVA's ease of use was another key consideration in the selection of HP over other storage vendors, according to Vodafone Greece. The EVA offers a browser-like interface, which makes it easy for any engineer or operator to manage, even if he or she does not have in-depth knowledge of the system. With simplified management, the company expects to reduce time spent on storage configuration by about two-thirds.

The HP system also has delivered significant improvements to Vodafone Greece's backup procedures. The backup process, which previously took several hours, now takes only 15-20 minutes using the EVA Virtually Capacity-free Snapshot feature. This capability enables Vodafone Greece to back up data more frequently, thus assuring its integrity.

"When you're a service provider in the demanding telecommunications area, you can't afford to lose data or experience any delays in accessing it," said Kassapidis. "The HP StorageWorks EVA gave us the assurance that -- regardless of whatever spikes in customer demand we might experience -- our data storage system is equipped to handle it easily, efficiently and safely."

As part of its contract with HP, Vodafone Greece also purchased HP AlphaServer systems to support its rapidly expanding IT data center needs. More information about HP's Vodafone implementation is available at

More information about Vodafone Greece is available at

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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 annual report on Form 10-K for the year ended October 31, 2002, as filed with the Securities and Exchange Commission on January 21, 2003, and subsequently filed reports. 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 to update these forward-looking statements.

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